Guinea-Bissau recently successfully raised 10 billion CFA Francs (17 million USD) on the regional financial market of the West African Monetary Union (WAEMU) during an auction of Treasury bills and similar bonds held on Monday, May 19, 2025. This operation, organized by WAEMU-Titres, attracted strong investor interest, with bids totaling 37.4 billion CFA Francs, representing a remarkable coverage rate of 374.35%. The absorption rate was 26.72%, meaning that only a portion of the bids were accepted.
Details of the Financial Instruments Issued
The issue was structured around three types of instruments:
- 80-day Treasury bills: 5 billion CFA Francs, weighted average rate of 8.10%.
- 364-day Treasury bills: 3.4 billion FCFA, weighted average rate of 8.94%.
- 3-year comparable Treasury bonds: 1.6 billion FCFA, weighted average price of 90.52%, yield of 10.24%.
Geographic distribution of subscribers
- Senegal was the largest subscriber of the 80-day bills, obtaining the entire allocated 5 billion FCFA.
- Côte d’Ivoire and Togo dominated subscriptions to the 364-day bills.
- For the 3-year bonds, Côte d’Ivoire obtained the majority of the securities (940.8 million FCFA), followed by Benin (517.1 million).
Use of funds and maturities
The funds raised will enable Guinea-Bissau to finance its public investment program and manage its cash flow. Repayments are scheduled for the following dates:
- August 7, 2025 for the 80-day bills
- May 18, 2026 for the 364-day bills
- March 25, 2028 for the 3-year bonds
Context and Perspectives
This transaction is part of a series of successful fundraising operations by Guinea-Bissau on the regional market in recent months. This demonstrates investor confidence in the Guinea-Bissau government and its growing integration into the WAMU financial market. The yields offered remain competitive, attracting strong demand from financial institutions in the sub-region.
Guinea-Bissau’s 10 billion FCFA fundraising confirms the strength of its financing strategy in the regional market, while offering investors attractive short- and medium-term investment opportunities.
