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Yaoundé - 27 July 2021 -
Finance

Cameroon heads back to the BEAC debt market to raise XAF50 bln through issuance of 6-year bonds

Cameroon heads back to the BEAC debt market to raise XAF50 bln through issuance of 6-year bonds
  • Comments   -   Thursday, 17 June 2021 15:14

(Business in Cameroon) - On June 16, 2021, after a 1-month break, Cameroon headed back to the Bank of Central African States (BEAC)’s public securities market to issue new long-term securities. For this new operation, the country expects to raise XAF50 billion by issuing 6-year bonds backed by a 6% interest rate on this market where its securities are really attractive.

This is the second time the government is issuing long-term security this quarter (Q2-2021). According to the provisional timetable of the country’s issuance operations published by the Ministry of Finance, this quarter, the country plans to raise XAF100 billion on this debt market. In Q1-2021, the country raised XAF126 billion on the BEAC debt market (XAF1 billion higher than planned) for its investment projects, according to public authorities.

The love story between Cameroon and the BEAC debt market started in 2019. That year, the country decided to start sourcing its long-term financing on this debt market. It was therefore shifting its long-term fund sourcing operations from the Central African Stock Exchange (BVMAC) deemed more costly. This decision proved to be a good one because nowadays, according to the General Directorate of the Budget, in the Sub-Saharan African region, Cameroon is the country that raises the cheapest loans.

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