(Business in Cameroon) - The Development Bank of Central African States (BDEAC) ended FY2022 with a profit of CFA5.1 billion, we learned following the bank’s general meeting held last May 4 in Malabo.

Despite a decrease of CFA3.6 billion (-41.3%) compared to the previous year, BDEAC has deemed its latest financial result satisfactory given the challenging circumstances "marked by the persistent impact of Covid-19, coupled with the war in Ukraine". Although the bank has maintained a positive result, data showed that it has decreased over the past three years, with the amount shrinking from CFA15.24 billion in 2019 to CFA9.8 billion in 2020 and CFA8.7 billion in 2021.

Despite the difficult context in 2022, BDEAC said it has provided financing for 27 projects both in the public and private sectors across the Cemac countries. Overall, CFA367.3 billion have been injected into the transport, energy, health, and education sectors.

It is worth noting that Jean Paterne Megne Ekoga, a Gabonese national who was appointed as Vice President of BDEAC on March 31, 2022, was officially inaugurated during the general meeting. He succeeded Marcel Ondele, a Congolese national who had completed his five-year term.

CJ