The West African Economic and Monetary Union (UEMOA) reached a milestone in sustainable finance as its regional mortgage refinancing institution completed the region’s first social bond listing on the Luxembourg Green Exchange, according to a statement.
On Monday, Jan. 12, the Luxembourg Stock Exchange announced the listing of a 60 billion CFA franc bond valued at about 91 million euros, marking the first appearance of a West African social bond on the green platform.
The bond was issued by the Regional Mortgage Refinancing Fund of the West African Economic and Monetary Union (CRRH-UEMOA) and is dedicated to refinancing residential mortgage portfolios for low- and middle-income households across the eight-member bloc.
The instrument was initially admitted to trading on the Bourse Régionale des Valeurs Mobilières in September 2025, becoming that exchange’s first listed social bond. The dual listing marks the first between the two exchanges since a cooperation agreement was signed in 2022.
“This dual listing reaffirms our commitment to putting social impact at the core of everything we do. Every FCFA raised has a direct and measurable effect on improving the living conditions of households across the region,” said Yedau Ogoundele, CEO of CRRH-UEMOA.
Executives from the mortgage fund, the Luxembourg Stock Exchange and the regional exchange marked the occasion with a Ring the Bell ceremony in Luxembourg, the first such event involving a West African issuer this year.
Founded in 2010 and headquartered in Lomé, Togo, the Regional Mortgage Refinancing Fund provides long-term refinancing to commercial banks to expand access to housing finance within the union.
