Since its establishment, UMOA-Titres has remained firmly committed to supporting the Union’s eight Member States in raising financing on the capital markets at controlled cost. Marking the institution’s tenth anniversary, this issue reviews its achievements and its contribution to the development of the regional government securities market.

UMOA-Titres was created in 2013 against a backdrop of steadily rising financing needs among the Union’s Member States, under increasingly favourable conditions, particularly in support of their economic development programmes. The establishment of this regional institution marked a major milestone for the market, as its mission has been to promote the efficient functioning of the regional government securities market through the modernisation of practices and stronger market momentum. Over the years, UMOA-Titres has fulfilled this mission in exemplary fashion. This is reflected in several priority reform initiatives implemented during its early years, including the standardisation of financial instruments; the introduction of a government securities issuance calendar; the adoption of good practice rules for government securities issuance; and the promotion of active debt and cash management.

Read the full analysis by Oulimata NDIAYE DIASSÉ, Director of UMOA-Titres, in the editorial of this issue.