Togo plans 185 bln CFA francs in Q2 borrowing on WAEMU market

Public finance

Thursday, 09 April 2026 16:53

Togo plans 185 bln CFA francs in Q2 borrowing on WAEMU market

(Togo First) - Togo's Treasury plans to raise 185 billion CFA francs on the West African Economic and Monetary Union (WAEMU) public securities market in the second quarter of 2026, according to the quarterly issuance calendar published by UMOA-Titres and reviewed by Togo First.

Lomé aims to raise 95 billion CFA francs through Treasury bills (BAT) and 90 billion CFA francs through Treasury bonds (OAT). The total, scheduled for April–June, represents roughly 40% of the country's annual target of 463 billion CFA francs.

Over the same period, the eight WAEMU member states plan to raise a combined 2,907 billion CFA francs. Togo’s share accounts for about 6% of total planned issuance. The country has already launched its programme with an operation on April 3, 2026, raising 33 billion CFA francs. At the regional level, Côte d’Ivoire has the highest target, at 930 billion CFA francs for the quarter.

In the first quarter of 2026, Togo raised 49.5 billion CFA francs through two market operations, exceeding its initial target of 45 billion CFA francs. Of that amount, 44.5 billion CFA francs came from OATs and 5 billion CFA francs from BATs. This represents roughly 10% of the annual funding target.

At the same time, Togo will continue servicing its debt on the regional market. Repayments for the second quarter of 2026 are expected to reach 208 billion CFA francs. In the first quarter, the country had already met repayment obligations of 195 billion CFA francs.

Esaïe Edoh

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