Zambia refinances 2053 notes and modernizes power grid
29/05/2026 [updated 01/06/2026] The Republic of Zambia has launched a cash tender offer to repurchase its $1.36 billion notes due 2053 - the bond was issued as part of the country's landmark debt restructuring. Under the offer, holders receive $780 per $1,000 of principal and $740 per $1,000 thereafter. The buyback, financed in part by a $600 million loan from the African Development Bank, allows Zambia to reduce its debt-servicing costs, streamline its maturity profile, and lay the groundwork for a return to international capital markets. As a condition of the financing, Zambia will launch a 15-year national Grid Resilience Program to strengthen the country’s electricity distribution network, thereby linking fiscal responsibility with long-term development. The Grid Resilience Program will be coordinated by GreenCo Power Services and implemented by a new entity led by both private sector and government representatives.
SeyCCAT Celebrates 10-Year Anniversary
In November 2025, Seychelles Conservation and Climate Adaptation Trust (SeyCCAT) marked ten years since its creation. This pioneering debt conversion redirected national debt into marine conservation. Over the past decade, the trust has channelled substantial funding through its Blue Grants Fund and strategic partnerships to local NGOs, government agencies, community groups, and youth and entrepreneurs to advance sustainable ocean stewardship. With 48% of projects led by women, SeyCCAT has supported 97 grantees and disbursed more than 67 million in local currency, strengthening marine protection, fisheries, habitat restoration, climate resilience and blue economy ventures.
