(Business in Cameroon) - The reign of Equatorial-Guinean Lucas Abaga Nchama as head of the Central African States Bank (BEAC) officially ended on 5 February 2016. A day later, we learned from reliable sources, a handing-over ceremony took place at the headquarters of BEAC in Yaoundé, the Cameroonian capital during which Chadian Abbas Mahamat Tolli officially took the helm of the six CEMAC countries’ issuing institution (Cameroon, Congo, Gabon, Equatorial Guinea, Central African Republic and Chad).
In his new function at BEAC, the former President of BDEAC will be assisted by Cameroonian Dieudonné Evou Mekou, who also took office on the same day, as Vice-Governor. Just like Gabonese Désiré Guedon, the new Secretary General; Congolese Cédric Ondaye Ebauh, the brand new Chief Operating Officer; and Central African Bienvenu Marius Roosevelt Feimonanzoui, Managing Director, General Audit.
This new team, meant to preside over BEAC for the next seven years, comes at the head of a central bank whose financial situation has been fixed, but who is currently facing a drop in foreign exchange reserves, brought on by the drop in crude oil international prices, which five of the six Member-States produce.