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Senegal secures $620 Million in local bonds after credit downgrade

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Brandon Orion Mensah

Brandon Mensah tracks Africa’s markets, uncovering the forces shaping investment, policy, and financial trends.
  • S&P slashes sovereign rating to B- after $14.7bn in hidden debt revealed
  • Government turns to regional markets as IMF talks continue

DAKAR, SENEGAL – One day after S&P Global Ratings downgraded Senegal’s long-term sovereign credit rating to ‘B-’ with a negative outlook, the government raised 364 billion CFA francs ($620 million) in a domestic bond issuance, reflecting investor confidence despite spiralling debt levels and budget shortfalls.

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