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Equatorial Guinea Continues Proactive Industry Engagement to Support the Oil Sector

Equally important, the Minister received a letter from the industry regarding ongoing concerns over forex regulations imposed by the Bank of Central African States (BEAC). On this occasion, he insisted...
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CEMAC in search of 2400 billion FCFA for sub regional integration

From twelve projects initially for an investment estimated at 2820 billion FCFA, the Steering Committee (Copil) of Pref-Cemac has revised its ambitions downwards, thus reducing the number of these projects...
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UEAC member states meet to roll back COVID 19 Economic shocks

Although one can not yet determine the duration of this health crisis, GDP in the CEMAC zone is expected to contract by around 4 to 6%. Such a development would...
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New BEAC currency regulation could hamper Gabon’s investment plans

Businesses would, therefore, have to exchange their dollar-denominated income for francs, which would incur exchange costs and expose them to currency fluctuations. In addition, since the financing of oil companies...
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BEAC injects 600 billion FCFA into financial market

Indeed, the implementation of this operation is linked to the agreements concluded with the International Monetary Fund (IMF). "To benefit from this operation, the central bank asks the States, in...
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Congolese bank assets up 6.3%

Due to underperformance in exports and imports, inflation is estimated at 2.8% this year, down from 1.8% a year earlier. The money supply in circulation will fall by 14.1% due...
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GIMACPAY, the converged card, mobile and transfer ecosystem now a reality

GIMAC is announcing the commercialization of integral electronic payment services at the end of the pilot phase in which the CBC, BGFIBank Gabon, BICEC, UBA, MTN Cameroon, ORANGE Cameroon, CCEI...
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African Energy Chamber Salutes BEAC’s Authorization to Open Foreign Currency-labelled Escrow Accounts

“We applaud the BEAC for listening to the private sector concerns and for adopting a pragmatic approach to foreign currency regulations in the wake of the ongoing crisis caused by...
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BEAC report reveals a 14.9% drop in CEMAC exports

"A sharp drop, especially since the previous quarter, exports had increased by 2.1%, oil has contributed more than 88.3% to the overall evolution, while the contribution of agricultural products was...
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Cameroon to raise 110 billion FCFA from BEAC financial market in Q3 of 2020

Concretely, this fundraising operation will take place in several phases. The first will take place from July 8 to 27, 2020. During this period, Cameroon wants to raise 50 billion...
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