Cameroon Thursday in Brazzaville launched a bond to raise 200 billion CFA francs at an interest rate of 5.60 percent with Congolese traders.

'We decided to come to you because Congo has financial resources and we need to improve the living conditions of Cameroonians,' said Cameroon's Minister of Finance, Lazare Essimi Menye, during a press conference.

Cameroon has to extend this bond to other countries in the sub-region of Central Africa, according to the minister who noted that the bond will have an impact on the stock exchanges of both countries.

Interested investors should approach the following underwriting institutions selected for formalities: Afriland First Bank, BACM, BICEC, BMCE Capital, CBC CENAINVEST, Citibank, EDC-Investment Corporation, CBS Cameroon, SGBC and UBA.

The net interest rate used is 5.60 per cent per year, the interest being exempt from any taxation. The price of a Treasury bond is 10 000 FCFA and the minimum to purchase is thirty obligations. The repayment is done on an annual basis with one year grace

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