Legal & General Asset Management (L&G) has launched the L&G LSF African Government Bond (USD) UCITS ETF, marking the first time a fund of this type is available to European investors.
The product was developed in partnership with the Liquidity and Sustainability Facility (LSF), which aims to deepen market liquidity and promote sustainable investment practices in African sovereign debt.
African governments 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 launch provides European institutional investors with a regulated, transparent vehicle to access a basket of African government bonds denominated in US dollars.
Prior to this, accessing this asset class often required direct primary market participation or unlisted private funds, creating barriers for many asset managers seeking diversified emerging-market exposure.
The timing aligns with a resurgence in African sovereign issuance.
African governments 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.