Changing lives in Africa

Social bond supports new initiatives in food, power, and entrepreneurism across the continent

Fixed-income investing |
AfDB Social Impact Bond
A recent social bond purchase is creating life-changing impact across Africa. We continue to add positive fixed income investments to the Praxis Impact Bond Fund, generating both a competitive return and transformative impact throughout the world.

This social bond was offered through the African Development Bank (AfDB) and is the organization’s first social bond issued within AfDB’s new Sustainable Bond Framework. The African Development Bank is committed to the prosperity of Africa through a ten-year strategy to support local infrastructure and support resilient economies.

African Development Bank’s priorities for impact are known as the “High 5s”:

  1. Light and power up Africa
  2. Feed Africa
  3. Industrialize Africa
  4. Integrate Africa
  5. Improve the quality of life for the people of Africa

The AfDB social bond has real world implications for individuals and communities alike. As in Cameroon, where food insecurity and fishmonger working conditions are being strengthened through supporting fish farmers. A female fish farmer, Fanta Njifondjou Oumarou (pictured below), says that “We have real motivation to continue what we’ve started. We thank all the partners who have made this progress possible. Today, I feel better equipped to make a profit from fish farming.” This support not only benefits her family, but also the surrounding Cameroon community

AfDB social bond

Fanta Njifondjou Oumarou

 

This mission aligns with Praxis’ stewardship investing core values of respecting the dignity and value of all people, demonstrating a concern for justice globally, and supporting the development of people and communities. Even more specifically, this AfDB social bond is supporting growth in Africa through:

  • 400,000+ people trained for better job opportunities
  • 5 million people gained access to clean water and sanitation
  • 6.5 million tons increase in annual farm production
  • 2 million+ people now have reliable electricity

Read more about the details and mission of this social bond here. The Praxis Impact Bond Fund holds a diverse collection of impact investments such as green bonds, low-income housing, education investments, renewable energy projects, and social bonds, like this one.

Learn more about the ways your fixed income investments and personal values could work together with Praxis.


About the Author


Benjamin Bailey, CFA, Vice President of Investments, Co-portfolio Manager of Praxis Impact Bond Fund | Praxis Mutual Funds
Benjamin Bailey, CFA
Vice President of Investments

Benjamin joined Everence® in 2000 and was named Co-Portfolio Manager of the Praxis Impact Bond Fund in 2005, and Co-Manager of the Praxis Genesis Portfolios in 2013. In 2015, he was named Senior Fixed Income Investment Manager, providing leadership to the fixed income team and oversight to external sub-advisory relationships. Connect with Benjamin on LinkedIn.


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How we invest

At Praxis, our investments generate a competitive financial return and deliver a clear and direct benefit to people and our planet.

 

Disclosure

As of October 31, 2025, the Praxis Impact Bond Fund has invested 0.18% of its assets in the African Development Bank (AfDB) social bond. Fund holdings are subject to change. To obtain holdings as of the most previous quarter, visit praxisinvests.com.

Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

The Fund’s investment strategy could cause the fund to sell or avoid securities that may subsequently perform well.

You should consider the fund’s investment objectives, risks, sales charges and expenses carefully before you invest. The fund’s prospectus and summary prospectus contain this and other information. Please read them carefully before you invest.

Investment products are not FDIC insured, may lose value, and have no bank guarantee. Praxis Mutual Funds are advised by Praxis Investment Management, Inc. and distributed through Foreside Financial Services, LLC.