The listing of the FCTC NSIA Bank 7% 2020-2025 comes after the success of the issuance of 4,000,000 bonds that took place from February 7 to March 6, 2020 under the leadership of NSIA Finance, SGI leader of the investment syndicate. These bonds with a nominal value of 10,000 CFA francs, with a maturity of 60 months and an annual rate of return of 7% were oversubscribed to the tune of 41.3 billion CFA francs for 40 billion CFA francs expected.

The mortgage and securitization market was born from the idea of improving the financing of Housing in the WAEMU by refinancing mortgage loans through the securitization technique. It was in Bissau, on 30 March 2010, that the WAEMU Council of Ministers adopted:

• Regulation No. 02/2010/CM/UEMOA on FTCTs and Securitization Operations in waeMU, and;

• Regulation No. 03/2010/CM/UEMOA on covered bonds in the WAEMU, thus covering the baptismal font of this market.

The CRRH gave life to the market by issuing its first bonds in 2012, called "CRRH-UEMOA 6.10% 2012-2022", for an amount of 12.5 billion FCFA. As for fcTC, they were issued on the market, for the first time, in 2016, recalls Dr. Edoh Kossi Amenounvé, Director General of the BRVM. Since then, the financial market has recorded 5 FCTC, all non-mortgage, for an amount of 181.19 billion FCFA. There is now still the issuance of covered bonds, says Dr Amenounvé, pointing the way forward.