The government of Benin successfully raised 33 billion CFA francs through a 91-day Treasury bond auction held on August 7, 2025, reinforcing its strategy for short-term resource mobilisation on the West African Economic and Monetary Union (WAEMU) regional financial market.
Originally offering 30 billion CFA francs, the auction attracted bids worth nearly 65 billion CFA francs, reflecting a strong investor appetite and resulting in an oversubscription rate of 216.56%.
The final accepted amount exceeded the initial target, with a coverage rate of 110% on successful bids and an absorption rate of 50.8%.
The Treasury bonds, which mature on November 6, 2025, were allocated at a weighted average yield of 5.20%, with a marginal rate set at 5.24%. The auction saw participation from 14 investors submitting a total of 20 bids, predominantly from European Union countries.
Benin emerged as the largest subscriber, submitting offers totaling 30.71 billion CFA francs, of which 18.424 billion CFA francs were accepted. Togo followed closely, with accepted bids amounting to 9.526 billion CFA francs from 15 billion offered. Senegal also secured 2 billion CFA francs from 10 billion bids, while Mali and Niger each successfully raised 1.525 billion CFA francs.
Despite bids from Burkina Faso, Ivory Coast, and Guinea-Bissau, no successful allocations were recorded for these countries during the auction.
This latest operation underscores Benin’s continued engagement with regional financial markets to meet its fiscal needs and manage public debt. The success of this auction reflects investor confidence in Benin’s economic prospects amid broader efforts to strengthen financial integration within WAEMU.
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