Burkina Faso is planning to mobilize 10 billion FCFA in the public securities market of the West African Economic and Monetary Union (WAEMU).
The operation should be launched this Wednesday, November 6, says UMOA-Securities in an information note.
WAEMU is an organization whose mission is to bring about the economic integration of the member states by enhancing the competitiveness of their economies in the framework of an open and competitive market, and a streamlined and harmonized legal environment.
Securities issued will be convertible on the first business day following the Maturity Date, November 4, 2020. Interest is payable in advance.
As a reminder, during the first half of 2019, Burkina Faso had already managed to raise about 151 billion FCFA from investors in the regional financial market.
This performance makes Burkina Faso, the second country with the largest issues of securities, with 17% of total securities issued in the union during the period under review, behind Côte d’Ivoire.
The economy of Burkina Faso is based primarily on substance farming and livestock raising. Real GDP growth is projected to be 6.0% in 2019 and 5.9% in 2020, driven mainly by cotton ginning, cash crop farming, and financial services.