Cameroon pans to raise CFA320 billion on the Beac public securities market in the first quarter of 2026.
According to the provisional issuance calendar published by the Treasury Department at the Ministry of Finance, CFA45 billion is expected to be raised in January, exclusively through Treasury bills (BTA). These instruments have maturities of up to 52 weeks and are typically used to meet short-term cash requirements.
In February and March 2026, the Treasury plans to scale up its market activity, targeting borrowings of CFA160 billion and CFA115 billion, respectively. These operations will combine Treasury bills and Treasury bonds (OTA), which carry maturities ranging from two to ten years and are generally used to finance development projects.
An analysis of the announced maturities shows that Cameroon will rely more heavily on the money market in 2026 to cover short-term liquidity needs than on longer-term borrowing for investment. Based on the issuance schedule, CFA180 billion is expected to be raised through Treasury bills, compared with CFA140 billion through Treasury bonds.
Under Cameroon’s 2026 finance law, the government is authorized to raise a total of CFA400 billion through public debt securities during the year, excluding refinancing operations used to roll over maturing debt. On this basis, the borrowing planned for the first quarter represents 80% of the annual issuance envelope.
BRM
