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Africa Finance Corporation (AFC) has raised CHF 350 million through a five-year digital bond, becoming the first African institution to issue a digital bond listed, traded and settled on a regulated digital exchange. The transaction is also the largest digital bond ever issued in the Swiss Franc market, the Corporation said on Wednesday.

AFC said the bond was priced at a 1.4925% coupon, aligning with its US$500 million benchmark issuance completed in June 2026. The Corporation noted that the deal was efficiently timed amid geopolitical uncertainty and benefited from constructive investor sentiment and its dual investment-grade ratings: ‘A’ (with a positive outlook) from S&P and A3 (stable outlook) from Moody’s.

The issuance attracted strong demand, with 90% of orders from Swiss domestic investors and 10% from international accounts. Banks and financial institutions accounted for 57% of the orderbook, asset managers 37%, and hedge funds 6%. AFC said the high-quality book reflects continued market confidence in its credit profile and strengthens its presence in the Swiss capital markets.

This historic issuance further strengthens AFC's presence in the Swiss capital markets and marks its fourth and largest Swiss Franc issuance to date, following the Corporation's CHF 150 million Green Bond issued in 2020 – the Corporation’s inaugural Green Bond.

AFC President and CEO Samaila Zubairu said the transaction marks a significant milestone in the Corporation’s funding strategy. “It underscores the confidence global investors continue to place in our strategy, credit strength and development impact,” he said. “Expanding the range of capital solutions available to AFC will remain central to mobilising long-term financing at scale and delivering on our mandate to accelerate Africa’s industrialisation and economic transformation.”

Executive Board Member and Head of Financial Services, Banji Fehintola, said that pricing the largest digital bond in the Swiss Franc market demonstrates investor trust in AFC’s strategy. He added that the digital format signals AFC’s commitment to innovation in capital markets as it continues to diversify its funding base.

Issued under AFC’s US$5 billion Global Medium Term Note Programme, the digital bond is structured as a tokenised security on a Distributed Ledger Technology (DLT) platform. Ownership is recorded on a regulated digital register, with settlement taking place through regulated digital market infrastructure. The bond is listed on the SIX Swiss Exchange and deposited with SIX Digital Exchange, operated by SIX SIS AG.

Proceeds from the issuance will support AFC’s general funding requirements and strengthen its capacity to finance transformational infrastructure projects across Africa.

The transaction was arranged by Commerzbank AG (Technical Lead) and Deutsche Bank AG London Branch, acting through the Zurich Branch.

AFC, established in 2007, has 48 member countries and has invested US$18.5 billion across Africa. The Corporation focuses on delivering infrastructure solutions in power, natural resources, heavy industry, transport and telecommunications.