The Douala Agency of the Bank of Central African States BEAC the economic capital of Cameroon is launching an operation to exchange banknotes for coins. This operation mainly concerns pharmacies, supermarkets, department stores, bakeries and business owners.
According to the BEAC Agency in Douala, the exchange of banknotes into coins will take place every Monday, Tuesday and Wednesday from 7 a.m. to 10 a.m. This initiative comes in a context where the shortage of coins has been felt for several years already in Cameroon but also in other CEMAC countries
It should be noted that the BEAC has decided to inject 150 million FCFA worth of coins into the banking circuit of the Economic and Monetary Community of Central Africa. These are the 100 FCFA, 50 FCFA and 25 FCFA coins of the 2006 range. This action by the Central Bank aims to improve the liquidity of the region’s financial system and ensure that small value transactions can take place without hindrance. Also, this decision should stimulate economic activity, strengthen financial stability and encourage financial inclusion by making transactions more accessible to all.
In order to definitively resolve this problem, Yvon Sana Bangui, Governor of the BEAC, announced the putting into circulation, during the current year, of a new range of coins.
There has been an acute shortage of coins in CEMAC countries A situation which has greatly hampered economic activities
