Energy Capital & Power

Emergence Plaza Issues West Africa’s First Green Corporate Bond

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August 2021 saw the sale of West Africa’s first green corporate bond, and more are anticipated to follow as financial advisers and firms promote the asset class in an effort to draw more investment into the region.

According to Kadi Fadika-Coulibaly, managing partner of Hudson & CIE – the company who organized the deal – the $17.8 million bond was issued by property developer Emergence Plaza, which owns the Cosmos Yopougon retail complex in Abidjan.

With only $3.96 billion in green bonds raised in Africa to date, compared to the $300 billion raised internationally, the bond sale marks a significant step towards meeting rising demand for finance to combat climate change. According to the Climate Bonds Initiative, which promotes the issuance of such debt, non-financial enterprises had only generated $64 million prior to the Emergence Plaza sale.

The bond issuance, therefore, will significantly enhance regional renewable developments, creating the opportunity for companies such as Hudson & CIE to sell green debt on behalf of renewable energy firms and municipalities in the region.

“We have had issuers and companies approach us, most of those are in the energy industry. For Ivory Coast and West Africa for the rest of this year you will see more issuance,” stated Fadika-Coulibaly in an interview last week.

According to Emergence Plaza, the Cosmos Yopougon retail complex cut its carbon emissions by 44% in 2020 by adopting the EDGE system to optimize its energy consumption. Cosmos Yopougon has teamed with local clean technology and recycling companies to undertake initiatives to improve its sustainability as part of its eco-sustainability strategy.

Energy Capital & Power – Africa’s leading energy event organizer – will host the Africa Energy & Mining 2022 Conference & Exhibition, which will be held in Johannesaburg on March 29-31. To learn more about the Africa Energy & Mining series and the post-COVID-19 energy and mining landscape in Africa, please visit For sponsorship or exhibition opportunities, please contact [email protected].

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Jasser Hammami

Jasser Hammami