(Business in Cameroon) – Gabon has chosen 17 brokerage firms to raise CFA200 billion from investors in the CEMAC region for its “EOG MULTI-TRANCHES 2024-2030” bond issuance launched on May 27. 14 of these firms are from Cameroon.
Leading the operation are two Cameroonian firms based in Douala and helmed by young Cameroonians. Building Emerging Markets Securities (BEM Securities), led by Frédéric Yifomnjou, serves as the principal arranger and lead manager. Alongside is Attijari Securities Central Africa (Asca), a subsidiary of Morocco’s Attijariwafa Bank for Central Africa, co-arranged by Ernest Christian Pouhe.
BEM Securities, accredited by the Central African Financial Markets Supervisory Commission (Cosumaf) in October 2023, marks its debut fundraising for Gabon on the Central African Securities Exchange (Bvmac). Meanwhile, Asca has previously arranged and co-arranged multiple fundraisings in Gabon. Both firms will also arrange another CFA200 billion operation planned by Gabon in the second half of 2024.
The placement agents include primarily Cameroonian brokerage firms. Besides BEM Securities and Asca, agents like Horus Investment Capital, AFG Capital, Africa Bright Securities (ABS), Upline Securities Central Africa SA (Usca), CCA Bourse, SCB Cameroon, Contractor Capital SA, EDC Investment Corporation, Fendhen Capital, Union Bank for Africa-Cameroon, Elite Capital Securities Central Africa SA, and Beko Capital Advisory will support the fundraising.
Additionally, Congolese and Gabonese placement agents such as LCB Capital, Crédit du Congo, and Union Gabonaise de Banque (UGB), a subsidiary of Attijariwafa Bank in Gabon, will participate in the operation.
Previously, Gabon entrusted two other Cameroonian brokerage firms with its first bond issuance of 2024. Emrald Securities Services Bourse (ESS Bourse) as the lead arranger and CBC Bourse, a subsidiary of Commercial Bank-Cameroon, were tasked with raising CFA150 billion domestically. However, they faced challenges in mobilizing the funds within the stipulated deadlines, resulting in two subscription deadline extensions. The subscription period concluded on May 20 without subsequent official communication on the operation.
These fundraisings aim to finance projects outlined in Gabon’s National Development Plan for Transition (PNDT), focusing on the government’s priority actions from 2024 to 2026 and partially clearing the country’s domestic public debt.
Source link : https://www.businessincameroon.com/finance/1306-13931-gabon-relies-on-cameroonian-firms-for-cfa200bn-bond-issuance
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Publish date : 2024-06-13 12:17:44
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