SENELEC, Senegal’s public electricity operator, has launched a securitization program worth XOF 120 billion.
The operation consists in transferring overdue and unpaid bills (notably from public entities, embassies, and large corporations) to a Special Purpose Vehicle – the FCTC SENELEC 2025-2030 – which will in turn issue bonds on the West African regional financial market (UMOA).
Subscription period: September 29 – November 5, 2025
The issuance has a 5-year maturity ending in 2030 and is structured into four tranches (Senior, Mezzanine, Junior C1 and C2), offering interest rates of up to 10%.
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It stands out for its innovative and sustainable nature:
- 52.5% (XOF 63 billion) will be allocated to Green Bonds, funding renewable energy and energy efficiency projects.
- 47.5% (XOF 57 billion) will be issued as Sustainability-Linked Bonds (SLBs), tied to environmental and social performance targets.
This is the first operation in Africa combining both a Green Bond and a Sustainability-Linked Bond.
The initiative aims to strengthen universal access to electricity and accelerate Senegal’s energy transition, with a national target of 40% renewable energy in the power mix by 2030.
The bonds will be listed on the BRVM, enabling trading on the secondary market.
