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Cameroon completes new CFAF 25 billion fundraising operation on the money market.
Cameroon completes new CFAF 25 billion fundraising operation on the money market.
After closing its medium and long-term securities issuance programme on June 17, 2020, with a total envelope of CFAF 219 billion, Cameroon returned to the money market last June 24 to issue short-term securities, official sources indicate.
During this operation, the country issued 26-week assimilable treasury bills (T-bills) seeking CFAF25 billion from investors. These investors transferred their savings to Cameroon at a weighted average interest rate of 2.7%, the Ministry of Finance points out.
A few days ago, Moh Sylvester, the Director-General of the Treasury at the Ministry of Finance, was praising Cameroon’s performance on the Beac’s public securities market. “Cameroon is currently the only sub-Saharan country which is still getting short term financing with interest rates below 3% and less than 7% for long-term financing,” he said.
Culledf from Business in Cameroon.