Sale of Bonds: Cameroon Finance Minister Announces Huge Success

Rita Akana

Just some few months after launching the sale of bonds by the Cameroon government, the Minister of Finance Alamine Ousmane Mey has revealed that of the 150 billion initially expected by the State of Cameroon in 2014, 153 billion has been gotten from the exercise. The announcement was made during a press conference Minister Alamine Ousmane gave this Friday, December 26, 2014 at the Hilton Hotel in Yaoundé in the presence of the controversial government spokesman and Minister for Communication Issa Tchiroma Bakary.

Minister Alamine also indicated that banks and financial institutions operating in Cameroon alone mobilized the sum of 100 billion FCFA. The remaining 53 billion CFA francs came through other subscribers. It should be recalled that on December 16, Minister Alamine Ousmane Mey gave a detail analysis on the intended use of 150 billion sought by the State of Cameroon. As a reminder, the subscription period of the bond issue in 2014 ranged from 24 November to 23 December 2014.