 
							
			
			
			
		 Monday, 14 April 2025 11:02
	  		Monday, 14 April 2025 11:02	  	
	  	
	  	
	  		  	     
        
	  Senegal’s treasury ended its public bond offering on April 10 with CFA405 billion—more than twice its initial target of CFA150 billion. The offering, launched on March 27 and scheduled to run until April 26, was closed early due to overwhelming investor interest.
The bonds offered yields between 6.40% and 6.95%, depending on their maturity. They will be listed on the West African regional stock exchange (BRVM), making them easier to trade—especially attractive to institutional investors looking for stable returns.
The successful fundraising comes as Senegal’s public finances face growing pressure. In February, an audit by the national accounting office revealed the country’s public debt had reached 99.67% of GDP, and the 2023 budget deficit stood at 12.3%. Both figures were significantly higher than previous estimates.
Following the audit, credit rating agencies Moody’s and Standard & Poor’s downgraded Senegal’s sovereign rating to B3 and B, respectively, both with negative outlooks. The downgrades have led to a freeze in disbursements under the €1.8 billion support program agreed with the IMF last year.
The government has not yet disclosed how much of the CFA405 billion it plans to retain. However, the success of this offering could influence future bond issues across the West African Economic and Monetary Union (WAEMU).
Senegal is turning more to local financial markets for funding. In addition to this bond issue, the government has already raised over CFA361 billion this year through auctions managed by the WAEMU debt agency. Another CFA90 billion is expected to be raised on April 14.
 19:54
                19:54
                             19:51
                19:51
                             19:49
                19:49
                             19:46
                19:46
                             19:43
                19:43
                             19:30
                19:30
                             19:26
                19:26
                             19:21
                19:21
                             19:17
                19:17
                             18:31
                18:31
                            Sonatel is a major telecom company in West Africa that investors trust, offering steady growth and...
 
        Wave launches Wave Bank Africa in Côte d'Ivoire with $32M capital Move follows €117M fu...
 
        Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...
 
        ECOWAS will integrate AI into its early warning systems to strengthen crime prevention and intelli...
 
        NGE wins two contracts for sanitation, coastal protection in Senegal Projects target Dakar’s Hann...
 
        Mozambique launched "Big Data in Telecommunications" platform to send geo-located SMS and voice alerts during natural disasters. System enables...
Indian bottler VBL signs exclusive deal to test Carlsberg sales in Africa Move aims to diversify beyond soft drinks into the growing alcohol...
AFG Bank Mali launches CFA100 billion fund to support local mining firms Regional financiers like Dossongui, Nassa, and Tiemtoré now own or fund...
Veolia's major Moroccan desalination project, Africa's largest, is almost a year old but remains "in the maturation phase" with no public progress...
The Eyo Festival, also known as the Adamu Orisha Play, stands among the most iconic cultural events in Lagos, Nigeria. This traditional Yoruba procession,...
Asmara, the capital of Eritrea, is often described as Africa’s modern city for its remarkable architectural heritage and forward-thinking urban design....