Cameroon is considering launching a new public offering in 2026, aiming to raise between 100 and 150 billion FCFA. The announcement was made on February 19, 2026, in Douala, during the presentation to investors of the state's financing plan for the current year.
According to the Minister of Finance, Louis Paul Motazé, the final decision regarding this bond issue on the Central African Securities Exchange (Bvmac) will depend on the results of a market survey. "I have also been informed that a market survey is being considered to assess the opportunity for a return to the domestic financial market," he stated.
In other words, Cameroon will only proceed with this fundraising on the Bvmac if potential arrangers guarantee the mobilization of the requested funds at acceptable interest rates. If market conditions are not favorable, the Public Treasury may turn to other financial instruments.
In 2024, the government preferred an operation combining the repurchase of securities and new borrowing on the BEAC securities market, for an amount of 260 billion FCFA, rather than launching a public offering. This strategy allowed Cameroon to obtain new financing while extending the repayment date of certain loans.
If this bond issue materializes in 2026, it would be the eighth operation of this type for Cameroon on the Bvmac. The last one dates back to 2023, when the public offering, initially planned for 200 billion FCFA, was reduced to 150 billion FCFA due to difficult market conditions. Despite this, the Cameroonian Treasury managed to mobilize 176.7 billion FCFA through a multi-rate borrowing strategy.
Although absent from the Cemac unified financial market since 2023, Cameroon remains a major player in the Bvmac. Since 2010, the country has raised 1206.2 billion FCFA on this market, positioning itself as the second-largest sovereign issuer behind Gabon.
In February 2025, Treasury Director Samuel Tela indicated that the State had raised 8,646 billion FCFA on the capital markets since 2010. The Bvmac, based in Douala, is the unified financial market for the Cemac countries.
