(Business in Cameroon) - Interest rates on banking credits within the Cemac region increased by an average of 46 basis points from 10.29% to 10.75% YoY between July and September 2022, official Beac data showed.
Three countries, including Cameroon, stood out with the largest rate increases over the period, according to Beac, which also tightened monetary policy during the period by raising its two main policy rates twice. However, although Cameroon was among the countries with the highest year-on-year rate increases, the country posted the smallest quarterly rate increase, we learned.
Average lending rates between Q2 and Q3 2022 increased from 9.46% to 10.21% (+75 basis points) in Cameroon; from 9.61% to 11.99% (+2.38%) in CAR; from 7.72% to 9.06% (+1.34%) in Chad, and from 12.13% to 13.50% (+1.37%) in Gabon, Beac figures reveal. Bad news comes from Congo and E. Guinea, where interest rates fell by 41 basis points and 24 basis points, respectively.