Cameroon seeks FCFA 7 bln on BEAC’s public stock market

The Cameroonian public Treasury will issue, on June 8, 2016, at the headquarters of the Central African States Bank (BEAC) in Yaoundé, government bonds (BTA), worth FCFA 7 billion, we learn in an official communiqué signed by the Managing Director of the Treasury, Sylvester Moh.

These debt securities with a maturity of 26 weeks, whose interests are exempt from withholding tax, can be bought until June 8 at 9am from the 16 banks in the CEMAC zone recruited by the Ministry of Finance, and acting as primary dealers (SVT) on behalf of the Cameroonian State.

By increasing the number of primary dealers from 13 to 16 since the beginning of this year, Cameroon is giving itself more room to successfully complete all its operations on the BEAC market in 2016, despite the competition from the Gabonese and Chadian Treasuries, two countries who have become very active on this public stock market consecutive to the drop in their oil revenues.

As a reminder, during the current second quarter 2016, the Cameroonian Treasury will try to raise a global sum of between FCfa 62 and 72 billion. This represents FCFA 42 billion to be raised through the issuance of BTA, and FCfa 20 to 30 billion through two issuances of fungible Treasury bonds (OTA) with a maturity of 2 to 3 years, for FCfa 10 to 15 billion per operation.