The operation, which aimed for about CFA 400 billion, exceeded expectations.
Côte d'Ivoire has successfully completed a CFA 450 billion ($746.7 million) bond exchange on the West African Economic and Monetary Union (WAEMU) market. The operation, which exceeded the initial CFA 400 billion target, was designed to reschedule part of the country’s 2025 debt payments by offering investors new bonds with 5- and 7-year maturities, at interest rates of 5.90% and 6%, respectively.
Facing a repayment of CFA 5,635 billion in 2025, including CFA 2,000 billion in domestic bonds and obligations, the country aimed to spread its payments and avoid a payment spike. According to market sources, demand was strong, despite slightly lower interest rates compared to some of the existing bonds, which had rates as high as 6.25%.
The exchange, which took place between February 19 and March 4, was open to holders of bonds maturing between February and June 2025. The final amount of CFA 450 billion reflects a higher-than-expected participation.
This transaction is part of Côte d'Ivoire’s proactive public debt management strategy, as its debt now approaches 60% of GDP, well below the 70% threshold set by WAEMU.
Despite an uncertain economic environment, Côte d'Ivoire is projected to grow by 6.1% in 2024, with inflation falling to 2.1% in December. In 2025, the country aims for a growth rate of around 7%. To support this, the IMF is backing Côte d'Ivoire with a $3.5 billion program over 40 months to strengthen its macroeconomic fundamentals.
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Kenya to fund Nairobi airport expansion using pipeline company IPO proceeds Government allocates $155 million seed capital from National...
Angola receives 596 investment proposals worth $21.8 billion in five years About 80% of proposals came from Chinese investors Reforms and...
Palm oil futures in Malaysia surged 9%, their biggest one-day gain in three years. The spike follows rising oil prices after escalating tensions in the...
Côte d’Ivoire has signed an agreement with the National Investment Bank to support diaspora-led projects. The deal includes tailored banking products,...
Located about forty kilometers east of Lomé along the Gulf of Guinea, Aného is one of the most historically significant towns in Togo. Nestled between a...
African-born artists generated $77.2 million in auction sales in 2024, down 31.9% year-on-year. Women artists accounted for about $22...