Senegal’s Directorate General of Public Accounting and Treasury has successfully raised 77 billion CFA francs (over $135 million) on the West African Monetary Union (UMOA) regional financial market, exceeding its initial target of 70 billion CFA francs (over $123 million) after receiving total bids of 110.08 billion CFA francs (over $194 million).
The auction, which closed with a coverage ratio of 157.26%, confirms Senegal’s continued strong access to the regional public securities market as the government taps UMOA-Titres to meet budgetary needs and manage its debt profile.
Investor demand was strongest for the 364-day Treasury bills. Bids totalled 56.48 billion CFA francs, of which 54.40 billion CFA francs were accepted, representing an absorption rate of 96.32% and a weighted average yield of 8.04%.
On the bond segment, the five-year line carrying a 6.45% coupon attracted near-total acceptance. Of the 21.69 billion CFA francs subscribed, the Treasury retained 21.68 billion CFA francs — an absorption rate of 99.96% — at a weighted average yield of around 8.20%.
By contrast, the three-year bond tranche, remunerated at 6.30%, saw strong selectivity. The Treasury retained only 920 million CFA francs out of 31.91 billion CFA francs offered, equivalent to an absorption rate of 2.88% and a weighted average yield of 7.73%.
The auction drew 24 participants from across the region who submitted 114 bids in total. Ivorian investors accounted for the largest share of the retained amount at 24.45 billion CFA francs (31.75%), followed by investors based in Senegal with 21.03 billion CFA francs (27.32%). The remainder was allocated among investors from Mali, Togo, Benin and Burkina Faso.
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The results underline the depth of the primary public-securities market within UMOA and the continued appeal of Senegal’s sovereign signature among regional institutional investors.
A previous auction on 22 May 2026 had already enabled the Senegalese state to raise 55 billion CFA francs against a 50 billion CFA francs target, with a coverage ratio of 154.16%. Earlier in the year, a 5 June 2026 auction generated 92.505 billion CFA francs from regional investors.
The securities issued in the latest operation will settle on Monday, 17 August 2026. Treasury bills have a unit face value of 1,000,000 CFA francs, while Treasury bonds are issued at 10,000 CFA francs, in line with union market standards.
