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Yaoundé - 05 October 2022 -
Finance

Cameroon plans to raise CFA100bn on Beac public securities market by end October

Cameroon plans to raise CFA100bn on Beac public securities market by end October
  • Comments   -   Wednesday, 14 September 2022 18:13

(Business in Cameroon) - The Cameroonian Treasury is getting ready to raise CFA100 billion on the Beac public securities market by the end of October 2022.

The initiative, we learned from official sources, will consist of three issues of fungible treasury bonds (OTAs), which are long-term securities with 2 to 10-year maturity. To make sure the fundraising is successful, Cameroon has opted for domestic syndication. It is a mechanism validated last year by the central bank, which consists of a government issuing public securities through a group of primary dealers (SVTs) forming a syndicate and headed by a lead manager. For this operation, Cameroon chose the local subsidiary of the French banking group Société Générale to be the lead manager.

Initially, the Head of state empowered the Minister of Finance on August 23, 2022, to raise an additional CFA200 billion, through the issuance of public securities, within the framework of the 2022 Finance Law. This brings the total amount sought to CFA550 billion.

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