# UMOA sovereign bond issuances in West Africa > Live situation record from CLSTR: https://clstr.news/situations/umoa-sovereign-bond-issuances-in-west-africa > Updated: 2026-08-01T18:07:09.000Z. Sources: 3. Developments: 2. In July 2026, Burkina Faso tapped the West African Economic and Monetary Union (UMOA) capital market, issuing a bond that raised 44 billion CFA francs. The financing was aimed at supporting the state budget amid a deepening insurgency that has displaced over two million people and disrupted key sectors such as gold mining and agriculture. A few weeks later, in early August 2026, Senegal followed with a larger sovereign debt offering on the same UMOA market. The Treasury issued a 364‑day bill and 3‑ and 5‑year bonds, attracting 71.5 billion CFA francs—well above its 65 billion target—and achieving a coverage ratio of 127.7 %. Investors from several UMOA member states participated, underscoring robust regional demand for West African sovereign debt despite broader financing challenges. Together, the two issuances illustrate a growing reliance on the UMOA bond market by member states to secure short‑term fiscal breathing space while confronting security, humanitarian, and economic pressures. ## Timeline ### 2026-08-01: Senegal raises 71.5 bn FCFA, exceeding target in UMOA bond market Senegal’s Treasury raised 71.5 bn FCFA via a 364‑day bill and 3‑ and 5‑year bonds, beating its 65 bn target, with 82.98 bn FCFA in bids and investors from six UMOA members. 3 sources. https://clstr.news/cluster/senegal-raises-715-bn-fcfa-exceeding-target-in-umoa-bond-market ### 2026-07-15: Burkina Faso raises 44 bn FCFA in UMOA market amid persistent security and humanitarian crises Burkina Faso raised 44 bn FCFA via the UMOA market to fund its budget as insurgency drives displacement, hampers gold exports and strains health services, though basic public services persist. 2 sources. https://clstr.news/cluster/burkina-faso-raises-44-bn-fcfa-in-umoa-market-amid-persistent-security-and-humanitarian-crises --- Cite as: UMOA sovereign bond issuances in West Africa. CLSTR, https://clstr.news/situations/umoa-sovereign-bond-issuances-in-west-africa