The Nigerien government has secured 10 billion CFA francs through the regional financial market, despite a steep financing cost, with 364-day Treasury bills yielding 11.12%.
The one-year bond issue, maturing on August 27, 2026, was oversubscribed at 120.79%, attracting bids worth 12.079 billion CFA francs.
Burkina Faso emerged as the main participant, subscribing to over 99% of the issue with 9.931 billion CFA francs, while Senegal and Togo made smaller contributions of 52 million and 17 million CFA francs respectively.
The elevated yield—nearly eight percentage points above the 3.25% benchmark rate of the Central Bank of West African States (BCEAO)—underscores the high risk premium demanded by investors amid Niger’s ongoing political instability since the July 2023 coup, coupled with regional insecurity and geopolitical tensions.
Managed by UMOA-Titres, the issuance is part of the financing strategy of UEMOA member states to mobilize resources through the regional public securities market.
