Togo to mobilize CFA25 billion on UMOA-securities market, by Sept. 11

Africa Link Special Reports

(Togo First) - Togo will try to raise 25 billion FCFA on the regional financial market by September 11.

The country, which has been successful since January with investors from the West African Monetary Union (WAMU), will issue to this end fungible treasury bonds with a nominal value of 10,000 FCFA, stipulated for a 36-month maturity.

The securities carry an interest rate of 6.15% per annum, payable from the first year. The bonds will be redeemed on the first working day following the maturity date which is scheduled for August 23, 2023.

The proceeds of the issue will be used to cover the State budget’s financing needs for 2020.

Séna Akoda