SA can use Islamic bonds to fund just transition, says S&P
The country returned to the sukuk market by issuing a rand-denominated Islamic bond in November 2023
05 February 2024 - 05:00
Two months after the Treasury broadened its funding base through the launch of sovereign rand-denominated sukuk worth R20bn, ratings agency S&P Global Ratings said SA could use the Islamic bond to fund its future just transition requirements.
S&P on Friday said while enthusiasm for the sukuk has been limited in Africa, SA has been one of the few countries that has shown appetite for the debt instrument, which might come in handy in the medium to long term...
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