UMOA-Securities: Togo still has the trust of regional investors

Finance
Monday, 12 August 2019 13:21
UMOA-Securities: Togo still has the trust of regional investors

(Togo First) - On August 9, 2019, Togo closed its third issuance, for the third quarter on the UMOA-Securities market. Subscriptions for the operation attained XOF29.5 billion, thus representing a coverage rate of 147%.

However, over the amount raised, the country captured XOF22 billion. “This operation aligns with the public securities issuance program of Togo, in line with its mid and long term debt management strategy,” said the regional debt planning agency.

The successful transaction, one of the many the country has been recording on this market since the year started, just reflects a regained trust in the Togolese economy from regional investors. However, the trend spread across the whole region where Benin, Burkina Faso, Senegal and Côte d’Ivoire also performed well on the UMOA securities market.

For the third quarter of the year, just like the previous, Togo has a target of XOF115 billion on this market. Last quarter, the country mobilized XOF319 billion and retained XOF121 billion, thus exceeding its expectations.

Séna Akoda

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