Gabon and Cameroon seek to raise 200 billion FCFA

To balance his budget, the State has chosen the commercial bank Company to mount this public appeal to the savings which will be launched in October. In addition, Gabon counts on mobilizing 50 billion FCFA before the end of the year.

Cameroon will launch in October a debenture loan of 150 billion CFA francs. The visa of the Commission of the financial markets (CMF), the regulator national stock, constitutes the last step to take, according to a source close to the folder.

The commercial bank company (SCB Cameroon) was preferred to a consortium (general society, Afriland and Ecobank) to mount this public appeal to the savings.

The subsidiary of the Moroccan group Attijariwafa Bank had already arranged two similar operations the past year. One has enabled the mobilization in December of 80 billion CFA francs, while the State of Cameroon was seeking 50 billion CFA F to curl its budget.

She has also helped the Chadian State to borrow 85 billion F Cfa. Although the list of projects is not yet known, the next fund-raising of Cameroon fits in the context of the mobilization of 280 billion CFA francs in the form of treasury bonds provided for in the 2014 budget.

Elsewhere, in the same economic zone, Gabon is about to borrow 50 billion F CFA in launching on 24 September the first of the two issues of treasury bonds assimilable (OTA), provided for in its amending finance law passed in July, an operation that would aim to fund some road projects.