- BRVM lists first securitized bonds to fund Côte d’Ivoire electrification
- 60 billion CFA issuance supports “Electricity for All” program expansion
- Funds aim to connect 800,000 households, boost access toward 2030
Bourse Régionale des Valeurs Mobilières (BRVM), UEMOA’s regional stock exchange, on Thursday launched the first listing of bonds from the Fonds Commun de Titrisation de Créances (FCTC), as part of the government’s “Électricité Pour Tous” program (PEPT).
The issuance is split into three tranches: “FCTC EPT 7.50% 2025–2032,” “FCTC EPT 8.00% 2025–2035,” and “FCTC EPT 8.50% 2025–2040,” for a total of 60 billion CFA francs ($107 million). Each bond has a nominal value of 10,000 CFA francs.
Launched in 2014, the PEPT is part of the government’s “Côte d’Ivoire 2030” vision and aims to expand electricity access nationwide.
To broaden its funding base, the PEPT Fund was established in October 2018. Using a securitization structure developed with asset manager Africa Link Capital Titrisation, it has since raised capital from the UEMOA regional financial market through bond issuances.
The listing aims to strengthen the long-term sustainability of the electrification program for low-income households and boost its credibility with regional and international investors.
“With this operation, we will have mobilized 120 billion CFA francs through securitization. These funds will enable the connection of nearly 800,000 new households and accelerate PEPT’s rollout across the country, at a rate of 750,000 connections per year,” said Silué Zahalo, president of the PEPT Fund.
Decades of investment in power generation have enabled Côte d’Ivoire to expand its capacity, which now exceeds that of most neighboring countries. Despite this, more than a quarter of the population still lacks access to electricity. According to the World Bank, the electricity access rate stood at 72% in 2023.
Through the PEPT, which subsidizes grid connections and tariffs for low-income households, the country aims to achieve near-universal access by 2030.
Lydie Mobio