City, govt inN$357m barter deal
The City of Windhoek has entered a two-phase land-swap agreement with the Namibian government to settle a N$357.8 million capital debt. The first phase covers 81% of the debt, with the remaining balance expected to be cleared through the transfer of additional land near the Independence Stadium.
Why it matters
This deal highlights municipal efforts to manage significant capital debt through asset liquidation, impacting local land development and government property holdings.
The City of Windhoek has signed a land-swap agreement with the government to settle N$357.8 million in capital debt in exchange for municipal land.
However, the first phase of the deal leaves a N$66.3 million shortfall that could require the transfer of more City land.
The agreement, signed on 27 April 2026 between the City and the Ministry of Finance, has been approved by Cabinet and will be implemented in two phases.
Finance Minister Ericah Shafudah, in a letter to Windhoek mayor Sakarias Uunona, said Phase One involves six properties already evaluated and valued at about N$291.5 million, representing approximately 81% of the City’s capital debt.
“Cabinet has approved the implementation of the agreement in two phases,” Shafudah said.
According to the City council resolution, the capital balance of the loan is N$357.765 million, while interest of N$352.631 million is subject to a waiver under the agreement.
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