(Business in Cameroon) – Yaoundé is set to host an international conference on the debt challenges facing CEMAC’s six member states on April 10-11. Titled “Sovereign Debt of CEMAC States and Restructuring Opportunities,” the event is organized by brokerage firms Contacturer Capital and Horus Investment Capital, in partnership with the legal, tax, and financial consulting firm Akoa Mballa & Co.
According to Paul Onono, director of Contacturer Capital SA, the goal of the Yaoundé conference is to “find innovative, tailored solutions suited to our economies.” The event also aims to highlight local expertise and foster synergies for sharing experiences, both locally and internationally. Onono pointed out that since 2011, CEMAC countries have accumulated significant debt, and now, it is “crucial to restructure this debt to breathe new life into our economies.” He added that “at some point, it’s essential to assess the debt situation and determine whether its level—and more importantly, its quality—aligns with the goals we set, to help raise funding for future projects.”
The conference is expected to attract high-ranking financial figures from the sub-region, including Cameroon’s Minister of Finance, the Governor of the Bank of Central African States (BEAC), the African Development Bank (AfDB) country representative, IMF officials, as well as leaders of both public and private banking and financial institutions.
Topics to be discussed at the conference include the current state of sovereign debt in CEMAC, the challenges posed by this debt, the structuring of financing transactions applicable to sovereign debt, and debt restructuring mechanisms within CEMAC countries.
Sovereign debt refers to debt issued or guaranteed by a government or its central bank, excluding private companies and individuals. It mainly consists of government loans, treasury bills, and sovereign bonds. This definition, widely accepted by international institutions like the IMF and World Bank, is used to assess the sustainability of a country’s public debt.
In December 2024, Cameroon hosted an emergency summit on the weakening of macroeconomic stability in CEMAC due to a decrease in foreign exchange reserves. One of the main reasons behind this instability is the cash flow issues of some member states, which struggle to repay their debts.
