By September 30, 2024, CEMAC countries had raised CFA6.91 trillion in the BEAC public securities market, marking a 14.7% increase from the previous year. BEAC’s latest Economic and Statistical Bulletin, released on February 20, 2025, reveals that over CFA4.67 trillion of this came from short-term Treasury bills (BTA).

The most popular among these were the 26-week BTA, which accounted for CFA1.55 trillion, or 56.2% of the total BTA issuances. In comparison, governments secured CFA2.24 trillion through longer-term Treasury bonds (OTA), typically used for funding infrastructure and development projects.

The overwhelming reliance on short-term debt indicates ongoing cash flow challenges. BTA are primarily issued to cover immediate costs like salaries, debt repayments, or other urgent expenses, while OTA are intended for long-term investments.

Cameroon, along with Congo and Gabon, was one of the top issuers in the region. The country’s Finance Ministry reports it raised CFA1.15 trillion in 2024 from the BEAC market, a 20.4% increase from the previous year. The bulk of this funding came from BTA, which accounted for over three times the amount raised through OTA.

“We were very active in various segments, issuing a total of 65 securities—49 Treasury bills totaling CFA868.9 billion. On the bond side, we issued 16 securities with maturities ranging from two to ten years, raising CFA285.03 billion,” stated Finance Minister Louis Paul Motazé on February 13, 2025, in Douala, where he presented the government’s 2025 financing plan to investors.

Source: Business in Cameroon