Senegal wants to issue 50 billion FCFA of Support and Resilience Bonds on the financial market of the West African Economic Monetary Union (UEMOA). The issuance operation will take place this Friday, October 22, 2021.

Senegal will launch Treasury support and resilience bonds on the financial market by auction, for an amount of 50 billion CFA francs and with a maturity of 364 days. The nominal unit value of a treasury bond is 1,000,000 FCFA and bids are made at multiple rates at 3.50%. The repayment of the capital will take place on the first working day following the due date set for Sunday, October 23, 2022. Income received on Bonds Assimilables du Trésor is exempt from tax for investors residing in Senegal. Non-residents are subject to the taxation applicable in the territory of the country of residence. As a reminder, the Senegalese economy is mainly based on the tertiary sector which contributes 50.4% to the formation of GDP. The secondary and primary sectors represent 25.8% and 16.62% of GDP, employing 14% and 32% of the workforce respectively.

According to the press release from the UMOA-Titres agency, the present issue of Bonds Assimilable du Trésor called "BONS DE SOUTIEN ET DE RESILIENCE" aims to enable the issuer to mobilize the savings of natural and legal persons in order to cover the necessary cash needs: to support the economic recovery efforts of States, so that they return to the growth trajectory before the Covid-19 health crisis and to Resilience in the changes in budgetary orientation taken by the States, in the face of the adverse and unusual shocks that their economies are facing.