Cameroon began 2026 with renewed investor interest in its Treasury bills. According to the report on the "Monthly Statistics of the Cemac Treasury Securities Market" published by the BEAC, the average subscription rate for Treasury bills (BTA) issued by Cameroon reached 84.84% in January 2026.
This indicator marks a 25.7% increase compared to December 2025, when it stood at 59.07%. This rebound is all the more notable as it comes after a period of declining demand and interest rate pressures. Indeed, Cameroon has undertaken to raise 1,165 billion FCFA on the regional public securities market in 2026.
In January 2026, the states of the sub-region mobilized an average of just over 69 billion FCFA for 100 billion FCFA sought through BTA issues, while investors offered nearly 85 billion FCFA to Cameroon. This differential reflects a renewed interest in the Cameroonian sovereign signature on the short-term securities segment.
In parallel with this development, the cost of financing has fallen slightly. The average interest rate demanded by investors on Cameroonian BTAs fell to 6.87% in January 2026, compared to 7.11% in December 2025, a decrease of 24 basis points over one month. This decrease comes after several years of continuous increase in yields on short-term securities, in a context of increased competition between Cemac states and high financing needs.
This simultaneous improvement in the subscription rate and the slight easing of yields is a positive signal for the Cameroonian Treasury. In a context of persistent budgetary pressures, this development could help stabilize the cost of domestic short-term financing. Cameroon plans to issue a new bond issue of 150 billion FCFA on the Central African Securities Exchange (Bvmac) in 2026.
