Cameroon is considering launching a new public offering in 2026, aiming to raise between 100 and 150 billion FCFA on the Central African Stock Exchange (BVMAC). This decision, announced on February 19, 2026, in Douala by the Minister of Finance, Louis Paul Motazé, during the presentation of the State's financing plan for the current year, remains conditional on a market survey.
According to the Minister, the realization of this bond issue will depend on liquidity conditions and investor appetite. In other words, the operation will only be effective if potential arrangers guarantee the mobilization of the requested funds at acceptable interest rates.
In the event of unfavorable market conditions, the Public Treasury could turn to other financial instruments. In 2024, for example, the government preferred an operation combining the repurchase of securities and new borrowings on the BEAC securities market, thus mobilizing 260 billion FCFA. This strategy made it possible to obtain new financing and extend the repayment date of certain loans.
If Cameroon realizes this borrowing on the BVMAC, it will be its 8th operation of this type. The last one dates back to 2023, when the public offering was reduced from 200 to 150 billion FCFA due to difficult market conditions. The Cameroonian Treasury then experimented with a multiple-rate loan, finally mobilizing 176.7 billion FCFA after overallotment.
Despite its recent absence from the unified financial market of the CEMAC, Cameroon remains a major player, ranking as the 2nd largest sovereign issuer on the BVMAC behind Gabon, with 1206.2 billion FCFA raised since 2010. In addition, Cameroon is exploring other financing avenues, including negotiating guarantees from the AfDB and ATIDI to raise 585 billion FCFA internationally. The country also carried out a private bond issue of $750 million in London on January 30, 2026.
