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Bond raising: The Ivorian Treasury notes illegalities

02/11/2021
Categories: Index/Markets

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In a press release published on Thursday, October 28, the National Treasury indicates that the loan called "Fipra-PA 2021" was launched without authorization, in violation of the instruction relating to the public call for savings within the West African Monetary Union (UEMOA). This is a loan for an internal fund relating to poultry production.

The Treasury denounces an “illegal” bond loan. Patrimoine Africa, a structure based in Abidjan, has announced the launch of a bond loan for an internal fund relating to poultry production called "Fipra-PA 2021", with the promise of a significant return on investment. “This loan was launched without authorization, in violation of the instruction relating to the public call for savings within the West African Monetary Union (UEMOA) and the government measure prohibiting illegal financial investments. “, indicates the National Treasury in a press release. The objective of this loan was to reach a value of 100 million FCFA with a nominal value of 10,000 FCFA and an annual interest rate of 50%.

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