logoBC
Yaoundé - 09 December 2023 -
Finance

Beac public securities market thrives in 2023, despite rising interest rates

Beac public securities market thrives in 2023, despite rising interest rates
  • Comments   -   Monday, 02 October 2023 17:05

(Business in Cameroon) - The Bank of Central African States -BEAC- noted a good momentum on the primary public securities market throughout the year, despite a constant increase in the interest rates offered on the market. These findings were unveiled during the 3rd 2023 session of Beac’s Monetary Policy Committee (MPC) held on September 25, in Douala.

In July, for example, the volume of claims held by investors on the market rose by 17.8% to CFA5,881.5 billion, according to Beac. The average interest rate charged for fungible treasury bills (BTA) rose from 5.2% in 2020 (compared with 2.7% when the market was launched in 2011), to 5.94% in May 2023. This means that the average cost of these short-term government securities, with maturities of up to one year, has risen by 74 points in less than 3 years.

For fungible treasury bonds (OTAs), medium- and long-term government securities, the average cost rose by 112 points over the same period, from 7.87% in 2020 (compared with 4.18% at the time of the first operations in 2013) to 8.99% in May 2023.

Beac explains this upward trend by the growing interest of Cemac countries in this market, and the resulting surge in demand for financing. The higher interest rates are also due to the measures taken by the Beac to tighten its monetary policy to combat rising inflation.

president-paul-piya-wants-camtel-to-remain-a-public-entity
Cameroon’s President Paul Biya opposes the privatization of the country’s incumbent telecoms operator, Camtel. The decision was the subject of a letter...
cameroon-plans-to-build-550-new-housing-units-in-douala-and-yaounde-in-2024
Cameroon’s PM Joseph Dion Ngute announced the government’s plan to build 550 new housing units in the cities of Douala and Yaoundé next year. He was...
bvmac-introduces-its-first-market-index-the-bvmac-asi
On December 1, 2023, a committee in Douala, Cameroon, selected the name for the inaugural stock index of the Central African Securities Exchange (Bvmac),...
cameroon-s-trade-dynamics-in-eccas-opportunities-and-challenges
From 2019 to 2022, nations in the Economic Community of Central African States only captured 6.3% of Cameroon's exports, well below the 10% and nearly...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »