The African Development Bank and MCB Group launch African Domestic Bond Fund


The African Development Bank and Mauritius Commercial Bank Group (MCB) have launched the African Domestic Bond Fund (ADBF) ahead of its listing on the Stock Exchange of Mauritius Ltd on 18 September 2018. It is the first multijurisdictional fixed income Exchange Traded Fund (ETF) on the continent.

The ADBF arose out of the Bank’s African Financial Markets Initiative (AFMI), which aims to strengthen African economies by reducing their dependency on foreign currency denominated debt, increasing the range of available financing options, and acting as a catalyst for regional market integration. The Bank is acting as an anchor investor of ADBF, to which it has committed USD$ 25 million.

ADBF will track the performance of the AfDB/AFMISM Bloomberg® African Bond Index 25% Capped, an index that…

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