UMOA-securities: After recording an astounding success with its Covid-19 bonds, Togo prepares its last issuance for Q2 2020

Finance
Tuesday, 19 May 2020 17:32
UMOA-securities: After recording an astounding success with its Covid-19 bonds, Togo prepares its last issuance for Q2 2020

(Togo First) - Togo is preparing its last issuance on the regional stock market for Q2 2020. According to UMOA-securities, the regional agency that organizes the issue of public securities, Lomé will proceed to the operation on June 12. 

For the coming operation, Togo’s public treasury will try to raise XOF20 billion by issuing fungible Treasury bonds that will mature over 12 months. 

On May 14, the country successfully retained XOF108 billion out of XOF224 mobilized by investors. For this quarter, Lomé aims at raising XOF183 billion, after securing XOF165 billion in the previous quarter. Cumulating its performances so far, the country is well set to achieve its target for the year, knowingly XOF420 billion. 

It is not only Togo but the whole WAEMU region that has recorded good results on the regional financial market since the year began. In the first quarter, all WAEMU States raised a total of XOF1,331 billion (about $2.2 billion) on this market. This is 8.21% more compared to their initial target. During the current quarter, they seek XOF2,819 billion. 

The positive performances of WAEMU States on the regional financial market reflect investors’ trust despite the persistent Covid-19 pandemic slowing both regional and global economies. 

Fiacre E. Kakpo

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