In a major announcement, the General Directorate of the Regional Securities Exchange (BRVM) revealed that the State of Senegal will pay the semi-annual margin on July 26, 2023. The operation will also take into account the partial repayment of the capital of its Islamic bond, known as “SUKUK State of Senegal 6% 2016-2026”, for an impressive amount of

The partial repayment of capital will amount to 10.514 billion FCFA, while investors will share a profit of 2.232 billion FCFA. Sukuk was launched on June 20, 2016 on the UEMOA financial market, with the aim of raising 150 billion FCFA to finance state economic and social development projects. These projects included a drinking water supply program and a program to build a road and public lighting network as part of the Diamniadio urban cluster. The issuer had offered investors an attractive 6% profit margin. The Sukuk lasted 10 years, covering the period from 2016 to

The operation was structured around a mutual debt securitization fund (FCTC), which issued 15 million shares (Sukuk) with a nominal value of 10,000 FCFA each. In exchange for the liquidity of 150 billion FCFA, the FCTC had acquired the usufruct of Sukuk assets, which were leased in Senegal, thus generating a profit margin of

Sukuk assets consisted of the usufruct of part of the terminal building at the former Léopold Sédar Senghor International Airport, including a 115-hectare land base, identified by land title No. 17.621/NGA. These assets included departure and arrival halls, General Management buildings, car parks, hangars, and ancillary buildings. The value of Sukuk's assets had been valued at 250 billion FCFA by the FCTC Auditor