CHAMWE KAIRA
South Africa’s National Treasury is due to pay approximately R42.5 billion in interest on government bonds on Wednesday, 30 September 2026, covering fixed-rate, floating-rate and inflation-linked notes.
The Namibian financial industry is heavily invested in the South African financial markets.
The largest payment will be R14.4 billion on the R2032 fixed-rate note, which carries a coupon of 8.25% for the six-month interest period from 1 April to 30 September 2026.
The R2053 bond, with a coupon of 11.625%, will attract the second-largest fixed-rate payment of R6.91 billion, followed by the R2038 at R4.28 billion.
Other fixed-rate interest payments include R3.65 billion on the R2033, R3.26 billion on the R209, R1.93 billion on the R2039 and R1.91 billion on the R2042.
The treasury will also pay R411.4 million on the RI2036 and R300.1 million on the RI2041 inflation-linked notes.
Floating-rate notes RN2032 and RN2035 will require payments of R1.08 billion and R874.3 million, respectively.
For the inflation-linked notes, the treasury will pay R1.21 billion on I2029, R2.77 billion on I2046 and R693 million on R210.
The payments relate to different interest periods, with the fixed-rate notes covering the six months to 30 September, while the floating-rate and inflation-linked instruments use periods ending on 29 September.
Namibian investors and institutions held financial claims on South Africa worth about N$122.8 billion at the end of 2024, a level that was higher than the holdings attributed to Singapore, Japan and Switzerland, according to the South African Reserve Bank.
The private non-banking sector accounted for N$41.1 billion, including N$40.7 billion in equities and N$403 million in debt securities.
The banking sector accounted for another N$21.7 billion. Of this, N$18.8 billion was held in equity and investment fund shares, while N$2.9 billion was in debt securities.
Namibian investors and institutions also held N$13.5 billion in South African general government securities.
