Cameroon spent CFA1.4 billion in new interest payment on the Beac market

Finance

Cameroon spent CFA1.4 billion in new interest payment on the Beac market

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- Tuesday, 26 April 2022 18:58

(Business in Cameroon) - Cameroon has spent a total of CFA1.4 billion in new interest payments on the Beac securities market. The payment is related to a 3-year fungible Treasury bond (OTA) issue made in 2020, yielding 4% annually.

With this new payment, Cameroon confirms it is a creditworthy country. Since the Beac market was launched in 2011, Cameroon has spent more than CFA3 trillion in repayments. Better still, according to the Ministry of Finance, these repayments have all been made without a single default. This creditworthiness status allows the country to borrow 2 to 3 times cheaper on this market, compared to other Cemac countries. For example, in March 2022, Cameroon served an average interest rate of 2.53% on its treasury bills, against a global average that peaked at 6% on the market.

BRM

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