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Yaoundé - 29 May 2020 -
Finance

Gabon and Safacam’s bonds get listed on the BVMAC

Gabon and Safacam’s bonds get listed on the BVMAC
  • Comments   -   Friday, 21 February 2020 10:59

(Business in Cameroon) - Today, Feb 21, two bonds issued in the Central African region last year were listed on the Unified Stock Exchange of Central Africa (BVMAC), the stock exchange announces.  

The first is Gabon’s 2019-2024 bond, with an interest rate of 6.25% thanks to which the country raised XAF126 billion in Q4-2019. Initially set at XAF100 billion, the envelope requested by Gabon was revised upwards following authorization by the financial market regulator, after investors oversubscribed to that bond.

The second bond listed is that of Société Africaine Forestière et Agricole du Cameroun (Safacam) in Cameroon. Though this operation was conducted discreetly, Business in Cameroon learned from sources close to the Central African Unified Stock Exchange that it was arranged in late 2019 by Sogebourse, the brokerage firm of Société Générale Cameroon.

According to our sources, Safacam, an agro-industrial unit that produces palm oil and rubber in the Littoral region of Cameroon, raised XAF2 billion during the operation.

The arrival of these two bonds on the BVMAC now allows their holders to trade on the secondary market of the Unified Stock Exchange of the Central African region.

BRM

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