Cameroon: 5th government bond issuance closed at over CFA200bn

The 2018-23 bond issuance by the Cameroonian government of CFA150 billion with a 5.6% interest rate on the Douala Stock Exchange successfully closed November 9 at two weeks of subscription, we learnt.

The fundraising operation was oversubscribed, just as the past four bond issuances, since the final amount exceeds CFA200 billion. Sources said the exact amount is CFA206 billion, thus CFA56 million more than the money expected.

 

This not only showed investors’ interest in Cameroonian securities but also the credibility of the country on this financial market. The success of this new public offering was all the more predictable given that even before the opening of subscriptions on 26 October 2018, the three operation arrangers and the underwriting syndicate had already guaranteed underwritings for CFA121.5 billion.

 

Sources at the ministry of finance suggest that given the current financial needs facing the country, the government could submit an over-allocation request to the financial markets commission (CMF), the regulator of the Douala Stock Exchange. This approach would enable the Treasury to benefit from all or part of the additional CFA56 billion.

 

Let’s recall that this public offering, according to the information note produced by the government and the arrangers, will make it possible to finance some 40 ongoing infrastructure projects in the country, mainly those related to the organization of the African Cup of Nations (AFCON) which Cameroon will host between June and July 2019.


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Nos Partenaires

Chambre d'Agriculture, des Pêches, de l'Elevage et des Forêts du Cameroun (CAPEF)
Chambre de Commerce et d'Industrie du Bénin
Chambre de Commerce et d'Industrie de Cote-d'Ivoire
Chambre de Commerce et d'Industrie du Burkina-Faso;
Chambre de Métiers et de l'Artisanat de la Vendée
International Chamber of Commerce
La Bourse de Sous-Traitance et de Partenariat du Cameroun (BSTP-CMR)
Agence de Promotion des Investissements (API)
Le Fonds National de l’Emploi (FNE)
Agence des Normes et de la Qualité du Cameroun (ANOR)
Institut National de la Statistique du Cameroun (INS)
L'Agence de Régulation des Marchés Publics (ARMP)
Le Douala Stock Exchange
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GROUPEMENT INTER-PATRONAL DU CAMEROUN
Organisation Internationale de la Francophonie (OIF)
Conférence Permanente des Chambres Consulaires Africaines et Francophones
L'Institut international de recherche sur les cultures des zones tropicales semi-arides (ICRISAT)
Agence Française de Développement (AFD)
Organisation Mondiale du Commerce(OMC);
Centre de Commerce International (ITC)
Programme des Nations-Unies pour le Développement au Cameroun (PNUD)
Organisation des Nations Unies pour le Développement Industriel (ONUDI)
L'Agence des États-Unis pour le développement international (United States Agency for International Development ou USAID)
Export-Import Bank of the United States
Banque Mondiale
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Cameroon On Business