(ACEP) – January 09, 2024 will remain etched in the financial market books of the CEMAC region, as this day marks the presentation of the very first bond issued by a microfinance institution, a challenge taken up by the Agence de Crédit pour l’Entreprise Privée (ACEP).
The operation was presented at a public event in Douala, attended by a number of experts from across the sub-region and beyond.
Five (05) billion CFAF is the total indicative amount sought on the domestic market to address financing needs in line with the objectives of ACEP Cameroun’s 2025-2027 strategic plan. The main aim of the operation is to reduce the company’s dependence on international lenders.
“This operation in itself is an innovation in the micro-finance sector,” explains Yann Akindele,”and also with a view to mobilizing savings in a much more structured way, with mechanisms that comply with standards, and also with an objective for good stakeholder management, while promoting attractive interest rates. For the CEO of ACEP Cameroun, it is therefore important that the various stakeholders, whether partners or customers, benefit from this new diversification of its sources of financing through financial resources in local currency, whose interest rates are very often less onerous.”
This operation involves the issue of bonds with a face value of 10,000 (Ten thousand) CFAF for a minimum of ten (10) subscriptions, i.e. 100,000 CFAF in absolute value between 30 December, 2024 and 30 January, 2025. One month for potential bondholders, who will benefit from the constant semi-annual amortization of 2,000 CFAF, i.e. 1/5th of its nominal value. This delicate operation, known as “ACEP CAMEROUN 7% BRUT 2024-2027”, requires the support of a number of institutional guarantees, as required by regulations. To this effect, during the three (03) years of maturity of the operation, ACEP CAMEROUN has requested the investment services of a brokerage firm, USCA, a subsidiary of the Moroccan banking and financial group BCP, duly approved by COSUMAF, the Central African Financial Market Authority.
To facilitate transactions, a special “ORANGE MONEY” account has been created by ACEP CAMEROUN in BICEC’s books. The main purpose of this account is to receive repayment via Orange Money of loans granted by ACEP CAMEROUN to its clientele.
