logoBC
Yaoundé - 09 June 2023 -
Finance

BDEAC saw its profit down almost 50% YoY in 2022

BDEAC saw its profit down almost 50% YoY in 2022
  • Comments   -   Monday, 08 May 2023 12:56

(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

cameroon-govt-plans-to-sell-47-seed-farms-to-the-private-sector
The Cameroonian Ministry of Agriculture and Rural Development (Minader) has just launched a call for expressions of interest to recruit private partners...
malian-cheick-kante-appointed-world-bank-director-of-operations-for-cameroon
Malian Cheick Fantamady Kanté is the World Bank's new Director of Operations for Cameroon. The newly appointed manager was officially presented to the...
cameroonian-jacques-edjangue-confirmed-as-afdb-vice-president
Cameroonian Jacques Edjangue has been confirmed Thursday as the Vice President for People and Talent Management of the African Development Bank (AfDB)...
cameroon-pays-back-cfa63-4bn-on-beac-securities-market-seeks-additional-cfa20bn
Cameroon made last June 5 the issuance of 7-year fungible Treasury bonds (OTAs) on the Beac public securities market aiming at raising CFA20 billion, the...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »