Senegal's national electricity utility, Senelec, has raised 108 billion CFA francs (approximately $175 million) through a bond issuance on the Luxembourg Stock Exchange (LuxSE).
The capital raise is designated to fund the company's green energy projects and the expansion of its power distribution network.
This issuance adds to a robust pipeline of activity on the Luxembourg market, which has recorded a record year for securities issuance with total volume reaching $1.
The transaction highlights the increasing appetite of African utilities for European capital markets to finance infrastructure modernization.
By listing on LuxSE, Senelec taps into a deep pool of institutional investors seeking exposure to West Africa's energy transition.
The move aligns with broader regional efforts to diversify funding sources beyond traditional bilateral aid and domestic borrowing.
This issuance adds to a robust pipeline of activity on the Luxembourg market, which has recorded a record year for securities issuance with total volume reaching $1.65 trillion.