logoBC
Yaoundé - 26 January 2021 -

BannerICBC2021

Finance

BDEAC to raise XAF300 bln on CEMAC financial markets via public bond placement over 2020-2022

BDEAC to raise XAF300 bln on CEMAC financial markets via public bond placement over 2020-2022
  • Comments   -   Monday, 30 November 2020 18:04

(Business in Cameroon) - During the extraordinary session conducted by videoconference on November 30, 2020, the General Assembly of the Development Bank of Central African States (BDEAC) approved a public placement bond issuance program aimed at raising XAF300 billion over the 2020-2022 period.

"This initiative is in line with priority goal N°2 of the 2017-2022 Strategic Plan which encourages the Bank to secure and diversify its sources of financing. The funds mobilized will be used to finance the private sector’s projects and they will be well-suited in terms of maturity and interest rate deferral," the institution explains.

It adds that the funds will also finance the implementation of the priority integrating projects of CEMAC's Regional Economic Program.

Let’s note that the bonds will be issued in local currency and they will be tax and duty-free in all CEMAC countries in accordance with the institution’s statutes. Investors who buy the securities will benefit from a guarantee of profitability, security, and liquidity, based on the performance of the Institution and its diversified shareholder base.

With this operation, the Bank aims to position itself as a benchmark issuer on the regional financial market. On the CEMAC financial market, the banking institution carried out two successful private placement bond operations (raising XAF40 billion) in 2005 and 2007, and in 2010, it carried out a public placement bond issuance raising XAF30 billion. All those funds were repaid on time.

"The positive trend in the Bank's results, combined with its ability to timely honor its commitments, give it certain credibility with investors who should accompany it in its efforts to finance CEMAC's economies. The BDEAC offers a new range of products that are both attractive and secure for investors seeking portfolio diversification and security," the sub-regional banking institution concludes.

S.A.

cameroon-155-advertising-companies-approved-to-operate-this-year
Minister of Communication René Emmanuel Sadi recently published a list of 155 companies authorized to carry out advertising consulting and...
cameroon-water-utility-camwater-seeks-suppliers-for-11-500-conventional-water-meters
Gervais Bolenga (general manager of Cameroon water utilities corporation-Camwater) announces that he recently issued a national call for tenders...
cemac-cameroon-proceeds-to-provisional-acceptance-of-150-km-of-roads-linking-the-country-to-congo
The Cameroonian Ministry of Public Works (Mintp) informs that today January 26, 2021, it will proceed to the provisional acceptance of 150 kilometers of...
cameroon-estimated-at-140-170-tons-in-2020-local-rice-production-covered-only-24-of-demand-minader-reveals
In 2020, Cameroon’s local production covered just 24.3% of its rice demand, according to figures published by the Ministry of Agriculture  (MINADER)....

Mags frontpage


Business in Cameroon n94: December 2020

The rise of Cameroon’s automotive industry


The «Made in Cameroon» war


Investir au Cameroun n104 Décembre 2020

L’émergence d’une industrie automobile camer


La bataille du « Made in Cameroon »