Business

CEMAC: Cameroon, Chad and Gabon will try to mobilize between 39 and 44 billion CFA francs in the BEAC market on 7 June

Cameroon, Chad and Gabon will try to mobilize between 39 and 44 billion CFA francs in the BEAC market on 7 June
Written by Deckson N.

The Cameroonian Ministry of Finance announces that the government is returning to the public securities market of the Central Bank of Cemac States on 7 June 2017 to mobilize a total of 5 billion CFA francs. This new transaction will be made by issuing Treasury Bonds (TB) with a maturity of 26 weeks.

The Cameroon BTA will compete with those of the Gabonese and Chadian Public Treasuries, who will also carry out fund raising operations that same day in the same market.

Gabon, through a 13-week maturity BTA issue, will try to mobilize 9 billion CFA francs, according to an official statement from the BEAC.

The Republic of Chad, meanwhile, will try to raise a global envelope between 25 and 30 billion CFA francs, by means of an issue of assimilable treasury bonds (ATB) with a maturity of 2 years. For this operation, the Chadian government will serve an interest rate of 4.5% to subscribers.

According to BEAC statistics, since the launch of the government securities market in November 2011, the Cemac states have already mobilized nearly 4,000 billion CFA francs. This market for securities has become more dynamic since 2015, with the treasury difficulties faced by the six Cemac states, due to the decline in world crude oil prices, which is the main source of revenue for at least four (Gabon, Chad, Congo, Equatorial Guinea) of the six countries in this Community area.

Facebook Comments

About the author

Deckson N.

Please wait...

Subscribe to our site and be Informed!

Want to be notified when our article is published? Enter your email address and name below to be the first to know.