AFG Capital Ltd has proudly announced its pivotal role in Gabon’s triumphant return to the global bond markets, serving as the government’s exclusive financial advisor for a landmark $920 million sovereign bond issuance.
This strategic transaction, which drew overwhelming interest from institutional investors, underscores the prowess of AFG Holding’s subsidiary in orchestrating high-stakes sovereign deals across Africa. Collaborating closely were Cygnum Capital and Citigroup Global Markets, who functioned as arrangers, while White & Case provided critical legal counsel to the Gabonese state.
Recognized as one of the continent’s most significant sovereign financing operations in 2026, the deal reinforces AFG Capital’s standing as a trusted partner for both public and private entities seeking to structure large-scale financial transactions. It also signals Gabon’s re-entry into international financial markets after a prolonged absence.
The milestone was formally confirmed on July 30 by Gabon’s Ministry of Economy, Finance, Debt Management, and Public Participation, which oversees efforts to combat rising living costs.
According to the official statement, the bond issuance was heavily oversubscribed, enabling the government to exceed its initial target of $750 million by an additional $170 million. This outcome reflects renewed investor confidence in Gabon’s economic trajectory and the ongoing reforms outlined in the 2026–2030 National Plan for Growth and Development (PNCD). The plan aims to restore macroeconomic stability and accelerate economic diversification.
The bond carries a 9.375% coupon, a seven-year maturity, and a three-year grace period before amortization, pushing the final maturity date to 2033. Proceeds will be allocated to fund public investment projects and settle a portion of the state’s arrears, in line with the revised 2026 budget law.
The government highlighted the critical role of a prior roadshow targeting international institutional investors, which played a decisive part in securing the deal’s success. This initiative was spearheaded by Gabon’s President, Brice Clotaire Oligui Nguema.
Gabon’s return to the markets follows similar moves by other Central African Economic and Monetary Community (CEMAC) members this year. Cameroon raised $750 million in January, while the Republic of Congo secured $850 million in May. Gabon now joins them as the third CEMAC nation to tap international markets in 2026.
Concurrently, Libreville is advancing technical discussions with the International Monetary Fund (IMF). An IMF review mission is scheduled to visit the capital in September, paving the way for a potential economic and financial program by year-end.
