DRC’s First Eurobond “Mbote” Marks $1.25 Billion Breakthrough into Global Markets

Kinshasa, April 9-14, 2026 - The Democratic Republic of Congo has completed a historic entry into international capital markets with the successful issuance of its first Eurobond, raising $1.25 billion in a transaction that officials describe as a major milestone in the country’s economic transformation. The operation, carried out under the leadership of President Félix Antoine Tshisekedi Tshilombo and coordinated through the Ministry of Finance led by Doudou Fwamba, was presented as both a financing breakthrough and a signal of improved sovereign credibility on global markets. Dubbed “Mbote,” the issuance attracted strong investor interest, with total demand exceeding $5.3 billion-more than four times the amount raised. It was structured in two tranches, comprising $600 million over five years at 8.75% and $650 million over ten years at 9.00%. Government officials said the oversubscription reflects growing international confidence in the country’s macroeconomic management and reform trajectory, supported by improved fiscal discipline and stabilizing economic indicators. Prior to the issuance, authorities conducted investor roadshows in major financial centers including Washington, New York, London, and Paris to present the country’s economic outlook, reform agenda, and development priorities. The proceeds will be allocated to priority infrastructure projects under the 2024-2028 national development program, notably the modernization of N’djili International Airport, the construction of the Katende hydroelectric dam, and improvements to interprovincial transport infrastructure aimed at boosting urban mobility and economic integration. The transaction was supported by an international banking consortium including Citigroup and Standard Chartered Bank, alongside local institution Rawbank, which participated in structuring and coordination. Officials emphasized that the Eurobond also reflects a broader improvement in macroeconomic stability, with inflation contained at around 2.3%, public debt estimated at about 18% of GDP, and growth averaging around 7% in recent years. They added that reserves remain sufficient to cover at least three months of imports, reinforcing external stability. Finance authorities described the issuance as recognition of improved sovereign credit perception, attributing progress to reforms implemented since 2019. They also highlighted the country’s strategic position in global mineral supply chains, particularly in cobalt, copper, and other critical resources. In remarks following the issuance, the Finance Minister described the operation as a signal of international market confidence in the country’s reforms, emphasizing that the funds will serve as leverage for long-term development rather than short-term financing needs. With this debut Eurobond, the DRC joins a select group of African issuers on global capital markets, positioning itself to broaden access to financing while strengthening its profile among international investors.

Faits rapportés

Kinshasa, April 9-14, 2026 - The Democratic Republic of Congo has completed a historic entry into international capital markets with the successful issuance of its first Eurobond, raising $1.25 billion in a transaction that officials describe as a major milestone in the country’s economic transformation. The operation, carried out under the leadership of President Félix Antoine Tshisekedi Tshilombo and coordinated through the Ministry of Finance led by Doudou Fwamba, was presented as both a financing breakthrough and a signal of improved sovereign credibility on global markets. Dubbed “Mbote,” the issuance attracted strong investor interest, with total demand exceeding $5.3 billion-more than four times the amount raised. It was structured in two tranches, comprising $600 million over five years at 8.75% and $650 million over ten years at 9.00%. Government officials said the oversubscription reflects growing international confidence in the country’s macroeconomic management and reform trajectory, supported by improved fiscal discipline and stabilizing economic indicators. Prior to the issuance, authorities conducted investor roadshows in major financial centers including Washington, New York, London, and Paris to present the country’s economic outlook, reform agenda, and development priorities. The proceeds will be allocated to priority infrastructure projects under the 2024-2028 national development program, notably the modernization of N’djili International Airport, the construction of the Katende hydroelectric dam, and improvements to interprovincial transport infrastructure aimed at boosting urban mobility and economic integration. The transaction was supported by an international banking consortium including Citigroup and Standard Chartered Bank, alongside local institution Rawbank, which participated in structuring and coordination. Officials emphasized that the Eurobond also reflects a broader improvement in macroeconomic stability, with inflation contained at around 2.3%, public debt estimated at about 18% of GDP, and growth averaging around 7% in recent years. They added that reserves remain sufficient to cover at least three months of imports, reinforcing external stability. Finance authorities described the issuance as recognition of improved sovereign credit perception, attributing progress to reforms implemented since 2019. They also highlighted the country’s strategic position in global mineral supply chains, particularly in cobalt, copper, and other critical resources. In remarks following the issuance, the Finance Minister described the operation as a signal of international market confidence in the country’s reforms, emphasizing that the funds will serve as leverage for long-term development rather than short-term financing needs. With this debut Eurobond, the DRC joins a select group of African issuers on global capital markets, positioning itself to broaden access to financing while strengthening its profile among international investors.