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African Domestic Bond Fund (ADBF) is now listed on the Botswana Stock Exchange

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Capital Markets

MCB Capital Markets (“MCBCM“) is pleased to announce the secondary listing of the African Domestic Bond Fund (“ADBF“) on the Botswana Stock Exchange (“BSE“).

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ADBF is a USD-denominated exchange-traded fund that was launched in September 2018 with a primary listing on the Mauritius Stock Exchange.

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It is managed by MCB Investment Management, the asset management arm of the MCB Group (https://www.MCB.mu).

The African Development Bank is the main investor and sponsor of ADBF.

The main objective of the fund is to promote the development of local currency capital markets in Africa by providing investors with access to pan-African government bonds in local currency through a transparent, profitable and liquid vehicle.

African local currency debt is a fast-growing asset class, with market capitalization reaching almost US$1 trillion as of August 2022.

Based on total return in USD, the asset class has outperformed its peers.

Global Fixed Income, including US Treasuries, US Investment Grade Bonds, US High Yield and Emerging Markets in USD over a 1-year, 3-year and 5-year period.

The fund’s total cumulative return in USD as at 31 August 2022 was 27.6% and 51.6% in BWP.

Stefan Nalletamby, Director of the Financial Sector Development Department at the African Development Bank, said: “This listing on the BSE is a very positive development as the state of the fund’s local assets will allow Botswana institutional investors to invest in the fund as part of its national investment.

allocations This list aligns with our mandate to develop capital markets products in our regional member countries.” Rony Lam, CEO of MCB Capital Markets, commented: “ADBF’s secondary listing on the BSE is another important milestone in the fund’s evolution.

We are confident that ADBF’s strong performance track record and dual listing will attract more investor interest in the African local currency fixed income asset class.” Abhimanyu Yadav, Head of Fixed Income and FX at MCB Capital Markets, commented: “We are excited about our first ever cross-listing on African exchanges for the ADBF and recognize and appreciate the hard work and dedication of various teams in bringing this to fruition.

This is a significant achievement, in line with our partnership with AfDB to develop and improve African capital markets and provide them with greater transparency and access to investors.”

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