Western Africa
EAIF invests US$15m in bond to fund relocation of Senegal's port of Dakar
The Emerging Africa Infrastructure Fund (EAIF) invested XOF8.3 billion (cUS$15 million) in a local currency capital market bond issued by Senegal’s Port Autonome de Dakar (PAD), the owner of the Port of Dakar.
The bond raised over XOF60 billion (US$107million).
XOF is the currency designation for the West African Franc (CFA) which is used by eight West African states; Senegal, Benin, Burkina Faso, Cote d’Ivoire, Guinea-Bissau, Mali, Niger and Togo. CFA means Communauté Financière d’Afrique (Financial Community of Africa).
The issuance of the bond marks the
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