In the first quarter, Togo successfully raised 121.5 billion CFA francs from the government securities market of the West African Monetary Union. The country now aims to secure an additional 75 billion CFA francs over the next three months. As per the provisional timetable released by the UMOA-Titres agency, Togo plans to raise 35 billion CFA francs in April, 25 billion CFA francs in May, and 15 billion CFA francs in June.
Specifically, the government intends to raise 60 billion CFA francs through Treasury Bonds (BAT) and 15 billion CFA francs via Treasury Bonds (OAT), with a total of six BAT issues and two OAT issues scheduled.
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On a regional scale, Togo’s planned fundraising efforts account for about 3% of the 2,600 billion CFA francs that the eight member countries of the Union aim to raise this quarter. Côte d’Ivoire is notably leading the market, targeting 1,185 billion CFA francs, which represents 45% of the total anticipated volume.
These initiatives by Togo are part of a broader strategy to leverage financial markets to address the financing requirements of its national budget, which is projected to reach 332 billion CFA francs for this year.
