In 2023, Cameroon reaffirmed its commitment to honor its repayment dates on the public securities market of the Bank of Central African States (BEAC), by reimbursing a total amount of 712.2 billion FCFA. This amount, detailed in the latest BEAC activity report, includes both Treasury Bonds (BTA) and Treasury Bonds (OTA).
BTAs, short-term securities intended to solve one-time cash flow problems, represented an important part of these repayments, with 553.7 billion FCFA. This amount is equivalent to 28.3% of the BTA repayments made by all CEMAC countries. In terms of repayment, Cameroon surpasses its neighbors, Congo (545.7 billion FCFA), Gabon (452.3 billion FCFA) and Chad (248.2 billion FCFA).
Regarding OTAs, which are long-term securities intended to finance infrastructure projects, Cameroon paid back 158.4 billion FCFA in 2023. Although this amount is lower than the 261 billion FCFA paid back by the Congo and the 255.3 billion FCFA that was backed by Gabon, it still represents 17.7% of the repayments of this sector of securities on BEAC market.
In Yaoundé, the country’s compliance with financial commitments on the public securities market is a key factor in maintaining investor confidence. Since the introduction of this market in 2011, Cameroon has never recorded a payment forecast, allowing it to borrow at competitive interest rates. Before the rate increase in 2022, the country could borrow at less than 3% for BTAs and less than 7% for OTAs. Although rates have increased, Cameroon still offers the most favorable lending conditions in the sub-region, thus consolidating its leading position in the BEAC public securities market.
This strict financial control, in a context characterized by BEAC monetary policy tightening, reflects not only Cameroon’s financial credibility, but also its leading position in the capital market of the sub-region.
