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CEMAC: Cameroon to raise XAF160-180 bln on the BEAC debt market in Q1-2022

CEMAC: Cameroon to raise XAF160-180 bln on the BEAC debt market in Q1-2022
  • Comments   -   Tuesday, 11 January 2022 13:31

(Business in Cameroon) - The Cameroonian public treasury plans to raise between XAF160 and 180 billion from the Bank of Central African States (BEAC)’s debt market in the first quarter of this year. According to the provisional timetable published by Cameroon’s Ministry of Finance, the country will organize nine security issuance operations to try to reach the set target. 

Seven operations will be treasury bills issuance (maturing within 52 weeks) to raise XAF130 billion overall. Two operations will involve bond issuance maturing within three to five years. The country’s target is to raise between XAF30 to 50 billion through the issuance of those bonds. 

It should not be difficult for Cameroon -which became the second market maker in the BEAC market (after Gabon) after years of being the main market-maker- to reach the eyed target. Indeed, over the last ten years, Cameroon’s securities have always attracted investors due to the country’s solvency.  

According to data compiled by the Ministry of Finance, between November 2011 and November 2021, Cameroon repaid XAF2,998 billion out of the XAF3,306 billion it raised on the BEAC debt market without defaulting on a single deadline. This factor makes it a trustworthy country that can easily raise additional financing to manage state treasury needs (through the issuance of bills) and fund infrastructure projects (through the issuance of treasury bonds), explains Samuel Tela, director of Treasury at the General Treasury Directorate of the Ministry of Finance. 

Brice R. Mbodiam  

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