Senegal raised 154 billion CFA francs in a regional debt auction, as investors chased higher yields across West Africa’s shifting financial landscape.
The sale reflected a government under strain, leaning on regional markets while rising debt clouds Dakar’s economic horizon.
Treasury data showed 71.46 billion CFA francs raised through 12-month bills, with yields climbing as short-term borrowing costs increased.
The weighted average yield reached 6.96%, signalling investors now demand a steeper premium to lend to the cash-hungry state.
Interest in longer bonds was softer, though a 36-month issue drew enough bids to clear near target at 7.28%.
A five-year bond produced the highest yield at 7.69%, underscoring caution as maturities lengthened and risks deepened.
Senegal has turned inward for financing since the IMF froze a $1.8 billion programme after hidden debts pushed liabilities to 132% of GDP.
