Cameroon successfully raised FCFA47.9 billion on the BEAC public securities market between January 8 and 12, 2024, according to data reported by the Treasury. The money was raised through fungible Treasury bills (BTA) with a maturity of 26 weeks, we learned.
Sources close to the operation revealed that the funds raised were used to repay a FCFA49.8 billion loan obtained on the same market 26 weeks earlier. With the amount already available, the Cameroonian Treasury will not need to tap much of its reserves to settle this debt with market investors.
Encouraged by the positive outcome of its recent fundraising on the BEAC securities market, despite a slightly increased average interest rate of 6.3%, Cameroon made a comeback on January 15, 2024. The country issued new 26-week BTAs targeting FCFA20 billion. The results are awaited.