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Cameroon – Finance: Cameroon and Gabon to try to raise CFAF 14 billion this May 24 in the BEAC market

Cameroon and Gabon to try to raise CFAF 14 billion on May 24 in the BEAC market
Written by Deckson N.

On 24 May 2017, the Governments of Cameroon and Gabon, the two largest players in the public securities market of the Bank of Central African States (BEAC), are issuing government securities totaling € 14 billion Of CFA francs, officials said.

By means of an issue of Assimilable Treasury bills (ATB), with a maturity of 26 weeks, the Treasury of Cameroon will try to mobilize 5 billion CFA francs, while Gabon is launching on the market with Public securities with similar characteristics, for a total of 9 billion CFA francs.

On 10 May, these two countries in the Cemac zone had already been on the same market, and the favors of the subscribers had gone to the benefit of Cameroon, whose subscription rate had reached 266%, against 97 % For Gabon. The country was then able to mobilize only a little more than 6 billion CFA francs out of the 8.5 billion CFA francs requested, moreover, with an interest rate of more than 5%, against 2.9 % for Cameroon.

Launched in 2011, thanks to the first issues of government securities in Cameroon, the BEAC securities market has been full since last year, with the first operations of Equatorial Guinea and Congo, which remained the only countries in the Cemac not to carry out operations alongside Cameroon, Gabon, Chad and the Central African Republic.

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Deckson N.

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