Saturday, 13 August 2016

Cameroon raised FCfa 7 billion on the BEAC market, with an average interest rate lower than 2%

The Cameroonian Public Treasury again issued, on 10 August on the public stock market of the Bank of Central African States (BEAC), fungible treasury bonds with a 13-weeks maturity. According to the communiqué made public at the end of this operation, this issuance of public stocks, as has been the case for several months, was over-subscribed.

Indeed, the coverage rate of the demand was close to 293%, investors proposing to the Cameroonian Treasury FCfa 20.5 billion over the FCfa 7 billion requested. But the most interesting part in this operation is the average interest rate, which was lower than 2%. In the past, the average rates given to the Cameroonian Treasury always exceeded 2%.

This particularly of the 10 August operation shows a stronger confidence from the investors operating on this market in Cameroon. Indeed, with the oil crisis the CEMAC countries are currently facing, Cameroon, according to the IMF, is the only country out of the six in this community, which shows a resilience to this phenomenon, due in part to a more diversified economy.

Source: Business in Cameroon 

1 comment:

  1. If only the money can be put to great use. I mean whats the point when it will end up being embezzled.