(Business in Cameroon) - Cameroon plans to issue XAF275 billion of public securities in the Bank of Central African States (BEAC) market in the fourth quarter of this year. According to credible sources, the securities issued will include both short-term bills (up to 52-weeks maturation period) and long-term bands (between two and ten years maturation period). The amount raised will fund investment projects and help deal with the country’s cash flow needs.
Specifically, with six issuance operations, Cameroon plans to raise XAF120 billion of short-term financing and XAF155 billion of long-term financing. It should not be that hard for the country to raise the funds it is expecting from the said market. Recently, Sylvester Moh, Director-General of the Treasury, revealed that the bid-to-cover ratio for Cameroon’s securities in the BEAC market usually averages 120%; meaning, for every XAF100 sourced in the market, the country usually receives a XAF120 offer.