Second Sovereign Sukuk from Ivory Coast

The Ivory Coast has issued its second sukuk following the launch and issuing of sukuk from neighbouring Senegal and Togo.

Sukuk Profile

The Ivory Coast sukuk for a value of 150 billion CFA and a seven-year maturity is backed by the property assets of the state including the building of the International Trade Centre of Abidjan (ICC) in the Plateau district, valued at 98 billion FCFA, and administrative towers A and B which are the seat of several ministries. The sukuk represents Ivory Coast’s second sukuk after an issuance last year.

The lead arranger is the Islamic Corporation for the Development of the Private Sector (ICD), a subsidiary of the Islamic Development Bank (IDB). The co-lead managers are Bibe Finance & Securities (BFS), based in Cotonou, Bici Exchange (BNP Paribas Group) and BNI Finance Ivory Coast.