On Wednesday June 5, 2013, the State of Cameroon would issue bonds to the tune of 20 billion francs CFA, funds to help government finance three priority road projects, confirmed our source at Cameroon’s treasury.

These projects are: The construction of lot 1 (100 km) of the Yaounde-Douala superhighway, the tarring of the Ndop-Kumbo stretch (60.5 km) of the Ring Road in the North West Region, and the construction of Road Number 17, Mengong-Sangmelima (74 km), South Region of Cameroon.

Winding across valleys and over hilltops, the Ring Road is seen as the key to unlocking the economic potential of the region, whose people are among the most dynamic in the country.

As concerns the Yaounde-Douala superhighway, the State of Cameroon is expected to bring 48 billion francs CFA to the table representing 15 % of the total cost.

“Anybody can pledge but only banks will send their offers to BEAC (Bank of Central African States) not later than 9 am next Wednesday,” Sylvester Moh, General Manager of Cameroon’s Treasury said.

At 3 pm, BEAC will announce the amount Cameroon was able to raise, he noted.

Cameroon will borrow the money at an annual interest of 4% to be paid after two years of maturity.

A holder of a 10,000 francs CFA bond will receive the principle sum of 10,000 after two years and 800 francs CFA that is 400 per year as interest, hence a total amount of 10,800 francs CFA by June 2015.