Cameroon Closes Out CFA78.6 Billion Bond With CFA4.5 Billion Interest Payment

A bond issued by the Cameroonian government in 2023 will be removed from the Central African Stock Exchange (Bvmac) on June 23, 2026, after reaching maturity and being fully repaid.

In an official statement, Bvmac said the bond, known as “ECMR 5.8% Net 2023-2026,” will be delisted from the regional exchange following its maturity date. The security represented the first tranche of a multi-tranche bond issue launched by Cameroon in 2023. According to Bvmac documents reviewed by Business in Cameroon, the tranche raised CFA78.6 billion.

Over the three-year life of the bond, investors also received annual interest payments of 5.8%, bringing total interest costs to about CFA4.5 billion. As a result, the government repaid a total of roughly CFA83.1 billion at maturity. The successful repayment further strengthens Cameroon’s credibility in the CEMAC regional capital market, where the country has become one of the most active sovereign issuers.

A Landmark Bond Issue in the CEMAC Region

The 2023 transaction allowed Cameroon to raise more than CFA176 billion on the unified CEMAC financial market, exceeding its initial target of CFA150 billion. It was the country’s seventh successful bond issuance on the regional market and the first multi-tranche bond offering ever launched in the CEMAC zone, which includes Cameroon, Congo, Gabon, Equatorial Guinea, Chad and the Central African Republic.

The structure offered investors a choice of maturities, allowing them to select investment horizons that matched their risk and return expectations. According to the government, the strategy responded to a more challenging financing environment marked by higher interest rates and tighter monetary policy from the Bank of Central African States (BEAC).

By offering several maturities, the Treasury gave investors the option of shorter-term securities with lower yields or longer-term bonds offering higher returns.

The approach helped broaden investor participation and contributed to the strong demand that enabled Cameroon to surpass its fundraising target.

BRM