Cemac: Cameroon, Congo and Gabon storm the government securities market

Operations in the treasury securities market of the Economic and Monetary Community of Central Africa (CEMAC) will be particularly animated from January 10 to 14, 2022 through issues of Assimilable Treasury Bonds (BTA) where Cameroon, Congo and Gabon globally intend to mobilize CFAF 175 billion ($ 302 million) on the market of the Bank of Central African States (BEAC).

In detail, Cameroon, through the Domestic Syndication Issue (ESD), plans to mobilize 150 billion FCFA ($ 259 million) from BTA. With a maturity of 26 weeks for an interest rate of 2.75%, this operation, the minimum share of which is FCFA 20,000, should allow the country to raise additional resources for the management of the cash flow of the State in accordance with the 2022 finance law which provides for the issuance of public securities for a total amount of CFAF 350 billion, or $ 605 million.

Congo uses the sub-region’s public securities market for an amount of CFAF 10 billion ($ 17 million) through the issuance of BTAs with a maturity of 13 weeks with a view to ensuring the financing of development projects provided for in the state budget. For its part, Gabon will seek the contribution of CEMAC savings through the issue of BTA of 15 billion FCFA ($ 26 million) intended to support the economic development program in accordance with the law of finances 2022.

According to the weekly dashboard published by the Central Bank, the three countries will concurrently reimburse the BTAs for CFAF 29 billion ($ 50 million), or respectively nearly CFAF 14.6 billion for Cameroon, 6, 8 billion FCFA for Congo and 7.5 billion FCFA for Gabon.

The other CEMAC countries, in this case, the Central African Republic, Equatorial Guinea and Chad are absent from the government securities market.

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