Côte d’Ivoire has become the first sub-Saharan African country to issue a Samurai Bond, raising 50 billion Japanese yen (approximately $325 million) on the Tokyo Stock Exchange.
The 10-year ESG-certified bond, carrying a fixed coupon rate of 2.3%, was fully subscribed by Japanese institutional investors following a promotional roadshow in April.
The transaction marks a significant milestone for the West African nation, which is already active in euro, dollar, and CFA franc-denominated markets.
Backed by a guarantee from the Japan Bank for International Cooperation (JBIC), the bond benefits from the high credit rating (A+) of the Japanese public institution.
Classified as a Sustainability Bond, it appeals to investors with strong environmental, social, and governance (ESG) mandates.
The Ivorian Ministry of Finance noted that the successful issuance amid global market volatility reflects growing investor confidence in the country’s economic profile.
