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Money Market: Cameroon starts Q4-2020 on the right foot by successfully raising XAF20 bln

Money Market: Cameroon starts Q4-2020 on the right foot by successfully raising XAF20 bln
  • Comments   -   Thursday, 08 October 2020 11:50

(Business in Cameroon) - Six (6) of the twenty one (21) primary dealers approved by Cameroon on the BEAC public securities market recently mobilized XAF20 billion for the country. The operation, which took place on September 30, 2020, was conducted via the issuance of 26-week treasury bills.

This is the first operation conducted by the Cameroonian public treasury on the CEMAC money market during the current quarter (Q4-2020). According to the provisional timetable, the country plans to raise XAF180 billion on the above-mentioned market in this quarter.  

Most (XAF120 billion) of the funds to be raised will be mobilized through the issuance of long-term public securities (6, 7, and 10-year treasury bonds).

With this provisional timetable, the country is confirming its plan to refocus its fund mobilization strategy towards issuance of medium and long-term securities instead of short-term securities that are deemed inflexible.

BRM

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