16-07-2025
Senegal raises R11bn in oversubscribed domestic bond offering
Senegal has raised 364-billion CFA francs (R11.53bn) in its second public bond offering of 2025, exceeding its initial target of 300-billion CFA francs (R9.50bn), the West African nation's finance ministry said in a statement on Tuesday.
The issuance, which ran from June 19 to July 8, was arranged by CGF Bourse with Societe Generale Senegal as co-lead. It forms part of the government's broader strategy to diversify budget financing sources, deepen the domestic capital market, and manage public debt.
Senegal has seen mounting concerns about its debt levels. Its international bonds have lost roughly a quarter of their value since revealing in September it had what analysts estimated as up to $14bn (R250.91bn) of previously undisclosed debt.
That pushed its debt-to-GDP ratio towards 120%, making it one of the highest in Africa.
Despite the debt concerns, the latest offering was oversubscribed by 21.3%, reflecting strong demand from both domestic and regional investors.
The ministry attributed the success of the issuance to growing investor confidence in Senegal's economic outlook.
