Burkina Faso is strengthening its public financing strategy through successful operations on the WAMU regional market. In 2025, the country had already raised more than 161 billion FCFA (278 million USD) through several government bond issues. This demonstrates investor confidence in its economy despite a complex security and economic environment.
Various operations to strengthen the economy
February 2025: A fundraising of 38.5 billion FCFA is completed as part of a joint operation with Côte d’Ivoire and Senegal.
October 2024: A 120 billion FCFA WAEMU-Securities operation (involving three countries) includes an unspecified portion for Burkina Faso, contributing to the overall target.
March 2025: Burkina Faso raises 35 billion FCFA through 5-year bonds, with demand exceeding the initial supply, confirming the attractiveness of Burkinabe securities.
April 2025: A simultaneous issuance of Treasury Bills (BAT) and Assimilable Bonds (OAT) raises 40.35 billion FCFA, representing a coverage rate of 110.78%. Domestic investors contributed 27.5 billion FCFA, representing 62% of the total amount.
Budgetary Context and Challenges
The 2025 draft budget forecasts 3,149.8 billion FCFA in revenue compared to 3,612.3 billion FCFA in expenditure, generating a deficit of 462.5 billion FCFA (3.2% of GDP). Fundraising on the financial markets supplements the 1,574 billion FCFA expected through taxation, while public debt already stood at 7,161 billion FCFA at the end of 2023.
Resilience and perspectives
These successes reflect Burkina Faso’s financial credibility, driven by tax reforms and increased patriotic mobilization (the Patriotic Support Fund increased by 220% in 2024). Regional investors, particularly Burkinabe investors, play a key role, as evidenced by the dominant share of local subscriptions in the April issue.
Future Challenges
The country must reconcile financing security priorities (230.2 billion CFA francs allocated in 2025 to the fight against terrorism) with controlling its debt, while maintaining the support of taxpayers and investors for its economic resilience model.
