Sustainable Finance: Côte d’Ivoire Wins Award in Japan for the Success of Its “Samurai Bond”

Côte d’Ivoire has earned a new international recognition highlighting its success in financial innovation, where it stands out as a pioneer in Africa. The country was honored in Japan with the prestigious “International Award” at the 11th edition of the Sustainable Finance Awards 2025, organized by the Research Institute for Environmental Finance (RIEF). This marks a first for a sub-Saharan African state, confirming Abidjan’s entry into a very select circle of sovereign issuers recognized for their innovations in the Japanese market.

The award recognizes the issuance, in July 2025, of Côte d’Ivoire’s first ESG-labeled sovereign Samurai bond. With a total amount of ¥500 billion (approximately CFA 300 billion), the bond was structured with a 10-year maturity and an attractive 2.33% coupon, made possible by a full guarantee from the Japan Bank for International Cooperation (JBIC). This financial structure enabled Côte d’Ivoire to access, under unprecedented conditions, a base of long-term Japanese institutional investors known for their high standards in governance and sustainability.

Beyond its financial parameters, the transaction represents a strategic breakthrough. Never before had a sub-Saharan African country issued an ESG-labeled sovereign Samurai bond on the Japanese market. The initiative therefore sets a landmark precedent for the continent, paving the way for other African sovereigns seeking to diversify their funding sources and attract Asian capital sensitive to environmental, social, and governance (ESG) criteria. It also illustrates Abidjan’s ability to align its financing needs with the most demanding international standards in sustainable finance.

See also – Côte d’Ivoire, the first sub-Saharan state to issue an ESG-labeled “Samurai Bond” on the Japanese market

Created to recognize institutions and states that actively contribute to the development of innovative solutions in sustainable finance in Japan, the Sustainable Finance Awards have so far honored only a limited number of countries, including Hungary (2020), the Philippines (2022), Indonesia (2023), and Slovenia (2024). By awarding this distinction to Côte d’Ivoire, the RIEF jury highlights the coherence of a strategy built on financial innovation, ESG integration, and the diversification of sovereign financing channels.

With this international award, Côte d’Ivoire strengthens its credibility in global capital markets and enhances its visibility among international investors. More broadly, it confirms its status as an African pioneer in sustainable finance, positioning its experience as a benchmark for emerging economies seeking responsible financing and long-term financial partnerships.