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Cameroon 2022 bond loan: local investors subscribe for 196 billion FCFA (82% of the total)

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(Business in Cameroon) – According to the scores made by the consortium of arrangers and the Ministry of Finance, subscriptions for the 2022 bond issue of the State of Cameroon, which closed on May 25, 2022, with an envelope of 239 billion FCFA out of an initial need of 200 billion FCFA (the State will finally retain 235 billion after the over-allocation authorization requested from the regulator), come from nine countries.

These are first of all the six CEMAC countries (Cameroon, Congo, Gabon, CAR, Equatorial Guinea and Chad), whose investors have subscribed to this public call for savings to the tune of 238.4 billion FCFA. (99.83% of overall subscriptions). Then come France (4 million FCFA), Senegal (2 million FCFA) and Togo (400 million FCFA).

With regard to subscriptions from the CEMAC zone, the data compiled by the arrangers and the Ministry of Finance reveal that Cameroon owes the success of the 6th bond issue in the history of its public finances to its own investors. Indeed, they subscribed 82.1% of the overall envelope, which, in cash, corresponds to the sum of 196.2 billion FCFA.

330 natural persons

Next come Gabonese investors (22.5 billion FCFA, or 9.42% of the envelope), Chadians (7.5 billion FCFA, or 3.14% of the overall envelope), Congolese (7.2 billion FCFA, or 3%), and Equatorial Guineans (5 billion FCFA, or 2.09%). Central African investors, they only subscribed for the modest sum of 6 million FCFA, we learn.

The predominance of Cameroonian investments in the 2022 bond issue of the State of Cameroon, remunerated at 6.25% for a maturity of 7 years, including 2 years deferred, is far from being a surprise. Presented as the economic engine of the CEMAC zone, the country has the largest network of banks, microfinance and financial establishments, as well as the most diversified economic fabric in the sub-region.

As a result, the country is home to a large segment of investors, likely to participate in fundraising operations initiated by the States, like the one just closed by the Cameroonian Public Treasury. And which was also subscribed at 74.93% (179 billion FCFA) by 18 banks, 20.81% (49.7 billion FCFA) by 71 institutional investors, and 4.27% (13.2 billion FCFA). FCFA) by 330 natural persons.

Brice R. Mbodiam

Read also:

27-05-2022 – Cameroon completes its 2022-2029 bond loan with an envelope of 235 billion FCFA

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