Home » Economy and Finance
CEMAC: Cameroon Records Brilliant Success in Bid to raise XAF30 billion via Treasury Bonds
Category :- Economy and Finance Author :- L J KINGAH 
Posted on December 17, 2020, 12:47 pm
(0 Rating)

Results show that Cameroon has recorded a brilliant success in its bid to raise XAF30 billion through the issuance of 5-year treasury bonds backed by a 5.5% interest rate.

These are results of the fundraising operation carried out by Cameroon on the CEMAC money market on December 9th, 2020 as published by the Bank of Central African States - BEAC.

Cameroon and Money Market

Since investors offered up to XAF31.2 billion but the country chose to keep just XAF30 billion, the operation ended with a 104% subscription rate, the official statement issued by the Ministry of Finance reveals.  

Though the subscription rate of that operation was just 22.4%, Gabon issued a 3-year treasury bond, backed by a 5.75% interest rate on the same day of December 9th as Cameroon. Investors offered just XAF6.7 billion out of the XAF30 billion the country requested.

Money market

Going by the 2021 finance law and with the difference in performance between Gabon and Cameroon, the country is now planning that on money market by 2021 on , it will raise up to XAF350 billion.

Cameroon-Money and EConomy

According to the Macroeconomic performance and outlook under Tailwinds and headwinds “Cameroon plays a central role in the Economic and Monetary Community of Central Africa (CEMAC), holding nearly 40% of its money supply. Over 2014–17, its share of total intracommunity trade amounted to 24.7%, aided by the relative diversification of its econ- omy and the existence of road corridors with all CEMAC countries as well as Nigeria.”

Gabon and money market

It added that, “The country’s ratification of the African Continental Free Trade Agreement in June 2019 continues in this vein. The merger in 2020 of two stock exchanges (Cameroon and Gabon) is expected to lead to further financial integration in the CEMAC area.”

Rate this article   
Tagged Keywords: Money market, Gabon, Cameroon, BEAC, CEMAC
Cameroon: Camrail Blames Delay Traffic Flows, Accidents on Railways Residents’ Discourtesy
Posting a truck trailer crossing the railway track at a spot....
Page Views: 15
Anglophone Crisis: Ndu DO Seals Shops over Traders Strict Respect for Ghost Town
Like the late mayor of Buea, Ekema Patrick and his successor....
Page Views: 130
Ghana: Operators of Baby-harvesting syndicate' Apprehended
Following months of investigations during which two babies w....
Page Views: 157
ENEO Reveals Cost of Guider, Maroua Solar Power Plants
Cameroon electric utility, ENEO in its recently published 20....
Page Views: 68
Iraq: Over 20 Killed, 40 Wounded in suicide bombings in Baghdad
At least 20 people have been killed and over 40 wounded in a....
Page Views: 59
___________________ ___________________