• Togo raises 27.5 billion CFA francs, exceeding 25 billion target

• Strong demand with 134.5 billion CFA francs bids, 538% coverage

• Total 2026 issuance reaches 49.5 billion toward 463.5 billion goal

Togo carried out its second operation of the year on the regional financial market, organized by UMOA-Titres, on Friday, March 20. Through a dual issuance of Treasury bonds (OAT) and Treasury bills (BAT), the Togolese Treasury raised 27.5 billion CFA francs, exceeding its initial target of 25 billion CFA francs.

According to results published by Togo First, the Treasury raised 9.5 billion CFA francs in three-year OATs at a fixed interest rate of 6.15%. It also raised 13 billion CFA francs through five-year OATs at an annual rate of 6.35%. A further 5 billion CFA francs was raised via 364-day BATs.

Total bids reached 134.5 billion CFA francs, corresponding to a coverage ratio of 538.3%. The operation, Togo’s second market issuance in 2026, brings total funds raised since the start of the year to 49.5 billion CFA francs.

For the full year, the country plans to raise 463.5 billion CFA francs on the regional market to help finance a state budget set at 2,751 billion CFA francs.

Esaïe Edoh