Cameroon to mobilize CFAF 750 billion on the international market

Paul Biya has authorized the Minister of finance, Alamine Ousmane Mey, to issue a bond of 750 billion Cfa Francs on the international market for the year 2015.

The decree by the head of state was made public on Tuesday, July 21, 2015.

In addition to the refinancing of the National Refining Company (SONARA), part of the money will be used for financing projects cited in the three-year plan drafted in December, 2014 at a Council of Ministers which the president was part of.

This is the first time Cameroon, which initiates operations of public savings internally and on the market in the sub-region since 2010, is committed to a bond outside the continent. This operation is aimed at America, Asia and European investments, according to analyses.