(Business in Cameroon) - In December 2021, the average subscription rate to public securities issued by Cameroon on the BEAC -Central bank of the CEMAC region- debt market was 80.05%. According to data published by the central bank, this is the lowest rate recorded by the country since June 2019. Indeed, in June 2019, that rate was 160.86% and 142.60% in June 2020 before growing considerably to 209.39% in June 2021. 

The BEAC does not explain why there is such a drop in the average subscription to the country’s securities despite it being clearly the most attractive to investors in the CEMAC zone. However, the decline comes amid competition from neighboring zone countries in the said debt market. 

The main countries in that category are Gabon and Congo. Their signatures are less attractive than Cameroon’s but they offer higher interest rates to investors. As a result, many investors go for the securities they issue. Moreover, due to its intense activities in 2021, Gabon even superseded Cameroon as the main market maker in 2021. 

BRM