Gabon launches €775 million bond program
Gabon has started promoting its new bond issuance program in local currency, in a bid to raise capital to accelerate the financing of infrastructure across the country.Gabon has started promoting its new bond issuance program in local currency, in a bid to raise capital to accelerate the financing of infrastructure across the country.
Minister of Economy, Employment and Sustainable Development Luc Oyoubi informed institutional investors resident in the Member States of the Economic Community of Central Africa (CEMAC) states that the Gabonese government has planned to mobilise borrowing resources of a total of Fcfa508.7 billion (€ 775 million), the Gabonese Press Agency reports.
Bonds will be issued on the Stock Exchange of Central Africa (BVMAC) in four fundraising campaigns spread between July 15th and
"The resources that the
state intends to raise essentially aim to ensure the funding of its structuring investments, particularly in the areas of infrastructure, airport modernisation, energy production, ICT and other sectors supporting production," said
He added that the government is seeking to offer new investment capabilities to institutional investors and to promote the emergence of an efficient financial market, which would provide adequate financing for the private sector.