Burkina Faso raises more than expected

Burkina Faso's public savings call on the UMOA financial market raised 143 billion CFA francs, surpassing the initial target of 100 billion CFA francs. The results were announced by the Ministry of Economy and Finance on November 2.

Loan structured in three parts

The loan was divided into three tranches with different maturities and interest rates. The first tranche was 40 billion CFA francs over five years, with a 6.60 percent annual rate and a two-year repayment deferral.

Second tranche details

The second tranche targeted 30 billion CFA francs over seven years, with an annual rate of 6.75 percent. This portion of the loan was intended to provide longer-term funding for the country's economic development.

Third tranche and interest costs

The third tranche was for 30 billion CFA francs over ten years, with a rate of 7 percent. Based on the planned amounts and rates, the interest to be paid to investors over the duration of the three loans could exceed 33 billion CFA francs.

Consortium of local companies

The structuring and placement of the loan were handled by a consortium of four management and intermediary companies based in Burkina Faso. These companies were chosen by the Ministry of Economy and Finance to manage the operation on the regional financial market.