Ivory Coast has successfully raised nearly 297 billion FCFA through a public securities auction held on Tuesday, July 8, 2025. Organised by Umoa-Titres, the operation attracted strong interest from investors across the West African Monetary Union (UMOA), exceeding initial expectations and reinforcing market confidence in the country’s fiscal strategy.
Initially targeting 270 billion FCFA, the auction drew offers totaling 338.31 billion FCFA, representing a coverage rate of 125.30%. The Ivorian treasury accepted 296.99 billion FCFA, resulting in an absorption rate of 87.79%, underlining high investor demand.
The issuance included six financial instruments: a 364-day Treasury bill (BAT) maturing in July 2026 for 14.56 billion FCFA; four 3-year Treasury bonds (OATs) totalling 272.28 billion FCFA; a 5-year bond maturing in July 2030 for 5.6 billion FCFA; and a 7-year bond due in July 2032 valued at 4.56 billion FCFA.
Offered interest rates ranged between 5.70% and 6.00%, while weighted average yields were higher, falling between 6.64% and 7.61%, reflecting both investor appetite and prevailing market conditions.
Ivory Coast itself was the leading subscriber, investing 279.84 billion FCFA. Senegal followed with 9.51 billion FCFA, and Togo contributed 7.65 billion FCFA.
The broad participation—29 investors submitting 33 bids—signals robust confidence in Ivorian debt instruments within the regional financial market.
The proceeds from the auction, which will be disbursed from July 9, are earmarked to support Ivory Coast’s state budget, aligning with broader fiscal objectives.
The strong turnout and oversubscription underscore Abidjan’s strategic position in the UMOA capital market and its ongoing efforts to bolster economic resilience through diversified financing.
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