According to a press release issued on 19 October 2026 on the international platform Newswire, the Republic of Congo has listed two sovereign bond issues on Nasdaq Dubai for a combined total of 1,55 billion USD.
The two relevant issuances amount to 700 million USD and 850 million USD respectively. The first matures on 17 February 2035, while the second must be redeemed no later than 26 May 2036.
Both carry a nominal interest rate of 9,5 % and provide for the gradual repayment of capital. Previously listed on the London Stock Exchange, these bonds are now also tradeable on the Dubai financial market.
According to Nasdaq Dubai, Congo has thus become the first African state to list sovereign bonds there.
This operation does not represent a new capital raising, but rather the opening of additional access to securities already issued in 2026. The objective is to broaden their visibility among international investors and facilitate trading on the secondary market, where bonds already in circulation are bought and sold.
Concretely, until now, investors could acquire these securities notably through the London Stock Exchange. Their admission to the Nasdaq Dubai listing adds another gateway within a financial center that hosts international banks, investment funds, and asset managers.
According to data provided by Nasdaq Dubai, the outstanding debt listed on its platform exceeds 147,5 billion USD, of which 43 % corresponds to sovereign issuances.
The functioning of this market relies on transactions between investors. A fund holding Congolese bonds may decide to sell them to recover liquidity or reallocate its portfolio.
Another investor may then purchase them at a price negotiated between the two parties.
In this operation, the seller receives payment from the buyer, while Congo remains obligated to fulfill the commitments made at the time of issuance, specifically the payment of interest and the repayment of capital. Listing in Dubai therefore does not directly reduce the country's debt and does not, in itself, provide new financial resources.
Its value for Brazzaville is rather indirect, but potentially strategic. By making its securities accessible on a new financial market, the country can broaden the circle of investors likely to hold its debt and facilitate exchanges between creditors.
If this diversification results in increased demand, it could support bond prices on the secondary market and enhance their attractiveness. Over time, a better perception of these securities by investors could contribute to improving the terms of future loans.
This effect, however, remains contingent upon the evolution of Congolese sovereign risk and market appetite for its debt.
This strategy of diversifying channels for accessing financing is part of a context where Brazzaville also seeks to manage the cost of its external debt.
On 13 October 2026, on the sidelines of the annual meetings of the International Monetary Fund (FMI) and the World Bank Group in Bangkok, Finance Minister Christian Yoka met with Manuel Moses, Chief Executive Officer of the pan-African insurer ATIDI, to discuss the next steps in their cooperation. The organization can specifically cover certain risks related to financing granted to states and provide guarantees capable of reassuring banks and other creditors.
For Congo, the challenge lies in reducing the risk perceived by lenders to facilitate access to capital and, potentially, lower its cost. This initiative takes on particular importance as yields on Congolese international issuances have exceeded 11 % in 2025 and 2026.
Claude Paul Tjeg
Published on 19/10/26 15:52
The Editorial Staff