Visionary Reports

Cameroonian business community have been called upon to rush for their share as bonds worth CFA 175 billion are currently available.

Gabonese minister of Economy and Recovery Madam Nicole Mbou on Wednesday June 2 in Douala, launched the sale of treasury bonds worth CFA 175 billion in Cameroon.  The sale of the bonds in Cameroon is in line with Gabon vast programme to accelerate the transformation of her economy and speed up development projects in Gabon.

The bonds that are on sale with code “EOG 6% Net 2021-2026” has an interest rate of 6 % yearly and will mature in Five years.  In technical terms, the number of obligation is 17.500.000, price of an obligation is CFA10.000, minimum subscription is 50 securities, authorisation is linear four years and one year deferral, maturity is five years.

  During the launching ceremony, Gabonese minister of Economy and Recovery, Madam Nicole Mbou explained that the Gabonese government decided to end the public offering campaign in Cameroon economic Capital of Douala because of the leadership role played by Cameroonian investors in the CEMAC Sub region.

 She disclosed that the EOG % Net 2021 hopes to mobilise CFA 175 billion and its reimbursement is fully ensured through the establishment of an escrow account opened for this purpose at BEAC. She added that the funds will help to support the different efforts to re-lunch their economy after COVID. “It will also be impacting not less than 300 small companies to major players in our economy”. Proceeds, she went on, will be used in infrastructural development, education and training, health sector just to name a few. She disclosed that the Gabonese ambition to revive the national economic activity  and restructure the economy was materialized  by the implementation of the Transformation Acceleration Plan (PAT) which  is based on  the state’s financing  capacity  as well as  the investment  and self-financing potential of the productive  private sector and public private partnership.

While presenting the project, Mr Ferdinand Ngoussi Director of Debts in the Gabonese Ministry of Economy and Recovery explained that the public debt strategy of the Gabonese state  for  the year 2021 is in line  with the desire to have total control of debt servicing . He revealed that the orientation is justified by the need to free up budget margins to support the financing of PAT of the Gabonese economy by maintaining public investment in the basic infrastructure at an appreciable level and by supporting the participation of local economic operators in economic growth in particular priority sectors. In effect, restoring the self-financing capacity of domestic companies is a major challenge to the rapid implementation of PAT.

BY GINA ESONG