(Business in Cameroon) - Of the 13 banks shortlisted for the sale of treasury bills issued last September 4 within the BEAC (Bank of Central African States) market, only four bought the notes. Worth 10 billion francs CFA, government raised 8.011 billion francs CFA, according to a statement from the Minister of Finance, Alamine Ousmane Mey, published on the website of BEAC Bank.

However, the management of the state treasury is not worried. “This outcome does not surprise us, we are within a budding market and it will take time to grow,” explained Léonard Kobou Djongue, Chief of the Treasury Division in the Ministry of Finance.

The State of Cameroon will only borrow 7.511 billion francs CFA. An amount that will hinder the initial apportioning to the three projects cited-hydroelectric dams in Lom-Pangar and Mekin as well as the Yaoundé-Okola-Evodoula stretch.

To fill the gap, Cameroon in the days ahead will issue more bills in the last quarter of the year, Mr Kobou Djongue confirmed.  The date of issuance will be known before September 20, 2013.

Meanwhile, the notes issued last week, will mature on the 7^th of September 2015.