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Yaoundé - 22 October 2017 -
Finance

The capital of BEAC within the BDEAC moved from 6 to 33% between 2010 and 2016

The capital of BEAC within the BDEAC moved from 6 to 33% between 2010 and 2016
  • Comments   -   Friday, 10 February 2017 02:46

(Business in Cameroon) - As the Governor of the Bank of Central African States (BEAC), Luvas Abaga Nchama, is stepping down in favour of Chadian Mahamat Tolli, his review shows that the Central Bank increased its shareholding in the capital of the Central African Development Bank (BDEAC) from 6 to 32%.

Which means that out of the BDEAC’s capital of FCfa 1,200 billion, BEAC currently owns shares amounting to FCfa 401.1 billion. Lucas Abaga Nchama reminds that it is through the Central Bank that BDEAC raised its capital from FCfa 400 billion in 2010 to the current FCfa 1,200 billion. The six countries in the Economic and Monetary Central African Community (CEMAC) each own 8.48% in the capital of the sub-region’s Development Bank. Thus FCfa 107.7 billion respectively for Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.

The African Development Bank (AfDB) owns 3.38% (FCfa 40.5 billion) in the capital of BDEAC. France 4.23%, Kuwait 0.08% (FCfa 1 billion) and Libya 1.67% (FCfa 20 billion).

S.A

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