Côte d’Ivoire successfully raised 52.9 billion CFA francs (92 million USD) on the WAEMU regional government securities market during an auction organized on Monday, June 2, 2025, by UMOA-Titres. This operation initially aimed to raise 50 billion CFA francs, but attracted greater interest, with bids totaling a coverage rate of 119.8%.
Details of the Transaction
The issuance involved four financial instruments:
- 364-day Treasury Bills (maturing June 2026): These securities attracted the most interest, with 39.15 billion CFA francs raised out of 46.15 billion requested, for a weighted average yield of 7.00%.
- 3-Year Treasury Bonds (maturing June 2028): Fully allocated up to 13.25 billion FCFA, these bonds offer a fixed interest rate of 5.90% and a yield of 7.62%.
- 5-Year Treasury Bonds (maturing May 2030): No bids were received for these securities, despite an announced rate of 6.00%.
- 7-Year Treasury Bonds (maturing June 2032): These bonds raised exactly the requested 500 million FCFA, with a yield of 7.49%.
Geographic Distribution of Subscriptions
Participation was predominantly Ivorian, with 54.55 billion FCFA offered and 50.05 billion accepted. Other WAEMU countries contributed more modestly:
- Burkina Faso (2.6 billion FCFA)
- Bénin (2.5 billion FCFA)
- Senegal (250 million FCFA)
Mali, Niger, Guinea-Bissau, and Togo did not participate in this auction.
Financial Context
This fundraising is part of a series of successful operations by Côte d’Ivoire in the regional market. On May 27, 2025, the country raised 82.5 billion FCFA at another auction, exceeding its initial target of 75 billion FCFA. Furthermore, in the first quarter of 2025, Côte d’Ivoire raised 1,506.77 billion FCFA, representing more than half of the funds raised on the WAEMU primary government securities market.
These performances demonstrate the solidity of the Ivorian signature and the confidence of investors in the country’s financial management.
