Wednesday, July 11, 2018

Equatorial Guinea Issues State Bonds, Further Strengthens Financial Industry in Line with Horizon 2020

The Treasury of the Republic of Equatorial Guinea issued State Bonds, further strengthening the country’s financial industry in line with the Horizon 2020 Sustainable Development plan.

The Bonds will have a nominal unit value in Franco CFA of one million, while the interest rate will be deducted from the nominal unit value.

Subscription for the Bonds can be made through banks and financial centers of the Economic and Monetary Community of Central Africa (CEMAC), authorized as specialists in State Bonds by Equatorial Guinea’s Ministry for Finance and Budgets.

Participating banks include BANGE, CCEI Bank, Ecobank, and Société Géneral in Equatorial Guinea; BGFIbank in Gabon; and AfrilandFirst Bank and Union Bank in Cameroon.

The strengthening of financial services is in line with Equatorial Guinea’s Horizon 2020 development program goals. Equatorial Guinea is focused on the training and empowerment of the private sector in mining, fisheries, tourism, agriculture, telecommunications, health, and infrastructure development.