Togo successfully raised 22 billion CFA francs (approximately €33.5 million or $36.2 million USD) on the West African Monetary Union (WAEMU) regional financial market this Friday, May 23, 2025, through a simultaneous issuance of Treasury Bills (BAT) and Treasury Bonds (OAT). The initial fundraising target was 20 billion CFA francs.
Data released by the Umoa-Titres agency indicates strong investor interest, with 34 investors submitting offers totaling 79.9 billion CFA francs. This resulted in an oversubscription rate of 399.56%, highlighting the continued attractiveness of Togolese government securities within the regional market.
The issuance included 6 billion CFA francs in 182-day Treasury Bills (BAT), issued at multiple interest rates. Concurrently, the Treasury raised 16 billion CFA francs through 3-year Treasury Bonds (OAT) carrying an annual interest rate of 6.25%.
With this latest operation, Togo has raised a total of 209.5 billion CFA francs on the regional market since January 2025. This figure represents just over 60% of its annual fundraising target of 332 billion CFA francs. These funds are likely earmarked for [mention potential uses of the funds, e.g., infrastructure projects, debt management, etc. – if known from other sources].
This successful bond issuance demonstrates Togo’s ability to access regional capital markets and underscores investor confidence in the country’s economic outlook within the WAEMU framework.
