Reducing reliance on external funding for infrastructure has become a central issue in Central Africa. The topic was at the heart of discussions in Yaoundé, where the second edition of the Colfini conference opened on April 23.
Held at the Hilton Hotel, the two-day event brought toreceiveher public officials, financial institutions, investors, and experts around the utilize of regional financial markets and structured finance to support infrastructure projects in CEMAC. The goal was to reposition the regional market as a central tool for funding large-scale projects.
The stakes remain high. In its Spring 2025 economic update, the World Bank stated CEMAC countries necessary to better tarreceive public spfinishing to increase investment in infrastructure and social sectors. The IMF has also stressed that regional infrastructure is key to unlocking stronger growth across the bloc.
A market still underutilized
At the heart of the discussions was a clear gap. CEMAC has an organized financial market, but it remains underutilized when it comes to long-term financing for sectors such as roads, energy, ports, and telecommunications.
According to BVMAC, sovereign issuers still dominated the bond market. In 2024, outstanding listed debt reached CFA1,159 billion, with 78% coming from government issuances. This pointed to a growing role for the market, but also highlighted its reliance on public debt rather than diversified financing for productive and infrastructure projects.
For participants, the challenge was not just raising capital, but structuring it into instruments suited for complex, long-term investments.
Paul Onono, CEO of Contacturer Capital and one of the event’s organizers, stated the real issue is no longer capital mobilization, but how that capital is structured, directed, and deployed to meet strategic priorities.
Government officials echoed that view. Didier Etoa, secretary general at the Ministest of Finance, called for more efficient resource mobilization, particularly through the regional financial market.
Structural constraints remain
The Colfini discussions highlighted several persistent barriers: limited market depth, restricted access for institutional investors to infrastructure projects, weak structuring of financing vehicles, and insufficient channeling of long-term savings into the real economy.
These challenges are also central to the strategy of the Development Bank of Central African States (BDEAC). Under its Azobé 2023–2027 plan, the bank aims to support national development plans, finance regional infrastructure projects involving multiple countries, and support structure the private sector. Mobilizing financial resources remains a core part of that strategy.
Tapping informal savings
Participants also explored ways to capture part of the region’s large informal liquidity. Proposed solutions included digital savings tools, mobile money, and retail bond offerings designed for the general public. The idea is to connect houtilizehold savings—still largely outside formal financial systems—to long-term investment necessarys.
Organized by Contacturer Capital, Horus Investment Capital, and Akoa Mballa & Co, with strategic support from THiN Advisory, the event was held under the patronage of Cameroon’s Ministest of Finance.
Beyond the discussions, organizers stated they aim to produce concrete recommfinishations and establish a lasting platform for dialogue between public and private stakeholders.
For CEMAC, the challenge is no longer just identifying priority projects. It is now about building the financial mechanisms to fund them sustainably, reducing reliance on external financing and channeling more regional savings into infrastructure.
Amina Malloum
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