(Business in Cameroon) – On September 22, 2021, after several weeks of rest, Cameroon will be back on the CEMAC debt market to try to raise 25 billion FCFA, reveals the central bank BEAC in a press release.
To carry out this umpteenth operation, the country will issue 26-week Treasury bills based on its network of primary dealers, which currently consists of 19 banks operating throughout the CEMAC sub-region.
This operation included, the volume of funds raised by the country on the regional money market will reach this year 256 billion XAF (at the beginning of September 2021, the general manager of the treasury Sylvester Moh estimated the volume raised at 231 billion XAFXAF) out of the 350 billion XAF authorized by the 2021 finance law.
As has been the case since the launch of the BEAC securities market in 2011, this operation will likely be a success as the country’s government securities are appreciated by investors in the market. On the market, its operations are almost always fully subscribed, particularly with regard to Treasury bills, which it plans to issue during the September 22 transaction.
“Investors are attracted to Cameroonian government securities. This is demonstrated by the coverage rate of the different emissions. This rate is generally on average 120%, which means that 120 are offered for 100 that we are looking for ”, Sylvester Moh said.