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Yaoundé - 26 September 2021 -
Finance

CEMAC: Cameroon raises only XAF34.8 bln despite the XAF40.2 bln subscriptions to its June 16 bond isuance operation

CEMAC: Cameroon raises only XAF34.8 bln despite the XAF40.2 bln subscriptions to its June 16 bond isuance operation
  • Comments   -   Wednesday, 23 June 2021 16:34

(Business in Cameroon) - During its June 16, 2021, long-term security issue, Cameroon raised only XAF34.8 billion out of the 50 billion it was sourcing through the issuance of 6-year bonds backed by a 6% interest rate.

According to figures published by the Bank of Central African States, XAF40.2 billion of the bonds were subscribed. However, the country kept just XAF34.8 billion because of its prudential interest rate policy, which is to raise funds with low-interest rates.

This is the second time the Cameroonian public treasury is organizing such a long-term bond issue operation this quarter (Q2-2021). According to the provisional calendar of issuance operations on the BEAC debt market published by the Ministry of Finance, the country plans to raise XAF100 billion on the market this quarter. For public authorities, the funds raised will finance investment projects all over the country.

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