(Business in Cameroon) - On 27 January 2016, the Cameroonian Treasury again issued treasury notes (with a maturity of 52 weeks) for FCfa 7 billion on the BEAC public stock market. This second operation of the year was preceded on 13 January by an issuance of 13-weeks maturity bills, whose results are rather dazzling, the issuing bank for the six countries of the CEMAC area (Cameroon, Congo, Gabon, Equatorial Guinea, CAR, Chad) announced in an official communiqué.

Indeed, while the Cameroonian Treasury was only requesting FCfa 7 billion, the Treasury bond dealers raised FCfa 30.3 billion, which translates into a rate of coverage of the demand of 432%, with interest rates from 2.05 to 5.7%, equivalent to an average weighted rate of 2.3%.

With these results, Cameroon performed better than Gabon and Chad, who also launched their 2016 operations on the BEAC market on 20 January. If subscriptions to the Gabonese bond doubled the requested envelope of FCfa 10 billion, with an average interest rate of 3%; Chad, for its part, did not manage in the least to raise the FCfa 15 billion it was hoping for.

Officially, Idriss Déby's country only collected FCfa 9 billion with an average rate of 3.1%, being only 60% of the demand covered. Moreover, according to BEAC, only one treasury bond dealer out of the seven approved by the Chadian State took part in this inaugural operation for 2016.

BRM