Biya’s long stay abroad, succession battles scaring investors - Report.

In the report, published August 7, 2026, Bloomberg indicated that Cameroon’s dollar bond is the worst performing in Africa, since early June this year, when Biya jetted to Europe. 

It linked the poor performance of the country’s dollar bonds to questions around the President’s long absence from the country.

Bloomberg cited a comment from a research note, attributed to Oxford Economics analyst, François Conradie, as stating that Cameroon’s uncertainty is worsened by a succession battle among the President’s cronies.

Conradie, Bloomberg reported, noted that Biya’s absence from public view since he boarded a plane on June 7, 2026, mean he maybe “unwell”. 

The media organ also reported that the internal battles to succeed Biya may not be resolved anytime soon, leaving investors weighing options, with reservations on whether a quiet transition is on or not.

“We expect the uncertainty to persist for some time, while governance deteriorates,” Bloomberg quoted Conradie as having said, adding that: “If Biya does return home, there will still be demands for clarity on his succession”.

Investors with interest in emerging market, the media organ reported, are becoming less interested in Cameroonian bonds. 

Bloomberg specified that within the six-member Central Africa Economic and Monetary Community, CEMAC, Cameroon is behind the Republic of Congo and Gabon in terms of investor interest.

Cameroon’s debt, Bloomberg detailed, “…handed losses of 0.6% over the past two months, in contrast to gains of 0.2% in Congo and Gabon’s 1%, data”.

This, it said, is happening as “an emerging markets dollar bond index has returned 0.4% to global investors over the same period”.

Changes in basis points, which refer to drifts in interest rates on bonds, Bloomberg added, have affected bonds with a maturity for 2031 and 2033. 

It disclosed that from the day Biya left Cameroon, the bonds maturing in 2033, have increased 70 basis points to 9.5%. It put the basis points for bonds to mature in 2031 at 50.

It stated that as at Friday, August 7, 2026, interest on 2033 bonds had hit 9.53%, “as of 3:30 p.m. in London, putting the securities on course for a fourth straight week of losses”.

The same report also cited Matthew Vogel, Head of Emerging Markets Sovereign Strategy at financial services company, Marex, as indicating that weaknesses in Cameroon's bonds were recorded at the end of July 2026.

The publication attributes to Vogel the concern of investors to comprehend the governance risk in Cameroon.

Vogel, going by Bloomberg, indicated that investors may not be gaming on “something bad”, but averred that “if there is a political transition…more and more attention” is on the issue.

‘Succession the main risk’

For James Kuate, co-founder of Quantara Asset and Management with extensive interest in Africa, Bloomberg mentioned him in its report as being explicit that: “Succession is the main risk in Cameroon ”.

The Bloomberg report also noted that the absence of a Vice President, despite the tinkering of the Constitution in April this year, to reintroduce the position, has not doused fear of an uncertain future in case something happens.

The media organ reported that despite being the giant of Central Africa, Cameroon, as per the International Monetary Fund, IMF, still enjoys a cautiously favourable economic outlook.

Beyond that, Bloomberg points to an economy, anchored on commodity exports, subject to price volatility, fiscal policy headwinds, and other sub regional challenges as also lurking.

Fears at home grip the globe

The Bloomberg publication also fed on the extensive reactions from across the political chessboard, especially the opposition that has been claiming a vacancy at the helm of State.

It cited several political actors who went as far as seizing the Constitutional Council to declare a vacancy at the helm of State.

Amid such fears, government has in the last 65 days maintained that President Biya is ruling the country from Geneva, Switzerland. 

The last of such outings to calm nerves across the globe and the polity in particular, came on August 3, 2026.

On that day, the Minister of Communication and Government Spokesperson, Rene Emmanuel Sadi, in an interview granted French media, Radio France Internationale, RFI, allayed any fears, stating that the Head of State is doing fine.

Rene Sadi, in the interview, also stated that Biya is taking his time to appoint a Vice President and form a new government, whenever he deems it necessary. 

He brought in the variable of experience, noting that Biya is “in a very good position to justify such a decision, such a plan…he has given himself time to consider the matter and he will decide when to appoint a Vice President”.

This article was first published in The Guardian Post Edition No:3876 of Wednesday August 12, 2026