Kit d’Outils d’Obligations Verte Afrique

The 'Kit d’Outils d’Obligations Verte Afrique' is a practical guide developed by FSD Africa and the Climate Bonds Initiative (CBI) to support the issuance of green bonds in Africa. It outlines the structural similarities between green and conventional bonds, while detailing the specific requirements for environmental benefit allocation, transparency, and reporting. The document explains global benchmarks such as the Green Bond Principles (GBP) and the Climate Bonds Standard (CBS), and provides a step-by-step issuance process including pre-emission preparation and post-emission verification. It also highlights successful case studies from South Africa, Kenya, and Nigeria to demonstrate investor demand and the role of credit guarantees in local market mobilization.

• Green bonds are structurally identical to conventional bonds, offering comparable risk/return profiles, but differ in that their proceeds are exclusively allocated to projects with environmental benefits.
• Issuers of green bonds can benefit from a more diverse and long-term investor base, higher oversubscription rates, and potentially lower capital costs, particularly for bonds denominated in euros or dollars.
• The Climate Bonds Standard (CBS) provides a more rigorous certification process than the GBP, requiring specific sectoral criteria and thresholds to align with the Paris Agreement goals.
• Case studies in Africa demonstrate strong demand: Nedbank Limited in South Africa saw a 328% oversubscription for its renewable energy bond, while Acorn Holdings issued Kenya's first green bond worth USD 40 million for sustainable student housing in Nairobi.
• Access Bank Plc issued Africa's first private climate bond certified by Climate Bonds on April 1, 2019, with a five-year fixed rate of 15.50% and total proceeds of USD 41 million for renewable energy and flood protection in Lagos.
• Intermediaries and guarantees are critical for local market mobilization; for example, GuarantCo provided a 50% partial credit guarantee for Acorn Holdings in Kenya, and the African Local Currency Bond Fund invested NGN 8.5 billion in North South Power Company Limited in Nigeria.

APA

FSD Africa (n.d.). Kit d’Outils d’Obligations Verte Afrique. https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa_ToolKit_FR_Preamble.pdf

Chicago

FSD Africa. Kit d’Outils d’Obligations Verte Afrique. n.d. https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa_ToolKit_FR_Preamble.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=Kit d’Outils d’Obligations Verte Afrique |url=https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa_ToolKit_FR_Preamble.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafricandkit, author = {{FSD Africa}}, title = {{Kit d’Outils d’Obligations Verte Afrique}}, institution = {FSD Africa}, url = {https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa_ToolKit_FR_Preamble.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }