Shelter Afrique raises 60 billion CFA francs in green bonds
By the AFREEQUE newsroom, based on Jornal Tropical
The development bank Shelter Afrique has completed its first green bond issue in CFA francs, raising 60 billion from investors in the WAEMU zone. The funds will finance affordable housing in the union’s eight countries, at rates of 6.10% over five years and 6.30% over seven years, according to a statement issued in Nairobi.
The development bank Shelter Afrique (ShafDB), which specialises in housing finance in Africa, has raised 60 billion CFA francs through its first green bond issue in local currency, according to a statement issued from Nairobi. The offering was placed in the WAEMU zone.
The International Finance Corporation (IFC), a member of the World Bank Group, and the Ecobank group, through Ecobank Sénégal, are the anchor investors. The broker CGF Bourse provided main coordination, with technical support from the Global Green Growth Institute (GGGI). The five-year tranche carries a rate of 6.10%, and the seven-year tranche a rate of 6.30%. Subscriptions ran from 7 to 30 October 2026. The funds will be used exclusively to finance affordable and sustainable housing in the eight WAEMU countries.
IFC Managing Director Makhtar Diop said: “Africa has the capital needed to finance an even larger share of its own housing needs.” He added that the partnership with Shelter Afrique marks a step towards deeper local capital markets.
