Côte d’Ivoire and Burkina Faso are preparing two Treasury bill and bond auctions with a combined announced offer of CFAF110 billion. According to notices released on 30 October 2026 by the Central Bank of West African States (BCEAO), Côte d’Ivoire will seek CFAF80 billion from the regional public securities market on Tuesday, 3 November, followed by Burkina Faso’s CFAF30 billion operation on Wednesday, 4 November.
The two operations will give the governments access to CFA franc funding from investors in the West African Monetary Union’s public securities market. Both will offer 364-day Treasury bills alongside three-, five- and seven-year Treasury bonds, giving investors a choice of short- and longer-term maturities within each auction.
Côte d’Ivoire’s bills mature on 2 November 2027. Its three bond tranches, due in November 2029, 2031 and 2033, carry fixed annual coupons of 5.20%, 5.45% and 5.70%, respectively. Bids are due on 3 November, with settlement dated 4 November.
Different coupons across the two issuers
Burkina Faso will offer the same range of maturities the following day, but its three-, five- and seven-year bonds carry annual coupons of 6.00%, 6.20% and 6.40%. Its 364-day bills mature on 3 November 2027, while the settlement date for its auction is 5 November 2026.
The coupon differences describe the bonds’ nominal interest terms; investors’ yields will also depend on the prices established through the auctions. Bonds will be sold through multiple-price bidding, while bills use a multiple-rate process. Demand from participating investors will determine the allocation across maturities.
These two auctions will bring a combined CFAF110 billion of announced offerings to the primary market in the first week of November. The auction reports, following the sessions on 3 and 4 November, will detail the bids submitted, the amounts accepted by each Treasury and the resulting pricing conditions.