Cameroon’s Public Treasury will proceeds, on August 12, 2020, with a new issue of Assimilable Treasury Bonds (BTA) on the public securities market of BEAC, the issuing institution of the six Cemac countries (Cameroon, Congo, Gabon, Chad, RCA and Equatorial Guinea).
The operation, which aims to mobilize a funding envelope of CFAF 30 billion, will be carried out through securities with 26 weeks maturity. This is the second fundraising operation Cameroon is attempting on the money market in the space of a week, since the country succeeded in mobilizing 15 billion FCFA on this same market on August 5, through a BTA issue at 52 weeks.
As was already the case on August 5, 2020, the Cameroonian Treasury has entered the money market on August 12 with Gabon, also trying to raise 12 billion FCFA, through a 26-week BTA issue. This makes a global envelope of 42 billion FCFA for the two countries, which have been the main promoters of the CEMAC money market since its launch in 2011.
As a reminder, since the drop in world crude prices in 2015, as well as the resulting public deficits in the CEMAC oil-producing countries, the money market has become an important source of financing for the States.
For example, according to official statistics, during the year 2019, these countries managed to mobilize a record budget of CFAF 2,846.3 billion in this market. At the end of August 2018, this total envelope peaked at only 1349.7 billion FCFA.
