• WAEMU states plan to raise CFA1,300 bln ($2.3 bln) from Sept–Nov 2025
• Côte d’Ivoire and Senegal lead issuers with CFA240 bln and CFA190 bln programs
• Annual target set at CFA10,700 bln, above CFA8,127 bln raised in 2024

WAEMU countries plan to raise CFA1,300 billion ($2.3 billion) on the regional public securities market between September and November 2025, according to a provisional schedule released by UMOA-Titres, the regional public debt management agency.

The amount combines the programs of all member states. It will be raised through CFA515 billion in Treasury bills and CFA785 billion in Treasury bonds. Maturities range from a few months to seven years, giving treasuries flexibility to diversify funding sources and meet investor demand. Planned issuance is set at CFA520 billion in September, CFA460 billion in October, and CFA320 billion in November.

The goal is to cover short, medium, and long-term financing needs. Funds will help close budget gaps and support projects across various sectors.

Côte d’Ivoire and Senegal lead issuance

The calendar shows nearly 25 auctions scheduled in three months. Côte d’Ivoire is the largest planned issuer with close to CFA240 billion, followed by Senegal with CFA190 billion. Burkina Faso and Mali also have strong programs of CFA180 billion and CFA170 billion respectively. Benin and Guinea-Bissau, though smaller issuers, will take part with modest but steady offerings.

This volume is lower than in the second quarter of 2025, when states attempted to raise CFA2,600 billion. For the full year, WAEMU governments aim to mobilize CFA10,700 billion, higher than the CFA8,127 billion raised in 2024.