African governments have raised nearly $6 billion in foreign-currency bonds in the first half of 2026, marking the continent's strongest start to a year since 2013.
The surge in issuance activity highlights a significant shift in market sentiment toward African sovereign debt, with Kenya and Ivory Coast emerging as the primary drivers of the volume.
The Democratic Republic of Congo also contributed to the momentum earlier this year, successfully raising $1.
The rapid pace of sales suggests that international investors are increasingly comfortable with the risk-reward profile of African sovereigns, even as global interest rates remain elevated.
This repricing of credit risk has allowed governments to access capital markets at levels not seen in over a decade, providing a crucial source of external financing for fiscal consolidation and development projects.
The Democratic Republic of Congo also contributed to the momentum earlier this year, successfully raising $1.25 billion in its inaugural Eurobond issuance.
That milestone underscored the broadening of investor interest beyond traditional issuers, as resource-rich nations with improving fiscal frameworks began to tap international capital markets more aggressively.