KINSHASA, April 10 – The Democratic Republic of Congo raised $1.25 billion in its first international bond sale, tapping strong investor demand as global interest in critical minerals intensifies.
The Central African nation issued $600 million in bonds due 2032 at a yield of 8.75% and $650 million in 2037 notes at 9.50%. Demand was robust, with orders exceeding $2 billion and $2.8 billion respectively, allowing the government to tighten pricing from initial guidance.
Finance Minister Doudou Fwamba Likunde Libotayi described the transaction as a milestone in the country’s efforts to diversify funding sources and strengthen macroeconomic stability.
The issuance forms part of a broader $1.5 billion Eurobond programme, with proceeds earmarked for infrastructure, energy and social development projects aimed at supporting long-term growth. Authorities have signalled ambitions to become a regular issuer in international debt markets.
Investor appetite has been supported by the country’s vast reserves of cobalt and copper, key inputs in the global energy transition, as well as improving economic fundamentals highlighted by a positive outlook from S&P Global Ratings.
The deal also comes as market conditions stabilise following recent geopolitical tensions, with a temporary ceasefire in the Middle East helping revive risk appetite for emerging-market debt.
Despite the successful issuance, the DRC continues to face structural challenges, including heavy reliance on mining exports, ongoing instability in eastern regions and dependence on concessional financing, which accounts for the majority of its external debt.
The bond sale underscores both the opportunities and risks facing resource-rich African economies as they seek to leverage global demand for critical minerals while strengthening fiscal resilience.
