Togo has successfully raised CFA33 billion on the West African Economic and Monetary Union (UEMOA) regional financial market through a treasury bill issue that drew exceptionally strong investor demand.
The 91-day treasury bills, issued on Sunday by the Togolese government via UMOA-Titres, attracted a coverage rate of 200.32%. Total bids reached CFA 60.096 billion, against an initial offer of CFA30 billion, underscoring a strong appetite for Togo’s short-term debt.
Twelve financial institutions submitted 18 bids, with Togo securing the largest allocation — CFA 21.992 billion out of CFA27.023 billion offered by domestic investors. Benin followed with CFA 5.727 billion, ahead of Mali (CFA2.281 billion), Burkina Faso (CFA 2 billion) and Senegal (CFA1 billion). No bids were retained from Cote d’Ivoire, Niger or Guinea-Bissau.
The weighted average yield stood at 5.68 percent, with a marginal rate of 5.79 percent. The absorption rate was 54.91 percent, reflecting a selective allocation process by the Togolese authorities.
Each bill carries a nominal value of CFA1 million and matures on November 10, 2025, with a value date set for August 12, 2025. The issue forms part of the government’s strategy to finance short-term budgetary needs and reinforces regional investor confidence in Togo’s sovereign debt instruments.
ARD/sf/ac/lb/as/APA