The Cameroonian government is planning to raise more money for its 2026 budget by increasing the size of an existing bond it issued in 2021. The bond, worth 850 million euros, has an interest rate of 8.875 percent and is set to mature in January 2033. On October 6, the Ministry of Finance announced that it would use a financial technique known as a "tap" to raise an additional 300 million euros. This method allows the government to increase the total amount of the bond without issuing a completely new one. The operation is being arranged by Standard Chartered Bank, with financial advisors Horus Investment Group and Blend Finance assisting in the process. If successful, this move would increase the total value of the bond from 850 million to 1.15 billion euros. The extra funds will be used to support the government’s budget for the 2026 fiscal year and to continue paying off existing debts. This approach is seen as a way to avoid the costs and complexities of issuing a new bond, while still accessing international capital markets. Stéphane Défo, general director of Horus Investment Group, noted that reopening an already established bond can help improve Cameroon’s financial standing in global markets. He explained that investors are more familiar with the existing bond, which can make it easier to raise funds and improve the country’s credit profile. This strategy may also help stabilize Cameroon’s international debt structure by extending the maturity of its outstanding obligations. The move reflects a broader trend among governments to manage their finances more flexibly, using existing debt instruments to meet new financial needs. By tapping into the existing bond, Cameroon aims to ensure a smoother flow of capital while maintaining its credibility with international investors.