DRC Raises $65.57 Million in Treasury Bond Auction to Support National Projects
The Government of the Democratic Republic of Congo (DRC) raised $65.57 million through a local Treasury Bond auction held on November 19, 2024, as announced by Minister of Finance, Doudou Fwamba.
The auction, which attracted six bidders, including banks and credit companies, saw a coverage rate of 65.57%, falling short of the initial $100 million target.
Despite not reaching the full target, the Minister emphasized that the funds raised are critical to supporting national projects and maintaining the country’s economic stability.
The bonds issued carry an interest rate of 9% with a maturity period of 18 months, offering a relatively attractive investment option in a challenging economic environment.
This auction is part of the DRC’s broader strategy to mobilize financial resources to meet increasing budgetary needs. Authorities hope that this success will encourage further similar initiatives in the future, with the government aiming to raise approximately $340 million in 2024 through Treasury Bonds.
Minister Fwamba also thanked commercial banks for their active participation, recognizing the importance of such operations in financing public expenditure and managing debt.
The positive outcomes of previous bond auctions have helped to boost investor confidence in Congolese Treasury Bonds, further supported by ongoing reforms to enhance financial inclusion and develop the local financial market.
The government remains committed to using the funds raised for strategic projects and is working to encourage greater participation from banks in future financial initiatives.
