Cameroon to issue €381 million bond debt
Cameroon will issue 250 billion CFA francs (€381.1 million) worth of bonds on the market of the Central Bank of CEMAC States (BEAC) in 2013.Cameroon will issue 250 billion CFA francs (€381.1 million) worth of bonds on the market of the Central Bank of CEMAC States (BEAC) in 2013.
According to Ecofin news agency, which obtained a copy of the operations schedule made available to the BEAC, CFAF 100 billion will be issued as treasury bills and 150 billion CFA will be issued as treasury bonds.
In 2010, Cameroon had already launched a bond that helped mobilise 200 billion CFA francs on the Douala Stock Exchange (DSX).
It is hoped the bond debt will contribute to finance large investment programmes, such as port or energy infrastructure projects.
The objective is also to diversify financing sources for the national economy through the financial markets.
"We want to reach to consumers and private enterprises, away from institutional sources," Finance Minister Alamine Ousmane Mey told Xinhua news a few months ago.