Green Bond, Zambia

The US$200 million green bond programme in Zambia had its first tranche fully subscribed including a large placement with Emerging Africa as well as other local pension funds. The proceeds from the bond will be deployed towards further solar generation initiatives within the CEC group, and will help fast-track green energy transition in Zambia and the region. In remarks delivered during a ceremony on the listing of the green bond on the Lusaka Stock Exchange, Minister of Finance and National Planning Situmbeko Musokotwane noted that the listing paves the way for other companies to raise green finance for their businesses to contribute to the growth of Zambia’s green economy. Collins Nzovu, the minister of Green Economy and Environment, said attracting green finance was an important aspect of enabling Zambia’s transition to a climate-resilient and inclusive green economy under the green growth strategy.