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Cameroon completes new CFAF 25 billion fundraising operation on the money market, with an average rate of 2.7%

Cameroon completes new CFAF 25 billion fundraising operation on the money market, with an average rate of 2.7%
  • Comments   -   Monday, 29 June 2020 15:41

(Business in Cameroon) - After closing its medium and long-term securities issuance programme on June 17, 2020, with a total envelope of CFAF 219 billion, Cameroon returned to the money market last June 24 to issue short-term securities, official sources indicate.

During this operation, the country issued 26-week assimilable treasury bills (T-bills) seeking CFAF25 billion from investors. These investors transferred their savings to Cameroon at a weighted average interest rate of 2.7%, the Ministry of Finance points out.

A few days ago, Moh Sylvester, the Director-General of the Treasury at the Ministry of Finance, was praising Cameroon's performance on the Beac's public securities market. "Cameroon is currently the only sub-Saharan country which is still getting short term financing with interest rates below 3% and less than 7% for long-term financing," he said. 

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