The Ivory Coast marked a splash from the start of 2025 on the regional market for public securities of the West African Monetary Union (WAMU). During its first issue of the year, on Tuesday January 7, 2025, the country aroused keen interest among investors who largely responded to the call. While the government aimed to raise 60 billion CFA francs, the offers far exceeded this objective, reaching 116.54 billion CFA francs, or a coverage rate of 194.23%.
Faced with this enthusiasm, the The Ivorian public treasury retained an absorption rate of 56.63% by deciding to mobilize 66 billion CFA francs. A success which demonstrates the confidence of investors in the Ivory Coast. This fundraising was carried out solely through the issuance of equivalent Treasury bonds (BAT) of short duration, namely 113, 119, and 364 days. The BAT of 113 and 119 days respectively made it possible to lift 27 billion and 29.96 billion CFA francs. As for the BAT with a maturity of 364 days, it generated 9.04 billion CFA francs. Ivorian investors were the most active, representing 81.77% of the total amount raised. A high level of local participation which reflects strong mobilization of Ivorian financial players and a reinforced climate of confidence in the country’s economic prospects.
The interest rates offered were between 6.5% and 6.75% for the shortest maturities, and reached 7.24% for the 364-day BAT. The success of this issue allows the country to finance its cash flow needs and support its economic growth. These figures demonstrate judicious management of short-term financial instruments and an ability to adapt issuance conditions to meet investor demand, while maximizing returns for the State. With this performance, the Ivory Coast positions itself as a key player in the public securities market of WAMUillustrating its ability to mobilize substantial resources to support its development projects while respecting the imperatives of financial stability.
