Page 313 - Atouts Economiques Cameroun-2019-GB
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                 In 2016, the market capitalisation of the DSX bond market was 180.8 billion against 253.2 billion in 2015. The decline was explained by the partial redemption of all listed debt securities. The first bond issue of the State of Cameroon cal- led “ECMR 5.6% net 2010-2015” had been removed from the DSX official listing.
The most traded stocks in this sub-fund were the sovereign bonds including: “State of Chad 6% net 2013-201” and “ECMR 5.5% net 2016- 2021”, with a transaction amount of 3.3 billion, that is 95% of the trading. Besides, 465,336 bonds were exchanged compared to 1,135,558 in 2015. The value of transactions moved from 11.2 billion to 3.5 billion.
OVER-THE-COUNTER MARKET
With the sale offering by SONARA of The zero bonds (OTZ) portfolio held by its books, the DSX's over-the-counter market was boosted. In this segment, 57,729 OTZ were traded for a value of 58 billion.
OPERATIONS ON PUBLIC SECURITIES
OPERATIONS ON PUBLIC SECURITIES
As of December 31, 2016, the outstanding amount of government securities amounted to 866.3 billion, of which 98.4 billion for auctions,
317.5 billion for the domestic market and 450.3 billion for the Eurobond. 2015-2025.
From January to August 2017, outstanding government securities stood at 833.9 billion, of which 66.1 billion by auction, 317.5 billion by syndication and 450.3 billion for the Eurobond. Over the same period, the repayments reached the sum of 131.5 billion, of which 91.4 billion for the fungible treasury bills (BTA) issued in 2016 and 40 billion for the BTA issued in 2017. The auction market, is held at 81.8% by the resi- dents and 19.2% by non-residents. That of syndi- cation is 93.9% owned by the residents.
     DATE
7 june
18 october
15 décember
Total
VALUE
36 332 096 641
16 551 602 600
5 157 395 500
58 041 094 741
Source : DSX
Transactions
on zero bonbs in 2016
QUANTITY
36 321
16 535
4 873
57 729
      The headquarters of the Société de Banque in Cameroon located in Douala
STRATEGY FOR THE FINANCING OF THE ECONOMY
The medium-term government’s strategy for debt (SEMT 2017-2019) aims at providing financing needs while minimizing costs and risks and pro- moting the development of the domestic financial market. Since the beginning of fiscal year 2017, the debt policy has undergone an adjustment aimed at slowing the pace of new external debt commitments, with a focus on concessional loans and public-private partnership financing (PPP), to avoid over-indebtedness.
As part of the diversification and promotion of the domestic debt market, the government issues public bonds according to the cash requirements and the profitability of the projects. The same is true for the search of innovative financing for investments and productive projects.
Since 2012, the State has been supporting the development of leasing, which is a solution to the financing difficulties faced by companies, parti- cularly SMEs. The portfolio of financing related to leasing increased from 115 billion in 2015 to 125 billion in 2016.
Since September 2017, the Government is implementing a strategy focussed on the dis- charge of outstanding debts to strengthen the resi- lience of the banking and financial sector in order to better finance the economy. The strategy focuses, among other things, on developing a framework conducive to greater selectivity in the distribution of credit. It also aims at improving people's access to financial services by streng- thening microfinance and facilitating the develop- ment of “mobile banking”.
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