Public Management

WAEMU countries raise CFA1,173 bln in Covid-19 bonds issue

WAEMU countries raise CFA1,173 bln in Covid-19 bonds issue
Tuesday, 19 May 2020 12:53

WAEMU countries successfully raised a total of CFA1,172.63 billion through the issue of covid-19 social bonds on the regional public securities market between April 27 and May 14 (18 days).

The Bonds were issued in the form of treasury bills (BATs) with a 3-month maturity and an average rate of 3%. The resources enabled States to finance their urgent response plans against the pandemic, pending funds from financial technical partners.

Côte d’Ivoire comes first, raising CFA535 billion (about $890 million) in three operations, followed by Benin (CFA133 billion, or about $221 million), Niger (CFA110 bln, or $183 mln), Togo (CFA108 bln, or about $180 mln) and Senegal (CFA103.13 bln, or about $171.5 mln).
Mali, Burkina Faso, and E. Guinea respectively raised CFA88 bln (about $146.5 million), CFA80 billion (about $133 million), and CFA15.5 billion (about $25.8 million).

According to data collected from 10 covid-19 bonds issues on the market, the average coverage rate for all operations was 382%, reflecting the strong interest from investors. Although the maturity periods are rather short, the success of these operations could pave the way for the introduction of innovative ad hoc financial solutions on the market.

Borgia Kobri

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
NSIA Banque CI securitized bonds begin trading on BRVM First multi-currency deal in UEMOA, fully subscribed Proceeds to boost SME lending,...
Ecobank Côte d’Ivoire reports revenue and profit growth in 2025 Deposits, loans rise; shareholders approve dividend payout Bank targets...
More than CFA1,000 billion received via mobile money in 2024 Total inflows rise 77% to CFA1,354 billion, led by Europe and North...
New SME Growth Fund aims to improve access to long-term capital Initial $30 million could scale up to $100 million over time SMEs remain...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
05

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.