Lomé, Togo – FMO participated as an anchor investor in the first ICMA-aligned Nature Bond from any African commercial bank. Ecobank Transnational Incorporated (“ETI” or “Ecobank”), the Lomé-based parent company of the Ecobank Group, successfully issued a USD 450 million Sustainable Agriculture & Natural Capital Bond. These Tier 2 capital instruments have a 10.25-year (callable in 5.25 years) tenor and are listed on the main market of the London Stock Exchange. The investment marks the second consecutive Ecobank Tier 2 capital transaction in which FMO has served as anchor investor – the first one being in June 2021.
The Notes carry the ICMA Nature Bond secondary designation under the “ICMA Sustainable Bonds for Nature: A Practitioner’s Guide (June 2025)”, and are aligned with the four core components of the ICMA Green Bond Principles (June 2025). The proceeds will be allocated to the eligible pool of sustainable agriculture and water infrastructure loans across 24 African countries, as further described in ETI's Green Bond Framework.
“This transaction is a defining moment for Ecobank and for African sustainable finance. Investors not only embraced this bond — they demanded more of it, allowing us to upsize and to tighten pricing by 50 basis points. That is the market telling us that rigour and credibility in sustainable finance are rewarded. We are not a bank that labels bonds. We are a bank that has spent four years building the infrastructure, the governance, and the conditions that make nature finance real. This bond belongs to the millions we serve, to the farmers and cooperatives across 24 African countries whose livelihoods depend on the ecosystems we are now formally committed to protecting” said Jeremy Awori, Group Chief Executive Officer, Ecobank Transnational Incorporated
“Nature finance in Africa has too often been discussed far from the communities and environments it is meant to support. This bond helps change that. It reflects the systems, standards and tools Ecobank has put in place to make nature finance practical and credible. As a pan- African bank, we understand that climate and nature risks are also financial risks. Moody’s SQS1 recognition confirms the strength of our approach” said Rachael A.O. Antwi, Group Head of Sustainability & ESRM, Ecobank Transnational Incorporated
