Togo Raises 27.5 Bln CFA Francs in Second 2026 Debt Sale, Bids Hit 134.5 Bln

Public finance

Monday, 23 March 2026 15:45

Togo Raises 27.5 Bln CFA Francs in Second 2026 Debt Sale, Bids Hit 134.5 Bln

(Togo First) - Togo carried out its second operation on the regional financial market for 2026 on Friday, March 20. The Togolese Treasury raised 27.5 billion CFA francs through a dual issuance of Treasury bonds (OAT) and Treasury bills (BAT), exceeding its initial target of 25 billion CFA francs.

According to results published by Togo First, the Treasury raised 9.5 billion CFA francs in three-year OATs carrying a fixed annual interest rate of 6.15%. A further 13 billion CFA francs was raised through five-year OATs at an annual interest rate of 6.35%. For the Treasury bills, with a 364-day maturity, the Treasury raised 5 billion CFA francs.

Total bids reached 134.5 billion CFA francs, representing a coverage ratio of 538.30%. The operation, Togo's second on the regional financial market this year, brings the country's total fundraising since January to 49.5 billion CFA francs.

For the full year, Togo plans to raise 463.5 billion CFA francs from the market to help finance the state budget, which stands at 2.751 trillion CFA francs.

Esaïe Edoh

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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