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Cameroon
State poised to borrow €381m to refinance ex-Société Générale acquisition

LogoSubscribers only By Barbara Debout
2 min read Lire en français

Louis-Paul Motaze, the current minister of finance in Washington, on 6 October 2016.
Louis-Paul Motaze, the current minister of finance in Washington, on 6 October 2016. © Zach Gibson/AFP

Yaoundé hopes to raise 250bn CFA francs, or €381m, from local banks by mid-October. The transaction, arranged by Ecobank, is intended to refinance the state's purchase of Société Générale Cameroun, now renamed General Bank of Cameroon, while the authorities consider a possible future sale.

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