Gabon launches 50b FCFA on CMR financial market

Gabon, for its financing needs, has just issued two Treasury bonds assimilable (OTA) for a total amount of 50 billion CFA francs on the Cameroonian market, in the framework of its interventions on the market of government securities to free subscription of the Economic and Monetary Community of Central Africa (CEMAC).

The mobilization of such borrowings, will be on the period from August-December 2014 with a first emission on September 24. In order to carry out this operation, the country has approved 5 local banking institutions in Treasury securities of the Gabonese State, to whom the institutional investors, businesses, and individuals can acquire securities.

The resources thus collected on the market of the CEMAC will be intended for the payment appropriations of the road projects of the schematic national director of infrastructure (SDNI) 2012-2016 enrolled in the Finance Act 2014.