• WAEMU member states raised CFA4,751.95 billion ($8.14 billion) by April 30, 2025

• Treasury bonds surged 172.86% to CFA2,122.07 billion, signaling long-term strategy.

• Côte d’Ivoire, Senegal, and Burkina Faso accounted for over 70% of total market share.

Member states of the West African Economic and Monetary Union (WAEMU) raised a total of CFA4,751.95 billion ($8.14 billion) on the regional securities market by April 30, 2025, nearly doubling the amount mobilized over the same period in 2024. This 96% increase, reported by UMOA-titres, highlights intensifying use of capital markets to finance public spending across the region.

A substantial share of this growth was driven by medium- and long-term Fungible Treasury Bonds (OAT), which surged 172.86% to CFA2,122.07 billion. Though Fungible Treasury Bills (BAT) remain more prevalent in volume, the rising preference for bonds reflects a shift toward long-term financial planning by member governments.

Reimbursements on the market also rose significantly. By the end of April, WAEMU countries had repaid a total of CFA2,493.07 billion, up 225.76% from the same period in 2024. This figure reflects a more active approach to debt management within the Union.

Outstanding public debt across the WAEMU market stood at CFA19,343.7 billion as of April 30, 2025, marking a 4.94% year-on-year increase. Côte d’Ivoire remains the leading issuer, with CFA5,992.97 billion in total debt, including CFA4,761.46 billion in bonds and CFA1,231.51 billion in treasury bills.

Senegal follows with CFA3,374.42 billion in outstanding debt, while Burkina Faso reports CFA2,433.81 billion. Together, these three countries account for more than 70% of total debt on the WAEMU securities market, underlining their regional financial influence.

The remaining WAEMU countries show more moderate debt levels: Mali holds CFA2,339.17 billion, Togo CFA2,017.96 billion, Niger CFA1,605.30 billion, Benin CFA1,124.77 billion, and Guinea-Bissau CFA455.37 billion.