Cameroon has completed repayment of a CFA78.6 billion bond issued in 2023, leading to its removal from the Central African Stock Exchange. The bond, listed as “ECMR 5.8% Net 2023-2026,” reached maturity and was delisted from Bvmac on June 23, 2026.
The security represented the first tranche of a multi-tranche bond issue launched by the Cameroonian government in 2023. According to Bvmac documents, the tranche raised CFA78.6 billion from investors on the regional capital market.
Over the three-year life of the bond, investors received annual interest payments at a rate of 5.8 percent. Total interest costs reached about CFA4.5 billion, bringing the government’s total repayment to roughly CFA83.1 billion at maturity.
The successful repayment strengthens Cameroon’s credibility in the CEMAC regional capital market. The country has become one of the most active sovereign issuers in the region and continues to use bond financing to support public funding needs.
The 2023 bond transaction was significant because it allowed Cameroon to raise more than CFA176 billion on the unified CEMAC financial market. This amount exceeded the government’s initial target of CFA150 billion and demonstrated strong investor interest.
The operation was Cameroon’s seventh successful bond issuance on the regional market. It was also the first multi-tranche bond offering launched in the CEMAC zone, which includes Cameroon, Congo, Gabon, Equatorial Guinea, Chad and the Central African Republic.
The multi-tranche structure gave investors different maturity options, allowing them to choose securities based on their preferred investment horizon and return expectations. This approach helped attract broader participation in a more challenging financing environment.
Cameroon adopted this strategy at a time of higher interest rates and tighter monetary policy from the Bank of Central African States. By offering several maturities, the Treasury gave investors a choice between shorter-term securities with lower yields and longer-term bonds with higher returns.
Overall, the repayment and delisting of the CFA78.6 billion bond mark an important milestone for Cameroon’s public debt management. The transaction shows the country’s continued ability to mobilize funds from the regional capital market and meet its repayment obligations on schedule.
