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Yaoundé - 03 July 2020 -
Finance

Société Générale Chad and UBA Gabon join the list of Cameroon’s primary dealers on the BEAC securities market

Société Générale Chad and UBA Gabon join the list of Cameroon’s primary dealers on the BEAC securities market
  • Comments   -   Monday, 01 June 2020 15:55

(Business in Cameroon) - There are now 21 banks in the CEMAC zone recruited as primary dealers by the Cameroonian government, for its fundraising operations on the public securities market of the BEAC, the Central Bank of the six CEMAC countries (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea).

Indeed, the official communiqué published on May 27, 2020, announcing a 5-year Treasury bond issuance by the Cameroonian Treasury, listed 21 primary dealers (instead of the 19 actives until September 2019) approved by Cameroon to act as intermediaries on the money market.

The two newcomers are the Chadian subsidiary of French group Société Générale, and the Gabonese subsidiary of Nigerian banking group United Bank of Africa (UBA). By expanding its network of primary dealers operating on the BEAC public securities market, Cameroon is reaffirming its ambitions on this market, in which it has decided to focus most of its fundraising operations instead of on the unified financial market.

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