The BRICS New Development Bank has raised 1.5 billion rand through a bond sale in South Africa, according to Reuters. The issuance, denominated in local currency, matures in 2029 and marks the lender’s first rand bond offering in the country this year.

The move comes as investors continue to track shifts in capital flows across emerging markets. Local-currency borrowing can help reduce foreign-exchange risk for issuers, while also giving the bank access to a broader pool of regional investors.

The New Development Bank, created by the BRICS bloc, has increasingly used bond markets to finance lending operations. This latest sale adds to that funding strategy at a time when many emerging-market borrowers are balancing higher rates, currency volatility, and tighter global financial conditions.

For South Africa, the transaction reflects ongoing activity in its domestic debt market and the continued role of large multilateral lenders in raising funds from local investors. Reuters said the bond matures in 2029.

South africa bond

BRICS bank raises 1.5 billion rand in South African bond sale