The Development Bank of Central African States (BDEAC) has raised $222 million through its first international bond issue on October 13, 2026. The amount represents more than CFA 130 billion and creates new financing opportunities for the six member countries of the Central African Economic and Monetary Community (CEMAC).
The funds will help accelerate payments for major development projects in infrastructure, agriculture, agro-industry and manufacturing. At the end of 2025, BDEAC had CFA 666.4 billion in confirmed financing commitments awaiting disbursement.
Diversifying Funding Sources
Previously, BDEAC relied mainly on shareholder contributions, partner institutions and regional financial markets. However, these sources have faced limitations. Therefore, entering international bond markets allows the bank to attract new investors and expand its financing options.
Moreover, Africa Finance Corporation participated as a strategic anchor investor, supporting the bank’s efforts to strengthen its position in international financial markets.
Strengthening Financial Management
Meanwhile, the operation follows several years of reforms under BDEAC’s 2023–2027 Azobé strategic plan. These changes include adopting international IFRS accounting standards and improving financial transparency.
In 2025, the bank’s net profit increased by 47% to CFA 5.24 billion. Its total assets reached CFA 1,040.82 billion, while its cash reserves nearly doubled to CFA 128.27 billion.
Building Investor Confidence
The bond carries an annual coupon of 7.88% in euros and matures in October 2029. BDEAC also established a currency hedge to limit risks linked to exchange-rate fluctuations.
Finally, the bank plans to publish financial updates twice a year and organise regular investor conferences. However, the operation’s long-term benefits will depend on sustainable financing conditions and the effective implementation of projects across CEMAC.
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