- Two groundbreaking financial transactions supported by the African Development Bank Group have earned prestigious accolades at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards.
- The accolades for Senegal and Rwanda also reflect a more significant trend toward more sophisticated, responsible, and forward-looking financial management among African sovereigns.
Two groundbreaking financial transactions supported by the African Development Bank Group (AfDB) have earned prestigious accolades at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards, cementing the Bank’s role in shaping Africa’s sustainable finance landscape.
Senegal’s $545 million sustainable term loan facility and Rwanda’s €200 million ESG loan were named Sovereign Syndicated Loan Deal of the Year and ESG Loan Deal of the Year, respectively. Both landmark deals were made possible through innovative structuring and partial credit guarantees provided by the AfDB Group, highlighting the increasing maturity and attractiveness of African capital markets.
Held annually at the Cape Town International Convention Center, the Bonds, Loans & ESG Capital Markets Africa Awards recognise Africa’s most transformative, impactful, and creatively structured financial transactions. The 2025 edition spotlighted deals that showcased cutting-edge execution, effective mobilisation of capital from new investor pools, and a strong focus on environmental, social, and governance (ESG) principles.
In March 2024, Senegal debuted on the international sustainable finance market by raising $545 million in long-term financing. A portion of the loan was denominated in CFA francs, making the transaction unique in its dual-currency structuring. The African Development Bank played a central role as both financial advisor and provider of a partial credit guarantee.
The deal not only secured highly favourable borrowing terms for Senegal but also attracted a broad and diverse group of international investors. The funding will be directed toward high-impact sectors, including climate resilience, renewable energy, and social infrastructure, underscoring Senegal’s strong commitment to sustainable development. The transaction is being widely lauded as a pioneering model for other emerging African markets seeking to access global capital.
One month later, in April 2024, Rwanda sealed its own milestone ESG financing with a €200 million loan backed by a partial credit guarantee from the African Development Fund (ADF), the concessional window of the AfDB Group. With the Bank serving as the initial mandated lead arranger, the deal opened new doors for Rwanda to engage with international commercial lenders.
The financing supports Rwanda’s National Strategy for Transformation (NST1) — a bold and forward-looking agenda emphasising green urbanisation, inclusive development, and sustainability. Investments from the loan are earmarked for green infrastructure, environmental protection, and improvements to health and education systems.
Notably, this marks the first time Rwanda has accessed long-term ESG funding from global commercial banks, showcasing the country’s growing fiscal credibility and appeal in sustainable finance markets.
Ahmed Attout, Director of Financial Sector Development at the AfDB Group, emphasised the importance of tailored solutions for member countries:
“These awards underscore the Bank’s steadfast commitment to fostering competitive and sustainable financing solutions. By customising partial credit guarantees to fit national strategies, Senegal and Rwanda now have unprecedented access to competitive international capital for green and social initiatives.”
Echoing the sentiment, Max Magor N’diaye, Senior Director for Syndication, Co-financing, and the Africa Investment Forum, noted the broader significance of the deals:
“These innovative transactions set a game-changing benchmark in leveraging sustainable financing for transformative progress. They deliver real benefits to communities and point the way to a resilient, inclusive, and prosperous future across the continent.”
These landmark deals come at a time when Africa is increasingly being recognized as a critical frontier for ESG investment. By blending development finance tools like partial guarantees with commercial funding, the AfDB is helping member states bridge the financing gap for sustainable development and climate action.
The accolades for Senegal and Rwanda also reflect a more significant trend toward more sophisticated, responsible, and forward-looking financial management among African sovereigns. Both deals are expected to set replicable models for other nations looking to diversify their funding sources while advancing sustainable development objectives.
As the continent faces growing environmental and social challenges, such collaborative financial innovations serve as powerful enablers of inclusive growth and global investor confidence in Africa’s long-term potential.