According to Umoa-titres Coris Bank is the best Contributing Treasury Securities Specialists in 2019 in Togo, followed by Bank of Africa, Ecobank, Orabank and the Togolese Banking Union (UTB).
A situation valid on the entire Umoa market strongly dominated by commercial banks. They represent about 90 % of the securities on this market, for 13600 billion FCFA (especially in OAT, BAT and syndicated securities).
The information was shared at the 3rd edition of the Rencontres du Marché des Titres Publics de la zone UEMOA (REMTP 2021). 
Thus, at the end of December 2020, only 8.63% of the securities were held by local investors (Insurance Company, UCITS, Pension Funds etc...)
Of this portion, UCITS (Undertaking for Collective Investment in Transferable Securities), for example, represent only a little more than a third of the weight of local institutions, with CFAF 720 billion under management at the end of 2020, or barely 5 % of the global market.
Offshore institutions, on the other hand, manage only 100 billion FCFA, or 0.75% on this market. These are essentially Offshore Banks and other Brokers, Family Offices, or a few rare Hedge Funds.
For the experts, this under-representation of institutions is explained in particular by a sub-regional regulatory context that would limit the scope of action of certain actors, the structuring of pension systems, which limits interest in financial markets, or a more limited supply from banks and SGI (Companies of 'intermediation).
Reflections were carried out to explore the possibility of market reforms, to be able to invite more insurers and pension funds. These last types of players, in particular, make it possible to support longer-term loans (over 10 or 20 years), unlike shorter maturities, as currently observed on the market.
The objective, in the long term, is to reach a presence of 35% of these institutional actors, in a context marked by economies still very little financialized in the sub-region.