WAEMU public securities market: Senegal targets 487 billion FCFA in the third quarter of 2026

On the public securities market in the UEMOA zone, Senegal aims to mobilize 487 billion FCFA. This operation confirms the quality of the State’s signature as well as its capacity to mobilize, despite a tense context.

For the third quarter of 2026, Senegal intends to ride its wave of performances characterized by the success of its latest releases on the public securities market. Thus, for the July-September period, 487 billion FCfa should enter the coffers of the Public Treasury. The first operation of the quarter was organized on July 17, 2026. For this purpose, 100 billion FCFA were put up for auction.

Subsequently, the Public Treasury mobilized 90.249 billion FCfa, despite overall offers amounting to 120.794 billion FCfa. The instruments used were assimilable Treasury Bonds (Bat) of 91 and 364 days and assimilable Treasury Bonds (Oat) of 3 and 5 years.

On August 1, 2026, 71.5 billion FCFA were mobilized. The issue involved three instruments, namely a 364-day equivalent Treasury Bond and two 3- and 5-year equivalent Treasury Bonds. The one-year Bat recorded the highest demand with 34.3 billion FCfa retained and an absorption rate close to 100%, reflecting investors’ preference for short-term investments.

The 3 and 5 year Oats made it possible to raise 23.4 billion and 13.8 billion FCfa respectively. If the three-year bond was widely subscribed, the five-year bond was subject to a more rigorous selection, with an absorption rate of 54.7%.

For the month of August, two operations will be organized on the public securities market. The first issue targets an envelope of 165 billion FCfa thanks to 1 Bat of 45 billion FCfa and 3 Oat with maturities of 3 to 7 years at amounts varying between 30 and 45 billion FCfa. Then, on August 27, 2026, 60 billion FCfa will be put up for auction. The operation will consist of one Bat and two Oats with maturities of 3 and 5 years.

In September, the last month of the quarter, an issue will be carried out to raise 100 billion FCfa. It should be noted that between January and July 2026, Senegal was quite dynamic on the WAEMU public securities market. On this date, 61 operations were carried out according to cumulative data from Umoa-Titres. These are 22 assimilable Treasury Bonds and 39 assimilable Treasury Bonds. Interventions which allowed the Senegalese public treasury to collect, in total, 1,699 billion FCfa.

In detail, 920 billion FCfa were raised in Bat and 778.48 billion FCfa in Oat. During this time, the amount of capital repaid reached 1.091 billion FCfa. The envelope is made up of 479.24 billion FCfa in assimilable Treasury Bonds and 611 billion FCfa in assimilable Treasury Bonds. Regarding the amount of interest reimbursed, it amounts to 181 billion FCfa.

One of the most important operations of these seven months took place on January 16, 2026. For this issue, the Public Treasury mobilized 154 billion FCfa, while 140 billion FCfa was put up for auction. For the year 2026, Senegal is targeting 2,400 billion FCFA on the public securities market after the 2,225 billion FCFA raised in 2025.

Demba DIENG