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Yaoundé - 21 October 2017 -
Finance

Cameroon, most active facilitator on BEAC’s stock exchange seeks to raise CFA5 billion on October 11

Cameroon, most active facilitator on BEAC’s stock exchange seeks to raise CFA5 billion on October 11
  • Comments   -   Wednesday, 11 October 2017 06:30

(Business in Cameroon) - Cameroon’s public treasury announced that it will issue, on October 11, 2017, CFA5 billion worth of fungible treasury bills by issuing tenders.

These bills will mature on October 12, 2017 (a 52 weeks maturity period) and, they will be redeemed in fine. Though Cameroon’s treasury did not reveal the interest rates, its minimum interest rate is usually 3.3% and the maximum is 6%.  The purchasers can buy the bills in banks and financial institutions of the economic and monetary community of Central African states (Cemac), certified as “treasury bonds specialist”. The banks include, among others, Afriland First Bank, Bicec and Bicig Gabon, BgfiBank Gabon, Crédit du Congo, Ecobank Cameroon, Société générale Cameroon.

Cameroon, the main facilitator on the BEAC’s stock exchange, has been breaking subscription rates record for some months now. Last September 20, 2017, for instance, it wanted to raise CFA5 billion but, it raised CFA11.575 billion instead; thus recording a 231.5% subscription rate for the operation. Again, some weeks before this feat, its treasury bond scored a subscription rate of 385% for another operation. Indeed, Cameroon’s government sought CFA5 billion but got CFA19.25 billion.

Sylvain Andzongo

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