The Togolese Treasury has raised 38.41 billion XOF in the regional financial market, as announced by the Togolese presidency in a statement released on Friday.
Togo has made an impressive entry onto the regional financial stage by successfully conducting a public securities issuance on August 11th. The simultaneous issuance of Treasury Bills and Assimilable Treasury Bonds (T-Bills and T-Bonds) with a nominal value of 35 billion XOF attracted investor attention, resulting in significant oversubscription of over 48 billion XOF. However, the West African nation wisely chose to retain 38.4 billion XOF to finance its key projects.
According to the official report of the operation published by Umoa-titres, West African investors showed particular enthusiasm by actively participating in the issuance of Treasury Bills (T-Bills) with a maturity of 364 days. This segment attracted considerable investments, allowing Togo to raise a significant amount of 24 billion XOF. Financial experts have praised this strategic decision, which bolstered investor confidence in the country’s economic and political stability.
In parallel, Togo also issued Assimilable Treasury Bonds (T-Bonds) with maturities of 3 and 5 years, offering attractive interest rates of 6% and 6.25% respectively. This offering appealed to investors seeking stable and competitive returns in the current economic climate. The issuance of T-Bonds successfully mobilized an additional 14 billion XOF to finance longer-term development projects.
The Togolese Minister of Finance expressed satisfaction with the positive response from investors to this issuance, highlighting that it reflects the growing market confidence in the country’s economic direction. The funds raised will be allocated to strategic initiatives that contribute to stimulating economic growth and strengthening national infrastructure.
