logoBC
Yaoundé - 27 November 2020 -
Finance

Cameroon raised over XAF3,000 bln in capital markets in 2010-2019

Cameroon raised over XAF3,000 bln in capital markets in 2010-2019
  • Comments   -   Thursday, 05 November 2020 11:57

(Business in Cameroon) - Cameroon issued XAF3112.7 billion of public securities on sub-regional and international capital markets between 2010 and 2019. The figure was disclosed by Samuel Tela (Director of Treasury at the Treasury General Directorate of the Ministry of Finance) during a workshop organized in Kribi on November 4, 2020, to explain to economics journalists the reforms being implemented by the Ministry of Finance.

Specifically, during the period, the country raised XAF1,593.6 billion on the sub-regional capital market by issuing treasury bills and XAF795 billion via bond issuance on the local financial market.

At the same time, the country raised XAF273.7 billion by issuing bonds on the CEMAC capital market and XAF450.3 billion thanks to the only Eurobond it ever issued.

Let’s note that during the Eurobond operation (carried out in 2015 and backed with a 9.75% interest rate), the government raised $750 million (XAF375 billion) but it later executed a cross-currency swap (aimed at mitigating risks while reducing the interest expenses). Cameroon then swapped the currency in which the Eurobonds were denominated, from US dollars ($) to the EURO (€), which was less volatile than the US$ at the time. The XAF75 billion increase in the amount of the Eurobond (from XAF375 billion to XAF450.3 billion) was due to the financial costs of the swap and currency fluctuations. Also, according to credible sources, the XAF450 billion does not include interest charges.

Brice R. Mbodiam

cameroon-saved-xaf40-bln-of-wage-bill-this-year-pm-joseph-dion-ngute-reveals
This year, Cameroon saved XAF40 billion of wage bills. This was revealed by Prime Minister Joseph Dion Nguté while presenting the government's economic,...
cemac-gabon-car-and-cameroon-had-the-highest-interest-rates-on-medium-term-loans-in-h1-2020
Between January and June 2020, Cameroonian banks were very demanding, as far as interest rates are concerned, for medium-term loans (repayable over about...
cemac-interbank-transactions-were-up-in-number-but-down-in-value-at-end-jul-2020
In its recently-published September 2020 monetary policy report, the Bank of Central African States (Beac) reveals that during the period ending in late...
cemac-interbank-transactions-were-up-in-number-but-down-in-value-at-end-jul-2020
In its recently-published September 2020 monetary policy report, the Bank of Central African States (Beac) reveals that during the period ending in late...

Mags frontpage


Business in Cameroon n93: November 2020

Cashew, Cameroon’s new source of revenues


Covid 19 : “Making the team’s health a priority”


Investir au Cameroun n103 Novembre 2020

L’anacarde, la nouvelle source de recettes du Cameroun


Covid 19 : « La santé des équipes avant tout »