London, 15 October 2026 – The African Local Currency Bond Fund (“ALCB Fund”), managed by Cygnum Capital, has invested XOF 4 billion (USD 7.0 million) in the XOF 30 billion (USD 52.2 million) debut green bond issued by Swami Agri, one of Senegal’s largest agricultural producers.

The transaction marks Swami Agri’s inaugural capital markets issuance and the first agricultural green bond issued in the UEMOA region. It is also a rare example of a corporate issuer using the local bond market to finance investment in renewable energy and agricultural infrastructure, with proceeds directed towards solar panels and cold-storage units. The ALCB Fund’s investment supports Swami Agri in bringing this financing to the local market.

The five-year, XOF-denominated bond benefits from a first-demand guarantee issued by the African Guarantee and Economic Cooperation Fund (FAGACE).

The investment programme targets a 70–90% renewable energy share across storage and production operations, a 20-30% reduction in CO₂ emissions, a reduction of at least 50% in post-harvest losses, and the creation of at least 700 direct jobs, while supporting Senegal’s path towards self-sufficiency in potatoes and onions.

Fola Pedro, Transaction Lead at the ALCB Fund, Cygnum Capital, commented: “For the ALCB Fund, the strength of this transaction lies in the combination of a first-time corporate issuer, a clear use of proceeds, and the first agricultural green bond in the UEMOA market. The bond will add 62,500 tonnes of solar-powered cold-storage capacity and 16.7 MW of solar generation, helping reduce post-harvest losses and giving the agricultural value chain more capacity to store and market produce. It is an important milestone for Swami Agri and a strong example of what can be financed through the regional bond market. We are pleased to have supported the transaction.”

Hitesh Gorasia, Chief Executive Officer and Managing Director at Swami Agri, said: “This issuance allows Swami Agri to finance its next phase of growth with longer-term local currency funding. The new solar plants and increased cold-storage capacity will reduce our emissions and our post-harvest losses, and take Senegal closer to self-sufficiency in potatoes and onions. We are proud to be the first agricultural issuer to bring a green bond to the regional market, and grateful to the ALCB Fund for supporting the transaction.”

Ababacar Diaw, Managing Director and Board Member of IMPAXIS Securities, the transaction’s Arranger and Lead Manager, commented: “Agriculture is a priority sector for Senegal, and this transaction shows how the regional capital market can provide long-term local currency financing for its development. As the first agricultural green bond in the UEMOA region, Swami Agri’s issuance combines agricultural investment with a clear environmental purpose, financing solar energy and cold storage to reduce emissions and post-harvest losses. We are proud to have arranged and led this transaction, which demonstrates the role of the capital market in financing private sector growth and supporting food security.”

Dr Basile Tchakounte, Secretary General of FAGACE, said: “FAGACE is pleased to support Swami Agri in its inaugural capital markets transaction by providing a 100% guarantee covering both principal and interest. This transaction highlights the critical role of de-risking instruments deployed by FAGACE to bolster investor confidence and drive private sector development in alignment with our mandate. We look forward to supporting more impactful transactions like Swami Agri’s green bond.”