By Ndumbe Bell Joseph Gaston in Douala
The Central African Stock Exchange (BVMAC) has raised bonds issued by the State of Gabon coined as “EOG
multi-tranche 2024-2030”. The bonds which amounted to over FCFA 80 billion to mature in 2030, contained
three maturity periods of 3, 4 and 6 years with three annual interest rates of 6.06 per cent, 6.75 per cent and
7.75 per cent respectively. This package was raised within November 27, 2024 to February 15, 2025.
In his keynote address, the CEO, Louis Banga Ntolo, in the absence of the Board Chair of the Stock Market
(Henri-Claude Oyima) who is also the Gabonese Economy and Finance Minister whom he represented and in
the presence of Brokers, intermediaries called arrangers, the Littoral Governor, Ivaha Deboua, public and
private business leaders, bankers and investors, he described the transaction which took place at their
headquarters last May 30, as a major breakthrough for the State of Gabon, the Stock Exchange and the
arrangers.
The CEO described extensively how all the steps taken were followed according to the text, before being
authorised by the regulator COSUMAF. He said the Gabonese example is one that demonstrates the functions
of the regional Stock market as the major provider of financing and liquidity to States and public and private
entities of good standing in the region. Banga Ntolo has always encouraged investors by asking those who
cannot buy or sell stocks directly to meet the criteria to buy from others because he said being quoted in the
stock exchange provides liquidity for those who connect.
According to the Stock Exchange reports, Gabon has a debt package of FCFA 686 billion out of a total debt of
FCFA 1491 billion which is 46 per cent of the bonds market awaiting redemption. Louis Banga Ntolo lavished
praises on Building Emerging Markets Securities (BEMS) for their principal role played as an arranger for so
short a period. The CEO added that the amount raised contributes to 16.5 per cent of Gabon’s 2025 national
budget.
The Board Chair of Building Emerging Markets Securities (BEMS) was prided for listing 51.10 per cent of
subscriptions of FCFA 80 billion plus(80.065.760.000), followed by other co-arrangers such as FEDHEN
CAPITAL 18.73 per cent, and AFRILAND Bourse And Investment 16.93 per cent, amounting to 87 per cent
listings from these three alone.
Mr. Bertrand remarked that to have realised FCFA 65.750.000 over the actual amount of FCFA 80 billion
targeted, it demonstrated the overriding success of the operation. He also added that over 70 per cent of
listings were attracted to the medium-term interest rate of four years of maturity with an interest rate of 6.75
per cent. Gabon will spend this amount on public projects such as infrastructural projects and other projects
for the alleviation of poverty.