487 billion FCFA is the amount Senegal plans to mobilize on the UEMOA public securities market between July and September 2026. During the first operation on July 17, Senegal put 100 billion FCFA up for auction. The Public Treasury ultimately retained 90.249 billion, out of total bids of 120.794 billion. The issue combined Treasury Assimilable Bills (BAT) with 91 and 364 day maturities, and Treasury Assimilable Bonds (OAT) with 3 and 5 year maturities. Less than 15 days later, the authorities went back to the market.
Indeed, on August 1, 71.5 billion FCFA was raised through a 364 day BAT and two OATs with 3 and 5 year maturities. The 1 year bill attracted most of the demand, with 34.3 billion FCFA retained and an absorption rate close to 100%. This operation also highlights investors differing appetite depending on maturity. The 3-year OATs raised 23.4 billion FCFA, compared to 13.8 billion for the 5-year ones. On this last maturity, the absorption rate stood at 54.7%, reflecting more cautious selection of bids.
Senegal does not intend to stop there. On the contrary, the amounts are set to increase. A first issue of 165 billion FCFA is planned, with a 45 billion BAT and three OATS with maturities between 3 and 7 years. A second operation, scheduled for August 27, will target 60 billion FCFA through one BAT and two OATS with 3- and 5-year maturities.
A final issue planned for September aims to raise 100 billion FCFA.
Note that Senegal has already mobilized nearly 1,699 billion FCFA out of the 2,400 billion FCFA planned for this year, including 920 billion through bills and 778.48 billion through bonds. This result was achieved after 61 operations; 22 BAT issues and 39 OAT issues. The State also repaid 1,091 billion FCFA in principal, plus 181 billion FCFA in interest.
In 2025, Senegal had raised 2,225 billion FCFA. One of the largest operations this year was on January 16, when the Treasury raised 154 billion FCFA, while it had initially sought 140 billion.
