Cameroon is facing a significant wave of repayments this week on the BEAC public securities market. According to the central bank’s weekly dashboard, the Treasury was due on February 26, 2026 to pay CFA52.75 billion in principal and interest on a five-year Treasury bond that reached maturity.
The day before, on February 25, the country was also scheduled to repay CFA13.442 billion linked to a 26-week Treasury bill issuance that matured. In total, CFA65.7 billion in obligations fall due within two days.
Refinancing through the market
To meet these commitments, the Cameroonian Treasury returned to the same market on February 23, 2026 with three new securities issuances, targeting a total of CFA70 billion.
The operation included 26-week and 52-week Treasury bills aimed at raising CFA20 billion and CFA30 billion respectively. In addition, the Treasury reopened subscriptions for a previously issued six-year Treasury bond (OTA), seeking to mobilize an additional CFA20 billion under the same terms.
The transactions were settled on February 25, though official results had not yet been published at the time of writing.
Active cash management strategy
Regardless of the auction outcome, the move illustrates a now-standard approach: refinancing maturing debt through fresh issuance on the domestic market. This rollover mechanism allows the government to avoid an immediate drawdown on its cash reserves.
At a time of recurring fiscal pressures, such operations help preserve budgetary flexibility while maintaining Cameroon’s presence on the regional government securities market.
However, the strategy also exposes the Treasury to market conditions, including interest rate levels and investor demand, in a regional environment marked by growing competition among sovereign issuers.
BRM
