The amount raised will be used to cover expenses planned in the national budget. This year, the country has already raised at least 707 billion CFA francs in this market segment managed by UMOA-Titres.

Initially seeking 30 billion CFA francs (approximately $50.6 million) in the public securities market through an auction organized by Umoa-titres, Senegal successfully raised 32.96 billion CFA francs on July 21. The securities met strong demand, which totaled 45.7 billion CFA francs, significantly exceeding the initial offer, resulting in a coverage rate of 152.43%.

The majority of this demand comes from foreign investors, showcasing their trust in Senegalese securities. Investors based in Côte d'Ivoire were the most active, followed closely by those from Burkina Faso.

This operation included three types of securities. The first is a 1-year treasury bill; the second is a 3-year bond with 6.00% interest and a weighted average yield of 7.34%; the third is a 5-year bond with a 6.15% interest and a weighted average yield of 7.24%.

From year to date, Senegal has auctioned its securities 38 times (20 times for bills and 15 times for bonds) in the public securities market. The cumulative amount raised is 707 billion CFA francs (over $1.1 billion).

Fiacre E. Kakpo