CAMTEL to raise funds through its mobile licence

David Nkotto Emane, the DG of Cameroon Telecommunications (Camtel), the public operator of telecommunications in the country, said that "availability" of the mobile licence finally issued to the firm, September 26, 2014, will allow Camtel "raise funds.

Indeed, the incumbent operator of telecommunications in Cameroon, whose financial health is not the most shiny according to internal sources at the company, plans to launch its mobile phone subsidiary (Cameroon Mobile telecommunications) as early as 2015, at the end of 'at least six months' of work and preliminary formalities. But to do this, it will be necessary to raise funds to invest.

In order to solve this equation, David Nkotto Emane suggested that the company, which already enjoys major grants from the State, will pick up the necessary funds on the capital market.

From this point of view, Camtel figures on the list of companies in Bloomfield Investment Corporation, a pan-African financial rating agency specialized in the assessment of the credit risk of companies and institutions, which is head quartered in Abidjan, in Côte d'Ivoire, and which has opened an office in Douala, the economic capital of Cameroon.

As a reminder, through a workshop held in Yaoundé in December 2013, Camtel, with three other Cameroonian public enterprises, had been encouraged by the Ministry of finance to seek the financial ratings to assess credit risk, prior to raise funds on the capital market.