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Yaoundé - 13 August 2020 -
Finance

Cameroon to raise CFAF25 bln on the BEAC money market on Jul 15 via issuance of T-bills

Cameroon to raise CFAF25 bln on the BEAC money market on Jul 15 via issuance of T-bills
  • Comments   -   Tuesday, 14 July 2020 16:09

(Business in Cameroon) - The Cameroonian government will be back on the Beac money market on July 15, 2020, according to an official release from the Ministry of Finance. This operation is aimed at mobilizing CFAF25 billion through the issuance of 26-week fungible Treasury bills (T-bills).

The country is somewhat confident about this operation which is the second it is carrying out on the BEAC market in the third quarter of 2020 because it enjoys investors’ confidence.

Indeed, as Sylvester Moh (photo), Director General of the Treasury at the Ministry of Finance said, “Cameroon is currently the only sub-Saharan country which is still getting short term financing with interest rates below 3% and less than 7% for long-term financing."

As a reminder, after a successful Q2-2020 during which the country carried out its T-bonds issuance program, raising a total of CFAF219 billion on the same money market, Cameroon plans to raise CFAF 110 billion on this market during the 3rd quarter of the current year.

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