Cameroon to issue 50 billion CFA in bonds

Cameroon's government will issue 50 billion CFA francs in bonds by the end of the year to fund infrastructure projects, Finance Minister Lazarre Essimi Menye told reporters on Wednesday.

He said the bonds will be issued in four installments, including 10 billion CFA francs on November 17 for 13 weeks, 10 billion CFA francs on December 1 for 26 weeks, 15 billion CFA francs on December 8 for 13 weeks, and 15 billion CFA francs on December 15 for 26 weeks.

The bond issues are part of a move by the Central African nation to fund a slew of infrastructure projects, including a deepsea port, hydroelectric dams, water distribution pipelines and road improvements, he said.

The Bank of Central African States (BEAC) will manage the auctions.

 

Credits: Reuters Africa

 

This article was originally posted on Sustainable Development Africa Platform

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