Benin kicks off 2026 by raising 60 billion FCFA on the regional market
Benin opened 2026 with an auction of 60 billion CFA francs on the regional debt market, on January 7, marking a new step in its financing strategy.
According to information reported by Ecofin Agency, the subscription exceeded the proposed amount, confirming investors’ appetite for Benin’s public securities.
This operation is part of a broader dynamic of transforming the WAEMU financial market. The volumes traded today clearly exceed the standards of a few years ago, where issuances generally hovered around 20 billion CFA francs. The market now operates at higher amounts, driven by increased liquidity and more active participation by institutional investors.
On the short maturities, demand appears relatively homogeneous, reflecting broad confidence in governments’ ability to meet their short-term obligations. By contrast, for medium and long maturities, rates vary more, depending on each country’s financing needs and investors’ perception of sovereign risk.
The success of this auction confirms Benin’s position as a credible issuer on the regional market and illustrates the structural evolution of public debt in the WAEMU region. It also reflects a broader reality: the financing of West African states is increasingly carried out through a regional market that has become deep, liquid, and selective.
Comments