Cameroon: Public treasury issues fungible treasury bonds on BEAC’s market to raise CFA7bn

Finance

Cameroon: Public treasury issues fungible treasury bonds on BEAC’s market to raise CFA7bn

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- Friday, 01 December 2017 13:15

(Business in Cameroon) - Cameroon’s government issued Fungible treasury bonds on the market of BEAC on November 29, 2017. Sylvester Moh, executive director of treasury at the ministry of finance said that these bonds’ maturity period is 26 weeks.

The bond issuance would enable Cameroon’s public treasury to raise CFA7 billion in order to reduce the intermittent strain on its treasury. The 16 primary dealers accredited by Cameroonian authorities were once again solicited to raise the funds.

During auctions held on November 29, 2017, investors active on BEAC’s security market had to choose between Cameroon’s bonds and those of Gabon as this country’s authorities are also trying to raise CFA10 billion through fungible treasury bonds with 26-weeks maturity period.

BRM

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