The total outstanding amount of public securities issued by the State of Cameroon on the regional Treasury market reached 1,831.35 billion CFA francs as of January 31, 2026. The market is managed by the Bank of Central African States (BEAC), the central bank of the six CEMAC countries: Cameroon, Congo, Gabon, Equatorial Guinea, Chad and the Central African Republic.
According to data published by the central bank, this level of outstanding debt places Cameroon as the third-largest issuer on the market, behind Congo and Gabon.
As of the end of January, Cameroon accounted for 19.4% of the total outstanding securities on the market, which stood at 9,451.5 billion CFA francs. Congo ranked second with 2,790.5 billion CFA francs outstanding, representing 29.5% of the total. Gabon held the largest share, with 2,887 billion CFA francs outstanding, equivalent to 30.5% of the regional market debt.
Breakdown by instrument
The structure of the market shows a clear dominance of Fungible Treasury Bonds (OTA). These medium and long-term securities, with maturities ranging from two years to more than ten years, are mainly used by governments to finance investment projects.
As of January 31, 2026, the outstanding amount of OTAs reached 7,835.2 billion CFA francs, representing 82.9% of the total debt issued by CEMAC states on the regional securities market.
BEAC data also show that governments in the region rely primarily on bonds with maturities of two to five years. Securities in this segment accounted for more than 5,900 billion CFA francs in outstanding debt during the period under review, or about 62.5% of the market’s total debt.
By contrast, Fungible Treasury Bills (BTA) represented a smaller share of the market. These short-term instruments, with maturities of less than one year, are mainly used to address temporary liquidity needs. Their outstanding amount stood at 1,616.2 billion CFA francs at the end of January 2026, equivalent to 17.1% of the total securities issued by CEMAC states.
According to the central bank, these figures reflect the growing importance of the regional government securities market in the financing strategies of CEMAC countries. As public spending needs increase and budgetary resources remain limited, governments are turning more frequently to market borrowing to finance investment programs and manage short-term liquidity pressures.
BRM