Burkina Faso launches its first Sukuk on the regional financial market to diversify funding sources
via Lefaso.net19 min read
Burkina Faso is launching its first Islamic bond, or Sukuk, on the regional financial market, aiming to raise 75 billion FCFA. This initiative follows the success of its first Diaspora Bonds and is part of the country's strategy to diversify funding sources and mobilize endogenous resources through innovative financial instruments. The operation, led by Société de gestion et d’intermédiation Image Finances Internationales SGI-IFI as the lead arranger, is open for subscriptions from June 26 to July 17, 2026. Issa Malgoubri, CEO of SGI-IFI, explained that the Sukuk, named FCES Sukuk Burkina Renaissance 6.80% 2026-2035, is structured around real assets, where investors subscribe to shares representing economic rights linked to these assets. This differs from conventional bonds, which are debt-based and pay interest. The Sukuk offers an annual profit margin of 6.80%, distributed semi-annually, with a maturity of 9 years. The funds raised will finance economic and social development projects in the state budget. The nominal value per share is 10,000 FCFA, making it accessible to both institutional and individual investors. Malgoubri emphasized that Sukuk is not exclusive to Muslims but is a financial instrument based on principles of real economic activity, transparency, and ethical finance, appealing to a broad range of investors seeking diversification and responsible investment. Investors can subscribe through SGI-IFI or other approved SGI members of the placement syndicate, pr
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