South senegal, acting through the Société nationale de Gestion et d'exploitation du Patrimoine bâti (Sogepa), has successfully issued a record Sukuk of 330 billion CFA francs. It thus carries out the largest operation in the history of the sub-regional market. The announcement was made by the Ministry of Finance and Budget in a press release made public on Wednesday, April 27.

This is the first time that Senegal has applied for Sukuk titles within waeMU. This first Sukuk issued by a company in sub-Saharan Africa opens up new perspectives for Islamic finance in the continent by stimulating a new dynamic in this market compartment.

Sukuk also embodies the innovative approach of the State of Senegal to the management of its built heritage, through SOGEPA. The funds raised will make it possible to make investments at the national level to strengthen the State's control over strategic assets affecting  sovereignty or high profitability, in particular the acquisition of stakes in activities such as the Port of Ndayane or the Toll Motorway Management Company, etc.