As part of the development of the regional financial market and the strengthening of innovative agricultural financing mechanisms, La Banque Agricole (LBA), in partnership with the consortium Invictus Capital & Finance, KF Titrisation, and Development Finance Advisory, presented the first listing of securities issued through the FCTC Croissance Agricole (Agricultural Growth Fund). The official presentation and launch ceremony was held on Tuesday, May 5, 2026, in Dakar, under the chairmanship of Mr. Mabouba Diagne, Minister of Agriculture, Food Sovereignty, and Livestock. It brought together key players from the financial sector, public institutions, investors, and technical and financial partners, including Mr. Mouhamadou Moustapha Faye, CEO of KF Titrisation, and Dr. Edho Kossi Amenounve, CEO of the BRVM (Regional Stock Exchange of West Africa).

"A major step in structuring financing for the agricultural sector"

The launch of this listing marks a major step in structuring financing for the agricultural sector, through an innovative financial instrument designed to mobilize sustainable resources to support agricultural growth in Senegal and the sub-region. This is the first listing of bonds issued by the securitization funds: Agricultural Growth 2025-2032.

Agriculture is at the heart of the economic, social, and strategic priorities of the State of Senegal. It is considered a sector of sovereignty, food security, employment, industrial transformation, and territorial development. This listing operation, which raised 80 billion CFA francs, has demonstrated that it is indeed possible to leverage the regional financial market to support these priorities by providing innovative solutions to the financing needs of the agricultural sector.

"This securitization operation, both structuring and innovative, embodies a major evolution in the methods of financing the agricultural sector."

According to the CEO of La Banque Agricole, Ms. Fatma Fall Dièye, this presentation of the first listing marks a decisive step in the history of La Banque Agricole. "Minister," she stated, "the choice of the name 'Agricultural Growth' is not accidental. It reflects a strong conviction in the context of food sovereignty. Indeed, the growth of the agricultural portfolio now forms the basis of our strategy and the concrete expression of our ambition to sustainably support all agricultural value chains, from the laboratory to the fork."

"This securitization operation, both structuring and innovative, embodies a major evolution in the methods of financing the agricultural sector. It illustrates the ability of our institution to mobilize the instruments of the financial market to serve the real economy and more particularly a strategic sector of our country," she added.

Through this initiative, the Agricultural Bank is reinforcing its primary mission by mobilizing significant resources to support all stakeholders in the agricultural value chain, namely: operators, producers, processors, and manufacturers, of whom the Director General of Sonacos, present here today, is a prominent representative. It also fully aligns with the national effort to strengthen Senegal's food sovereignty.

“I would like to emphasize that this operation was also the result of a close partnership with the State of Senegal. Its constant support was crucial in structuring and realizing this initiative,” said the Director General of LBA, not forgetting the public and private investors, the institutional investors.

Ms. Dièye took the opportunity to solemnly call upon them to continue supporting the Agricultural Bank in order to translate this momentum into action. "Supporting our institution is not simply a financial investment. Far from it. It is a commitment to a vital cause: the development of a modern, inclusive, and resilient agriculture. Through this support, you will also contribute concretely to food security, job creation, and the structural transformation of our economy," Ms. Fatma Fall Dièye affirmed.

Furthermore, the CEO of LBA emphasized that this listing is not an end in itself. "On the contrary, it is the starting point of a new phase. It opens up promising prospects, opportunities, and transformation," reassured Ms. Fatma Fall Dièye.

286 subscriptions were recorded on this line

In her presentation of the results of the FCTC Agricultural Growth operation, Ms. Touré reported that 286 subscriptions were recorded on this line through 12 EGI members of the placement syndicate.

Compared to the investor mapping, it reveals that 94% of subscriptions were registered with legal entities and 6% with natural persons.

Ms. Touré reports that Senegal accounted for 70% of subscriptions, followed by Ivory Coast with 25%. Benin recorded 4% and Burkina Faso 1%.

"These are exactly the innovations we need."

The Minister of Agriculture, Sovereignty, and Livestock, for his part, reiterated the importance of this operation. "It's true, you spoke of a lot of financial structuring. Raising 80 billion is certainly a very good thing, but compared to the needs of agriculture, it's extremely low. That's to show you how important this operation is," stated Mabouba Diagne.

He adds: "To the director of La Banque Agricole and her teams, in partnership with the financial sector, I humbly say that you are on the right track. Quite sincerely, you are on the right track. I remain absolutely convinced that these operations, as you have carried them out, Madam Director, in partnership with all financial stakeholders, are exactly the innovations we need."

In this regard, the state authority wished to congratulate Ms. Fatma Fall Dièye. "And I congratulate you on behalf of His Excellency the President of the Republic, on behalf of the Prime Minister, on behalf of all Senegalese people, but also on behalf of the entire WAEMU community. You are on the right track, Madam," he declared.

The minister also took the opportunity to thank the Director General of LBA for the outstanding work she has done over the past two years. "All these records we're talking about, you and your teams are among the architects behind them," Mabouba Diagne stated.

"This operation is of particular importance for the BRVM"

The CEO of the BRVM, after welcoming the Minister's presence despite his very busy schedule, stated that this operation is of particular importance to the BRVM. This is because it falls within the framework of the Agricultural Bank's search for innovative financing mechanisms to refinance part of its debt portfolio. "I believe that such an operation is perfectly aligned with the BRVM's strategic direction to offer our ecosystem innovative, attractive, and secure instruments," declared Dr. Edho Kossi Amenounve.

According to him, this meeting is much more than a simple technical formality of the market. "For us, it's not simply about organizing a listing, but a very strong symbol of a connection we have always desired between the real economy and finance. Today, we are celebrating a very clear connection between the agricultural world and financial markets. The success of this operation testifies not only to investors' confidence in our market but also to their willingness to support the development of a sector that is important for our economies," he explained.

The CEO of the BRVM also noted that the securitization market is expected to reach $1 trillion this year, with an expansion into non-traditional assets. He considers this very significant and the future of finance as it emerges.

Dr. Edho Kossi Amenounve congratulated the Agricultural Bank of Senegal on this remarkable achievement. "Madam, your courage is commendable. This demonstrates that you are a woman of action, and that is something we must applaud," he concluded.