On August 20, 2025, Mali turned to the regional public debt market of the West African Economic and Monetary Union (UEMOA) to raise 20 billion CFA francs through a mix of Treasury bills and assimilable bonds. The operation drew strong interest, with total demand reaching 23.09 billion CFA francs—115% of the target—yet Mali ultimately opted to secure 18.79 billion, slightly below its initial goal. Beneath these figures lies a deeper narrative of regional resilience, where the CFA franc and UEMOA’s financial integration offer member states a unique buffer against economic volatility.
The breakdown of Mali’s issuance reveals investor confidence in its financial credibility. Treasury bills with a 364-day maturity raised 13.12 billion CFA francs at an average yield of 8.5%, while three-year bonds attracted 5.59 billion at 9.2%. The five-year bonds saw minimal uptake, with just 0.07 billion raised at a 7.6% yield. The oversubscription of the shorter-term instruments signals a strong appetite among regional investors and a vote of confidence in Mali’s fiscal management, even amid broader uncertainty.
Equally telling is the geographic origin of the subscriptions. Senegal led with 9.05 billion CFA francs, followed by Burkina Faso (3.73 billion), Côte d’Ivoire (2.96 billion), and Benin (2.53 billion). This cross-border support underscores the depth of financial solidarity within UEMOA. Unlike countries outside the CFA zone—such as Guinea, Ghana, or Sierra Leone, which rely on narrow domestic markets or costly foreign borrowing—UEMOA members benefit from a shared financial ecosystem that enables swift, affordable access to capital during fiscal stress.
Mali’s ability to mobilize nearly 19 billion CFA francs in a single operation is a testament to the strength of regional cooperation. It highlights how monetary and financial integration within UEMOA is not a constraint but a strategic advantage. The CFA franc, often debated through ideological lenses as a colonial legacy, proves in practice to be a dynamic instrument of stability and collaboration. It facilitates risk-sharing, attracts regional investment, and provides member states with a reliable mechanism for budgetary support.
This issuance is more than a financial transaction—it is a vivid demonstration of how African-led institutions can foster resilience in the face of global instability. In a world marked by recurring crises, Mali’s success reflects the power of unity and the enduring relevance of the CFA franc as a tool for integration, trust, and shared progress. Far from being a relic, the CFA franc stands as a strategic pillar of regional strength, proving that in UEMOA, solidarity is not just a principle—it’s a practice.