{"id":23657,"date":"2026-02-12T05:38:39","date_gmt":"2026-02-12T03:38:39","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/conflict-torn-drc-closes-in-on-debut-international-bond\/"},"modified":"2026-02-27T16:34:25","modified_gmt":"2026-02-27T14:34:25","slug":"conflict-torn-drc-closes-in-on-debut-international-bond","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/conflict-torn-drc-closes-in-on-debut-international-bond\/","title":{"rendered":"Conflict-torn DRC closes in on debut international bond"},"content":{"rendered":"

The Democratic Republic of Congo (DRC) wants to make its international bond foray the first of many, its Finance Minister told Reuters<\/em>, as the country rides the current metals market boom and improved ties with the United States (US).<\/p>\n

 <\/p>\n

Mineral-rich DRC, which remains blighted by internal conflict with rebel forces, is the latest African country looking to capitalise on surging demand for smaller and riskier emerging economies’ debt.<\/p>\n

 <\/p>\n

“The priority for us is going into the international capital market, not just to raise funds, but to build a curve, for the private sector to raise also money and to come and invest in the country,” Finance Minister Doudou Fwamba Likunde told Reuters<\/em> in London where he was meeting investors.<\/p>\n

 <\/p>\n

The exact timing of the debut international bond, expected to be $750 million in size, was still to be determined, Likunde said. It was flagged last month by the central bank governor for around April.<\/p>\n

 <\/p>\n

“It’s up to the condition of the market, when the time is coming, we’re going to be ready,” Likunde said.<\/p>\n

 <\/p>\n

FUNDS FOR ROAD AND HYDROPOWER PROJECTS<\/p>\n

 <\/p>\n

Selling an international bond has been DRC officials’ ambition for years but seemed elusive amid the country’s brutal conflicts and concerns about human rights and corruption.<\/p>\n

 <\/p>\n

Likunde said proceeds of the bond would be used to finance a number of large-scale projects, including modernising the international N’djili airport and roads in the capital Kinshasa, as well as hydropower plants and rural infrastructure.<\/p>\n

 <\/p>\n

Market conditions that have left emerging market bond yield spreads, or risk premiums, at their lowest since the 2007-08 global financial crisis, have allowed governments to sell a record amount of debt year-to-date.<\/p>\n

 <\/p>\n

DRC would be following the likes of Suriname, Laos and its neighbour, the Republic of Congo, who have all sold debt in recent months.<\/p>\n

 <\/p>\n

S&P Global Ratings put DRC’s credit rating of B- on a “positive outlook” earlier this year. However, analysts say Kinshasa may have to pay double-digit interest rates for the bond issuance.<\/p>\n

 <\/p>\n

The country’s external debt burden is one of the lowest in so-called frontier bond markets, at 18.5% of gorss domestic product with 95% of it borrowed on concessional terms.<\/p>\n

 <\/p>\n

“We are going to keep communicating, telling our own story,” Likunde said, adding he hoped to see more ratings upgrades.<\/p>\n

 <\/p>\n

 <\/p>\n

PUSH TO SECURE ACCESS TO CRITICAL MINERALS<\/p>\n

 <\/p>\n

Likunde also provided an update on plans for the high-profile US-backed Lobito Corridor railway which will connect the copper, cobalt and lithium belts of DRC, Angola and Zambia to the Atlantic coast.<\/p>\n

 <\/p>\n

The corridor – which forms a key part of Washington’s push to secure access to Africa’s critical minerals and counter China’s dominance, was discussed when DRC Ministers travelled to the US last week to a meeting alongside over 50 countries.<\/p>\n

 <\/p>\n

“We’ve been working with Development Finance Corporation (DFC), they have released a commitment of $530 million of a direct loan to a private company that is going to be in charge of operating this project,” Likunde said, referring to the US International DFC.<\/p>\n

 <\/p>\n

Likunde said the company receiving the financing would be chosen through a tender process.<\/p>\n

 <\/p>\n

–Reuters–<\/p>\n

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