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Yaoundé - 18 October 2019 -
Finance

Cameroon praises investors’ trust and attraction to its bonds in 2018

Cameroon praises investors’ trust and attraction to its bonds in 2018
  • Comments   -   Tuesday, 18 June 2019 12:16

(Business in Cameroon) - In 2018, Cameroon issued XAF302 billion in Treasury securities, a budget execution report indicates. Compared with the XAF260 billion planned in the budget, this represents a 116.2% achievement rate.

As far as treasury bills are concerned, the value of the issuance is XAF102 billion and XAF185 billion for refunds. In 2017, the net value of treasury bills issued was XAF85 billion, a performance which is 20.0% below the 2018 figure.

Bonds issuances were launched around the end of the fiscal year. The amount raised is XAF204.3 billion (XAF54.3 billion above the target) at a net interest rate of 5.6%. These bonds have a maturity period of five years, with quarterly payments after a year delay.

According to the finance ministry, which published the budget execution report, the over-subscription for Cameroon’s bond issuance is proof that these bonds are attractive and trusted by investors.

Sylvain Andzongo

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