The Belgian midfielder is on Arsenal’s radar this summer and the club are interested in signing him to add to their options ahead of next term.
The Gunners have been keeping tabs on Lokonga for several months and have been pondering over making a move for him as part of their transfer plans.
According to Belgian daily Het Laatste Nieuws, the Gunners recently tabled a bid for Lokonga in order to test the water with Anderlecht.
Arsenal put in an offer of €15m including add-ons, but Anderlecht wasted little time in knocking back the proposal from the Gunners.
It is unclear what base amount Arsenal offered as an initial bid, but it was not enough to please Anderlecht.
The Belgian giants want a guaranteed fee of €20m at least before they would consider selling the midfielder this summer.
Anderlecht are also aware that Lokonga has suitors in Germany and France as well and his price could rise in the coming weeks.
The midfielder himself is keen to move on to a higher level and has communicated his view to the Belgian giants.
Arsenal remain keen and may return with a fresh offer soon as part of their strategy.