FNB Namibia bondholders face November deadline
Physical bond certificates must be converted to electronic records by November 9 to remain tradable.
First National Bank of Namibia bondholders must convert their physical bond certificates for code FNBJ28S into electronic records by November 9, 2026. After this date, these bonds will no longer be tradable unless dematerialised and transferred into the Namibia Central Securities Depository (CSD) system. The dematerialisation process replaces physical certificates with electronic ownership records in the CSD without affecting investor ownership.
The bank announced that the register for FNBJ28S will be closed from November 6 to November 9, 2026, to facilitate this conversion. During this closure, only dematerialisation-related transactions will be permitted, halting transfers and trading. FNB Namibia stated that holding bonds electronically will enable more efficient trading on the Namibia Securities Exchange (NSX), faster settlement, and direct interest payments.
Electronic records will also remove the risks of loss, damage, theft, or forgery associated with physical certificates. Bondholders must appoint a Central Securities Depository Participant (CSDP) to manage the dematerialisation process, which involves opening an account with the CSDP and submitting original certificates. Investors should confirm fees directly with their chosen CSDP before proceeding.
Why it mattersFNB Namibia bondholders must convert physical certificates to electronic records by November 9, 2026, to continue trading.