Togo raises CFA27.5bn in debt auction oversubscribed by 373%

Public finance

Friday, 29 May 2026 17:09

Togo raises CFA27.5bn in debt auction oversubscribed by 373%

(Togo First) - Togo raised 27.5 billion CFA francs on the regional West African Economic and Monetary Union (WAEMU) debt market on Friday, exceeding its initial target of 25 billion CFA francs.

The funds were raised through a simultaneous issuance of Treasury bills (BAT) and Treasury bonds (OAT), coordinated by UMOA-Titres.

According to official results reviewed by Togo First, the auction attracted bids totaling 93.4 billion CFA francs, representing a subscription rate of 373.72%. The Treasury accepted 27.5 billion CFA francs of bids, all through OATs.

Of the total, 11.72 billion CFA francs came from three-year bonds carrying a fixed interest rate of 6.15%, while five-year OATs accounted for the remaining 15.78 billion CFA francs at an annual rate of 6.35%.

Following the latest auction, Togo has raised 143 billion CFA francs on the regional market since the start of 2026, equivalent to about 31% of its annual borrowing target of 463.5 billion CFA francs. The funds are intended to support the country's 2.751 trillion CFA franc budget.

Esaïe Edoh

REFORMS OVERVIEW

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ENFORCING CONTRACTS (more info)

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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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