On October 7, 2026, Guinea's Minister of Economy, Finances, and Budget, Mariama Ciré Sylla, held a meeting with key players in the Guinean banking sector. The discussion centered on the state's 2,500 billion GNF bond issue, launched to finance the country's economic development. The minister emphasized the importance of the banking sector's involvement in this operation, encouraging them to consider themselves strategic partners in Guinea's economic transformation.
The bond issue, led by Afriland First Bank, aims to mobilize resources for national development projects, including infrastructure, energy, education, and healthcare. Minister Sylla highlighted the government's commitment to prioritizing domestic resources, citing the benefits of keeping interest earnings within the local economy. She also reassured the banking sector of the state's reliability, noting that all previous bond issues had been paid on time.
According to the minister, the current economic dynamic requires a more capable national financial system to mobilize savings and finance key projects. She stressed that the 2,500 billion GNF will be allocated to specific projects identified in the Finance Law, including energy, road, school, and healthcare sectors. The minister also announced the government's commitment to regular information on fund utilization, a more predictable emission schedule, and respect for repayment deadlines.
The Governor of the Central Bank of the Republic of Guinea (BCRG), Karamo Kaba, called for a broader strategy to develop the financial market. He identified five priorities: confidence, better coordination between the Treasury and the Central Bank, diversification of the investor base, improved liquidity of securities, and sustainability of emissions. The BCRG aims to avoid excessive concentration of public securities in bank balance sheets, preserving their capacity to finance the private sector.
The banking sector expressed confidence in the Guinean state's signature, citing no defaults on previous bond issues. The president of the Professional Banking Association (APB) emphasized the need to expand the investor base beyond the banking sector. Afriland First Bank's Director-General, Dr. Guy Laurent Fondjo, noted that the current bond issue illustrates the growth of the Guinean financial market, with a potential to double the 2,500 billion GNF target.
Dr. Fondjo recalled that in 2015, the first bond issues were around 500 billion GNF, compared to 2,500 billion GNF today. He expressed optimism about the potential for domestic resource mobilization, citing 88,000 billion GNF in bank deposits in Guinea. The bond issue has a five-year maturity and an annual interest rate of 11%, with a subscription period from September 25 to October 23, 2026.
The Guinean government aims to build a credible and sustainable public securities market, serving the country's development while preserving monetary and financial stability. The minister and the banking sector will work together to achieve this goal, with the sector already considering the 2,500 billion GNF target as achieved and exploring ways to double it.
Key points
- The Guinean government has launched a 2,500 billion GNF bond issue to finance national development projects.
- The banking sector has expressed confidence in the Guinean state's signature, citing no defaults on previous bond issues.
- The bond issue has a five-year maturity and an annual interest rate of 11%, with a subscription period from September 25 to October 23, 2026.
