The Democratic Republic of Congo’s finance ministry has awarded Rothschild & Co a services contract to support the country’s planned entry into international capital markets and help mobilize new financing.
Finance Minister Doudou Fwamba signed the contract award on March 24, 2026. The agreement runs for 12 months, with a quarterly fee of €500,000, excluding VAT, for a total of €2 million over the full period.
The contract was awarded through a negotiated procedure. According to the award decision, authorities filed a request for special authorization on Oct. 13, 2025. On Nov. 10, the Directorate General for Public Procurement Control (DGCMP) approved the use of this procedure and issued a no-objection clearance on the negotiation records and draft contract. A request for contract approval was then submitted to Prime Minister Judith Suminwa in December 2025.
The agreement is part of preparations for Congo’s first international bond issuance, aimed at raising $750 million. The award decision does not specify Rothschild & Co’s exact mandate. In January 2026, Bloomberg reported that Citigroup would lead the transaction with support from Rawbank, while Rothschild & Co would act as financial adviser and White & Case LLP as legal counsel.
According to Africa Business+, Rothschild was among advisers involved in Côte d’Ivoire’s eurobond issuance in March 2025. The Ivorian government raised $1.75 billion at a rate of 6.45% for an 11-year tenor, with orders reaching $5.2 billion.
Congolese authorities aim to complete the transaction before the end of the first half of 2026, although the timeline remains uncertain. In a report published in January 2026, the International Monetary Fund said a bond issuance before mid-2026 was unlikely, citing outstanding technical work, pending investor engagement and the need for prior parliamentary approval.
With this contract, the government is taking a further step toward entering international capital markets, though the timing and final terms of the transaction have yet to be finalized.
Timothée Manoke
