Angola’s First Sustainability Bonds Debut on the Stock Market

BAI, one of Angola’s largest banks, has the country’s first Sustainability Bond admitted to trading on Angola’s stock exchange, BODIVA, following the country’s first Public Offering of Subscription (OPS) of sustainability bonds, with technical support from UNDP through the Italy-supported PISTA initiative.

September 24, 2026

ROME, Sept 22, 2026 — The Banco Angolano de Investimento (BAI) Sustainability Bond is now trading on the Bolsa de Dívida e Valores de Angola (BODIVA), following the completion of the country’s first Public Offering of Subscription (OPS) of sustainability bonds.

The offer raised Kz 57.5 billion, equivalent to 115% of the Kz 50 billion initially offered, with 454 subscription orders received, of which 431 were satisfied, with each bond carrying a nominal value of Kz 10,000.

The transaction represents the first Public Offering of Subscription of sustainability bonds in Angola, combining green and social dimensions. with the funds raised intended to finance or refinance eligible projects with environmental and/or social benefits, according to the criteria established in BAI’s Bond Framework and Prospectus. The eligible categories are aligned with one or more of the United Nations Sustainable Development Goals (SDGs) and with the issuer’s sustainability strategy. The issuance brings together technical work by BAI and the United Nations Development Programme (UNDP) around the bond’s framework, with support through PISTA.

The work forms part of broader efforts in Angola through the Platform for Investment Support and Technical Assistance (PISTA), a UNDP Rome Centre programme financed by the Italian Ministry of Environment and Energy Security (MASE), working with national institutions to strengthen the foundations for sustainable finance. Denise António, Resident Representative of UNDP Angola, highlighted the importance of creating stronger links between sustainable development priorities and financial markets: “Sustainable finance is about attracting private capital as a key driver of development. The BAI Sustainability Bond shows how financial markets can contribute to this. UNDP has supported this work alongside national institutions, with Italy through PISTA.”

The Ambassador of Italy to Angola, Marco Ricci, also present at the Ring the Bell event, highlighted Italy's support for Angola's efforts to develop sustainable finance, including through the partnership with UNDP under PISTA.

Agostino Inguscio, Coordinator of the UNDP Italy Office and UNDP Rome Centre, said: "What this bond shows is that Angola is strengthening the foundations for financing sustainable business. We were glad to support the institutions that made that possible."

The transaction is one example of the work underway to strengthen Angola’s sustainable finance ecosystem, bringing together financial market actors, national institutions and international technical cooperation.

About UNDP Angola

The United Nations Development Programme (UNDP) is the United Nations’ leading organization on international development. Working in 170 countries and territories, UNDP helps countries build integrated and lasting solutions for people and planet, with a focus on poverty reduction, inequality, governance, resilience and climate action.

About PISTA

The Platform for Investment Support and Technical Assistance (PISTA) is a UNDP Rome Centre programme, developed with the Italian Ministry of Environment and Energy Security (MASE), that identifies climate and clean energy projects and provides technical assistance to strengthen their bankability, then supports them in mobilizing financing from national and international instruments.

About UNDP Rome Centre

UNDP Rome Centre for Climate Action and Energy Transition is UNDP's platform for the partnership between the Government of Italy and UNDP, working on climate finance, clean energy and project pipeline development across UNDP's country network.