• CAR Treasury returns to market, seeks up to $88.4M via new bond lines
  

• Three- to five-year bonds to fund $12.8B national development plan
  

• 2025 fundraising goal nearly met, latest issue likely to surpass target
  

The Central African Republic’s (CAR) Public Treasury returned to the CEMAC financial market on Monday, November 17, 2025. It launched a new debt issuance on the public securities platform operated by the Bank of Central African States (BEAC).

The Treasury is offering three lines of Treasury bonds, known as Obligations du Trésor Assimilables (OTAs), and aims to raise between 35 billion and 50 billion XAF, the equivalent of roughly 68 million to 88.4 million dollars.

According to the issuance details, the operation covers three maturities. The first is a three-year bond maturing on November 19, 2028, for which the Treasury is seeking between 15 billion and 20 billion XAF at an interest rate of 6.25 percent. The second is a four-year maturity due on November 19, 2029, carrying a yield of 6.75 percent and targeting a similar amount. The final line is a five-year bond maturing on November 19, 2030, through which the Treasury hopes to raise between 5 billion and 10 billion XAF at a rate of 7 percent.

Funds raised from this issuance will be allocated to the National Development Plan 2024-2028 (PND-CAR), the country’s first long-term development framework, adopted in September 2024. The plan identifies 58 projects with an estimated total cost of 12.8 billion dollars. Priority areas include modernizing infrastructure, boosting agriculture, investing in human capital, and supporting key productive sectors, all to support economic recovery and improve living standards.

This latest operation is expected to push the CAR Treasury beyond its annual fundraising target. At the start of the year, the government planned to raise 95 billion XAF on the regional market in 2025. By the end of July, cumulative issuance had already exceeded 81 billion XAF, placing the Treasury within reach of surpassing its objectives well before year-end.

Sandrine Gaingne