(Business in Cameroon) - Gabon just launched a bond issuance to raise XAF100 billion, official sources reveal. According to those sources, the funds raised during the operation should finance the country’s budget deficit and realize investment projects.

During the operation, Cameroon will play an important role. The lead arranger is Attijari Securities Central Africa (ASCA), an asset management company created in February 2011, in Cameroon, by Moroccan banking group Attijariwafa Bank.

In addition, three of the seven underwriters of this new bond issuance are based in Cameroon. They are namely SCB Cameroun, Afriland First Bank, and UBA Cameroun.

Let’s also note that the success of the operation partly rests on the shoulders of Attijariwafa Bank since it is affiliated with two of the seven underwriters (Union gabonaise de banque and Crédit du Congo) and the lead arranger.  

Brice R. Mbodiam