Instruction No. 10 07 2025 RFE on Domiciliation of Direct and Portfolio Investment Operations

5 the share of the seventy-five percent borrowed from abroad cannot be effected by transfer from the WAEMU or, in the Union, to the benefit of a non-resident.

Article 8: Transfer in respect of the liquidation of direct investments or portfolio investments or repayment of loans

Any liquidation of direct investments or foreign portfolio investments, which takes the form of a transfer between non-residents and residents, as well as any repayment of external loans, must be subject to the presentation, to the authorized intermediary responsible for settlement, of the supporting documents for this liquidation or these loans.

The authorized intermediary is required to declare, for statistical purposes, to the Ministry responsible for Finance and to the BCEAO, within a period of fifteen working days after its completion, the liquidation of the investment or the repayment of the loan.

The authorized intermediary transfers, under its responsibility, the proceeds from the liquidation of the investment or the sums necessary for the repayment of the loan, based on the required supporting documents.

In the context of the repayment of a loan obtained abroad, proof of repayment must be submitted to the domiciliation file opened in respect of said loan.

TITLE IV: FINAL PROVISIONS

Article 9: Entry into force

This Instruction repeals all prior provisions dealing with the same subject.

It enters into force on 01 AUGUST 2025 and is published wherever necessary.

Done in Dakar, on July 7, 2025

The Governor