Cameroon issues new bond
Cameroon issued a new bond last Monday on the domestic financial market to raise CFAF50 billion (€76.2 million).Cameroon
issued a new bond last Monday on the domestic financial market to raise CFAF50 billion (€76.2 million).
The subscription period for this public offering - dubbed "ECMR 5.9% net 2013-2018" - will end on December 23rd, Cameroon Tribune reports.
Cameroon has issued CFAF250 billion (€381.1 million) worth of bonds on the market of the Central Bank of CEMAC States (BEAC) in 2013.
In 2010, Cameroon had already launched a bond that helped mobilise CFAF200 billion on the Douala Stock Exchange (DSX).
It is hoped the bond debt will contribute to
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 agency.