The decision paves the way for the issuance of the first foreign currency bond (eurobond) or global private placements. The initiative is based on the long-term credit rating of Ba3 with a stable outlook, assigned by the American rating agency Moody's, which provides the institution with the required visibility to solicit international high finance.

The shift towards global financial markets marks a break with the mechanisms for mobilizing savings that are exclusively intra-community and have been favored until now. The Brazzaville-based institution had established itself as the pivot of the bond compartment of the Central African Stock Exchange (BVMAC) in Douala, through the management of six lines of securities. The impact on the unified financial market had materialized with the payment of 57 billion FCFA in interest to subscribers, representing 74.5% of the global envelope of 76.5 billion FCFA distributed by the regional stock exchange. The insufficiency of local liquidity compared to the needs of the hinterland now requires recourse to transcontinental fund syndications with expanded bilateral partners.

The international deployment aims to secure the Azobé 2023-2027 operational plan, whose overall programming envelope requires 1,700 billion FCFA for the financing of transport infrastructure, agro-industry, and energy. The activity indicators validate the financial solidity of the institution chaired by Dieudonné Evou Mekou, whose gross outstanding commitments amount to 723.5 billion FCFA, divided between 32 credits allocated to the public sector and 55 loans granted to private enterprises. The institutional profitability has been consolidated at the close of the exercise with a net profit of 5.2 billion FCFA, materializing a progression of 48.6% compared to the 3.5 billion FCFA accounted for during the previous period.


Ndjomo Carlos

Tags: marché financier bdeac eurobond financement international moody's crédit investissement afrique centrale bourse des valeurs