(Business in Cameroon) - This month, October 2019, the Cameroonian public treasury refunded a little more than XAF48 billion out of the 5-year bond it issued in 2016, the ministry of finance reveals. This represents 29% of the principal.

According to the country’s autonomous amortization fund, Cameroon’s refund in the framework of the bond was XAF9 billion in October 2017.

Issued on September 20, 2016, the said bond was the fourth in the history of Cameroon’s public treasury and was baptized “Ecmr 5.5% net 2016-2021”. It was aimed at raising XAF150 billion but, it was oversubscribed (115.43%).  

In search for funding for the implementation of its vast infrastructures investment program launched in 2012, the country requested, and obtained the regulator’s approval for an over-allotment authorisation to keep all of the XAF165 billion offered by investors.

Arranged by the consortium Afriland First Bank, EDC Investment Corporation and Société Générale Cameroon, the “Ecmr 5.5% net 2016-2021” helped partially fund road, water supply and energy products. These projects include the construction of Kribi deep seaport (XAF16 billion) and water supply to Yaoundé and neighbouring towns via Sanaga river.

BRM