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Yaoundé - 21 January 2022 -
Finance

CEMAC: Development bank BDEAC raises over XAF115 bln in the regional financial market for integration financing and economic recovery

CEMAC: Development bank BDEAC raises over XAF115 bln in the regional financial market for integration financing and economic recovery
  • Comments   -   Wednesday, 08 December 2021 15:40

(Business in Cameroon) - The Development Bank of Central African States (BDEAC) recently concluded its bond issue baptized “ BDEAC 5.60% net 2021-2028 ” on the Central African regional exchange BVMAC. According to the results published in Brazzaville (Congo) on December 7, 2021, the BDEAC raised XAF114.8 billion during the operation, higher than the initial XAF100 billion it was sourcing.

"This performance is unique because it is better than the result recorded a year earlier (XAF107 billion). It is also unique because it was achieved in a more competitive environment with notably countries in the sub-region organizing bond issues in the same market. The performance especially shows the positive views investors have about the quality of the bank’s signature,” the BDEAC wrote in an official release.

The bank explains that the operation ran from November 15 to December 2, 2021, “involved every population group in the sub-region and the diaspora.” However, regional banks and microfinance institutions contributed the lion’s share of the funds raised by accounting for 89% of the whole envelope.

The funds were raised in the framework of the second phase of the XAF300 billion financing plan approved by the BDEAC’s general assembly in 2020. Scheduled to be raised between 2020 and 2022, the funds are aimed at boosting the development bank’s capacity to quickly answer the various calls for funding issued in the framework of integrating projects and support economic recovery by financing the private sector, the BDEAC stresses.

Brice R. Mbodiam

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