This September 18, 2020 should be engraved in gold letters in the annals of the Regional Financial Market of the West African Economic and Monetary Union (UEMOA). Indeed, this date marks the admission, for the first time, of a Common Fund for the Securitization of Debt, the “FCTC NSIA BANQUE 7% 2020 — 2025”, with an outstanding amount of

With this operation, the pan-African group NSIA confirms its desire to become a major player in the financial market by raising capital through cutting-edge and efficient products, as Eliane ALANGBA, Deputy Director General of NSIA Finance, declares. Partner of the operation, Olivier GUI, CEO of Africa Link Capital (ALC) Securitization, the first independent private company managing the Union's Common Credit Securitization Fund (FCTC)
West African Economic and Monetary Affairs (UEMOA), explains all the advantages of investors and bondholders in this listing, which makes the securities in question more liquid and easy to acquire or sell. (See video).

The listing of the FCTC NSIA Bank 7% 2020-2025 comes after the successful issuance of 4,000,000 bonds, which took place from February 7 to March 6, 2020 under the leadership of NSIA Finance, SGI, leader of the investment syndicate. These bonds, with a nominal value of 10,000 CFA francs, with a maturity of 60 months and an annual rate of return of 7%, were oversubscribed by 41.3 billion CFA francs for the expected 40 billion CFA francs

The mortgage and securitization market was born from the idea of improving housing financing in UEMOA by refinancing mortgage loans using the securitization technique. It was in Bissau, on 30 March 2010, that the UEMOA Council of Ministers

• Regulation No. 02/2010/CM/UEMOA concerning FTCT and securitization operations in UEMOA, and;

• Regulation No. 03/2010/CM/UEMOA concerning covered bonds in UEMOA, thus concerning the baptismal fonts of this market.

The CRRH gave life to the market by issuing its first bonds in 2012, called “CRRH-UEMOA 6.10% 2012-2022”, for an amount of 12.5 billion FCFA. As for FCTCs, they were issued on the market for the first time in 2016, recalls Dr. Edoh Kossi Amenounvé, Director General of the BRVM. Since then, the financial market has registered 5 FCTCs, all non-mortgage, for an amount of 181.19 billion FCFA. What is now left is the issuance of covered bonds, says Dr Amenounvé, showing the way forward