Africa
The launch of Mali’s 2020 public securities issuance schedule
A meeting for the issue of public securities chaired by the Prime Minister, Minister of Economy and Finance, Head of Government Dr. Boubou CISSE was held on February 27th, 2020, at the Sheraton Hotel in Bamako, Mali. The growth target will be achieved through the development of Mali’s industrialization. The issue will be made every Wednesday on the amount of between $34 million and $51 million.
A meeting chaired by the Prime Minister, Minister of Economy and Finance, Dr. Boubou Cissé, was held last Thursday, February 27th, in Bamako, Mali. The purpose of it was the launch of the calendar for the issue of public securities for 2020 of the State of Mali. The ceremony took place in the presence of members of government, the Director of the UMOA-TITLES Agency, Adrien DIOUF and the National Director of the Treasury and Public Accounting (DNTCP), Sidi Almoctar OUMAR.
Also present were Mr. Bréhima Haïdara, President of the Professional Association of Banks and Financial Institutions, Mr. Konzo Traoré National Director of BCEAO for Mali, Mr. Oumar Ndoye Chairman of the Insurance Companies Committee, managers of banks and credit institutions, the representative of SGI-Mali, the IMF Resident Representative in Mali and the Director of the French Agency for Development (AFD).
According to Dr. Boubou Cissé, the growth target of 6.5% provided for in the Strategic Framework for Economic Recovery and Sustainable Development (CREDD 2019-2023) will be achieved through the development of Mali’s industrialization. Speaking to the public, the National Director of the Treasury and Public Accounting, Sidi El Moctar Bah said that “an issue will be made every fortnight on Wednesdays with a nominal amount of between $34 million and $51 million (FCFA 20 and FCFA 30 billion),” he explained to the public.
Born2Invest brings you the latest financial news from around the world and across the spectrum of the trusted global network. Keep up to date with the latest stories, and content on a whole range of topics, from an African perspective, business to finance, industries, biotech and much more.
Between $34 million and $51 million will be made every 15 days
A fund that will be mobilized through 22 issues of public securities, including 6 in Treasury bills (BATs) for an amount of about $204 million (FCFA 122 billion) and 16 issues in Treasury bonds (OATs) for an amount of about $745 million (FCFA 445 billion). An issue with a nominal amount of between $34 million and $51 million (FCFA 20 and FCFA 30 billion) will be made every 15 days.
Regarding the attractiveness of Mali’s public securities to investors, the Prime Minister and Minister of Economy and Finance, Dr. Boubou Cissé said that “the strategic framework for economic recovery and sustainable development (CREDD 2019-2023) provides for an average economic growth of 6.5% over the period from 2019 to 2023,” he said.
According to him, “This growth would be dominated mainly by the branches of industry, particularly electricity-water, food processing, and construction. This performance will be linked to the implementation of reforms in the cotton sector, planned investments in infrastructure, electrification, and other sectors.”
A bond issue of about $167.5 million
In 2019, a total amount of about $910 million (FCFA 544 billion) has been mobilized on the WAEMU regional financial market by Mali, out of an initial forecast of about $870 million (FCFA 520 billion). In addition to this, a bond issued by a public offering of about $167.5 million (FCFA 100 billion) was also made.
To strengthen the credibility of fiscal policy and investor confidence in the national economy, Mali has been rated regionally and internationally by Bloomfield Investment and Moody’s Corporation, respectively. At the end of the first ratings, published in early 2019, Mali was rated BBB long-term and A3 short-term with a stable outlook by Bloomfield Investment. The rating with Moody’s was B3 in local and foreign currency with a stable outlook.
__
(Featured image by Cytonn Photography via Unsplash)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Financial Afrik, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
-
Biotech1 week ago
Vytrus Biotech Reports Its Best Quarter: Record Revenue and Rising EBITDA
-
Cannabis4 hours ago
Legal Sale of Cannabis in Germany: Pilot Projects in Frankfurt and Hanover
-
Cannabis2 weeks ago
Ireland: Legislative Committee Calls for Legalization of Cannabis and Decriminalization of Drugs
-
Biotech6 days ago
Dijon Biotech Company Inventiva Raises 348 Million to Complete Its Phase III