Togo secures 22 billion CFA francs in oversubscribed bond issuance

Togo has successfully completed a highly oversubscribed bond issuance on the West African Monetary Union financial market. On August 7, 2026, the Togolese Treasury raised 22 billion CFA francs through three- and five-year Treasury bonds. The operation saw significant investor interest, with bids exceeding 100 billion CFA francs, representing a coverage rate of 500.01%.

By selecting only 22 billion CFA francs from the total bids, the Togolese Ministry of Finance demonstrated a strategy of controlling debt costs and managing the issuance calendar. This successful tenth market exit is viewed as a vote of confidence from regional markets, bolstered by liquidity in the zone and a recent agreement with the International Monetary Fund in March.

The funds are intended to support the 2026 budget, which is set at 2,751 billion CFA francs. To date, Togo has mobilized approximately 286 billion CFA francs, leaving roughly 177 billion CFA francs to be raised from the regional market by the end of December.