Treasury records higher performance on BEAC market in August

After its first transmission of operation in treasury bonds (OTA) onto the Bank of Central African States (BEAC) market on August 6, 2014, the Cameroonian Treasury got a subscription rate of 191.55%.

According to a statement issued to this effect by the central bank, investors have proposed 19.155 billion CFA francs, while the Treasury Department needed only a budget of between 5 and 10 billion CFA francs.

Compared to the previous year this is the biggest performance over the obligations of the Treasury on the Cameroonian government securities market of BEAC, since for the first time, the lower and upper limits of the requested budget by State were exceeded.

In fact, during the first operation of its kind in the same market in June 5, 2013, for a cover between 10 and 20 billion CFA francs, only 17.5 billion CFA francs had been proposed by investors.

On 4 September 2013, the second operation had been recording subscriptions for a total of 8 billion CFA francs on an application between 5 and 10 billion CFA francs expressed.

In both cases, even if the lower bounds of the claims had been exceeded, sales were still below the upper limit.

On August 6, the Cameroonian Treasury had reached this point, confirming, the credibility of the State of Cameroon to investors.

According to the Ministry of Finance, the 10 billion collected on the overall framework proposed, was at 3.75% rate (against 4% for the two previous operations) for a period of 2 years, and will be used for the implementation of three projects: the partial financing of the construction of the highway Nsimalen (3.7 billion CFA francs), the eastern road penetrating the Cameroonian capital (3 billion CFA francs) and the improvement of the Shell Nsimeyong Biyem-Assi road (3.3 billion CFA francs).