As of September 30, 2024, the six CEMAC countries (Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic) mobilized a total of 6,914.5 billion FCFA (+14.7% year-over-year) on the public securities market of the Bank of Central African States (BEAC). Of this amount, over 4,670 billion FCFA were raised through the issuance of Treasury bills. According to the BEAC's "Economic and Statistical Bulletin" published on February 20, 2025, 26-week Treasury bills were the most popular, with a total issuance of 1,551.5 billion FCFA, representing 56.2% of total Treasury bill issuances during the period. Treasury bills (BTA), which are short-term government securities with a maturity not exceeding 52 weeks, thus represent twice the amount of 2,240.8 billion FCFA mobilized by the same states during the period, through the issuance of Treasury bonds (OTA). These OTA are medium- and long-term government securities, with maturities generally ranging from 2 to 10 years. The dominance of BTA issuances on the BEAC's public securities market as of September 30, 2024, reflects the liquidity tensions faced by CEMAC countries. Indeed, according to market experts, BTA are typically issued by national treasuries to meet temporary liquidity needs, such as paying salaries, repaying maturing debt, or paying for services. In contrast, OTA are issued to mobilize financing from investors for investment project. Among the countries that have heavily relied on Treasury Bills (BTA), Cameroon stands out as one of the main players in the market, alongside Congo and Gabon. According to data from the Ministry of Finance, in 2024, Cameroon mobilized a total of 1,153.9 billion FCFA on the BEAC's public securities market, a 20.4% increase compared to the previous year.The breakdown of issued securities reveals a clear dominance of BTA, which provided the Cameroonian Treasury with more than three times the amount mobilized through the issuance of Treasury Bonds (OTA). We've been very active in various compartments. 65 lines were issued, including 49 lines of Treasury bills worth 868.9 billion FCFA. On the bond compartment, we issued 16 lines with maturities ranging from 2 to 10 years, totaling 285.03 billion FCFA," Finance Minister Louis Paul Motazé explained on February 13, 2025, in Douala, during the investor presentation of the state's 2025 budget financing program

Christelle koambi