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Finance

Cameroon captures nearly 65% of bank credits in Cemac in Q3 2022

Cameroon captures nearly 65% of bank credits in Cemac in Q3 2022
  • Comments   -   Thursday, 16 March 2023 13:22

(Business in Cameroon) - Cameroonian borrowers confirmed their leadership in the Cemac, absorbing 64.6% of all bank credit approved in the region during the third quarter of 2022. The central bank Beac reported that over this quarter alone, the country exceeded its performance in H1 2021 (58.1% of overall credit volume) and H1 2022 (42%).

The dynamism of Cameroon's economic agents on the Cemac credit market is such that the volume of credit they captured is about 5.5 times that captured by Gabonese economic agents (12.07% of market share). Congolese agents received 9.3% of credits, Chadians 7.87%, and E. Guineans 4.09%. The lowest volume was captured by the Central African Republic (2.07%).

Let’s note that Cameroon has a network of 18 licensed banks and is home to about 40% of the Cemac region’s industrial fabric. Official data also revealed the country has, on its own, nearly 50% of the community's banking network. In the microfinance segment, Cameroon is home to more than 400 licensed institutions out of the more than 600 in Cemac.

BRM

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