ع
Nasdaq Dubai on October 19 welcomed the secondary listing of two sovereign bond issuances totaling $1.55 billion by the Republic of the Congo, establishing the Central African nation as the first sovereign issuer from the continent to list securities on the exchange. The move complements the bonds’ original listing on the London Stock Exchange and seeks to increase their profile among institutional investors, banks and corporates across the Middle East. In an announcement distributed by the Emirates News Agency, the exchange noted that the development also strengthens financial sector ties between the UAE and Congo.
The issuances comprise a $700 million tranche of 9.500 percent amortising notes due February 17, 2035, together with an $850 million tranche of 9.500 percent amortising notes due May 26, 2036, according to details released by Nasdaq Dubai. A statement from Congolese authorities carried in the announcement said the dual listing aligns with a wider strategy of diversifying the investor base and reflects confidence in the UAE market’s ability to connect issuers with international capital. The Republic expects the step to heighten visibility for its sovereign debt instruments among regional participants.
Hamed Ali, CEO of Nasdaq Dubai and the Dubai Financial Market, described the listing as a milestone that underscores Dubai’s growing function as a global venue for cross-border capital flows. “Welcoming the Republic of the Congo as our first African sovereign issuer is a milestone moment for Nasdaq Dubai and a strong testament to Dubai’s expanding role as a global marketplace for cross-border capital flows,” Ali said. He added that the debut brings African sovereign debt closer to Middle Eastern investors and demonstrates the exchange’s role as an efficient, transparent gateway to a deep pool of regional institutional capital.
With the new listings, Nasdaq Dubai’s total outstanding debt now exceeds $147.5 billion, the exchange reported, while sovereign issuances represent 43 percent of that aggregate. Market updates from the Dubai Financial Market show the figure has risen from more than $141 billion in outstanding debt recorded in late 2025, reflecting sustained appetite for both conventional and Islamic instruments on the platform. The growth aligns with a series of recent debt listings that have included green sukuk and corporate bonds from prominent regional issuers.
The secondary listing on Nasdaq Dubai follows initial issuance on the London Stock Exchange, a structure that allows the Republic of the Congo to tap Gulf liquidity without altering the bonds’ original terms. Officials noted that the platform’s regulatory framework and investor base provide an efficient channel for African sovereigns seeking to broaden their financing options. This transaction marks the latest example of Dubai’s capital markets serving as a bridge between emerging economies and established investor communities in the Middle East.
Nasdaq Dubai has positioned itself as the regional international exchange for issuers between Western Europe and East Asia, according to its own corporate disclosures, and the Congo listing extends that mandate into new geographic territory. The exchange continues to attract both sovereign and corporate borrowers by offering streamlined listing processes and access to diversified capital. Further African sovereign participation could follow if the debut meets expectations for improved liquidity and investor engagement.
