CDEx Africa Records Record Capital Raise as Three Cooperatives List Debentures

A Milestone for Cooperative Capital Markets

CDEx Africa has recorded its largest single-week capital raise since launch, with three agricultural cooperatives collectively issuing USD 2.4 million in commodity-backed debentures (CDEs).

The listings, which closed on Friday, drew strong interest from both institutional and retail investors across the SADC region.

Key Highlights

• Harare Grain Producers Cooperative raised USD 980,000 against a maize-backed asset pool
• Mashonaland Dairy Cooperative issued USD 750,000 in 18-month CDEs at 11.5% yield
• Midlands Cotton Growers Cooperative secured USD 670,000 with a 24-month tenor

Market Response

Trading volumes on the secondary market rose 34% week-on-week, reflecting growing liquidity in the CDE asset class. The CDEx Composite Index gained 1.8% on the news.

"This validates our thesis that African cooperatives can access institutional capital markets when given the right structured framework," said the CDEx CEO in a market commentary.

Outlook

With a further five cooperatives in the onboarding pipeline, CDEx projects total listed CDE capital to exceed USD 10 million by year-end.