Investors' appetite for Cameroon's debt is confirmed
The country's latest bond has once again been successful.The latest bond of Cameroon, initially launched to raise an amount of 150 billion CFA francs (€229 million), saw subscriptions reach 173.145 billion CFA francs.
Issued on September 20, the bond was successful, with a subscription rate of 115.43 per cent, the Ecofin agency reports.
The government announced that the money raised will be allocated to major investment projects in the areas of transport, water supply and electrification.
Cameroon once again proved its attractiveness to investors. In July, the country issued a bond on the government securities market of the Bank of Central African States' (BEAC), which raised 16.5 billion CFA francs, despite the government only seeking seven billion CFA francs, representing a subscription rate of 235 per cent.
The Western and Central African regions are seeing a recovery in the field of sovereign bonds. Benin has in particular managed to raise 202 billion CFA francs on the regional market in July, and is to repeat the experience before the end of the year.