Equatorial Guinea is first subscriber to Cameroon’s Fundraising

According to a report by the Directorate General of the Treasury (DGTC) on the 2013-2018 bond issued by Cameroon in December 2013, and for which 80 billion FCfa was raised in two weeks, 12.3% of the subscriptions are from Equatorial-Guinean investors. Equatorial Guinea is the first country to have answered Cameroon’s call for fundraising.

The DGTC also indicates that other nations have subscribed, including Congo (1.8%), Gabon (1.2%) and Cote d’Ivoire (0.01%), used only their piggy bank for the Cameroon Treasury Department in this operation as their cumulative subscriptions only represent 3% of the participations received. This contrasts with the over 84% received from Cameroonian investors and the 12.3% for Equatorial Guinea.

The breakdown of subscriber types reveals that “648 entities have participated in this operation, making up 90% of the individuals that have obtained a 13.1%-share of the securities.” Essentially, although they are more numerous, individuals were unable to overtake corporate subscriptions which reached 86.9% of the total amount.

The 2013-2018 bond, the second in the history of Cameroonian public finance after the 2010 exercise, was introduced on the Douala Stock Exchange (DSX) in January 2014, enabling the Cameroonian exchange market to list a new bond offering.

Copyright Business in Cameroon 2014