Africa’s collateral economy: How gold, cocoa and copper are reshaping frontier bonds

Gold bars. Photo by Zlaťáky @ Unsplash
Gold bars. Photo by Zlaťáky @ Unsplash

With Eurobond markets still selective, African sovereigns are leaning on assets – gold, cocoa and minerals – turning supply chains into collateral and risk.

Africa’s debt story is no longer just about coupons and maturities. It is increasingly about cargoes, harvests and how quickly a ship can leave port.

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