Egypt accounts for nearly half of Africa’s sukuk market
Egypt accounts for 48% of the outstanding African sukuk market, as countries adopt sukuk issuances as an alternate source of funds, according to Fitch Ratings.
Outstanding African sukuk crossed $7 billion in August 2026, up about 16% year on year. But it made up less than 1% of global sukuk outstanding, due to structural constraints.
Egypt issued its debut US dollar sovereign sukuk in 2023 and is subsequently emerging as a regular and substantial issuer of US dollar sukuk following regulatory reforms and deepening ties with the six-nation GCC, the credit agency added.
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