logoBC
Yaoundé - 19 March 2024 -
Finance

Bank credit: Cameroon showed the lowest quarterly interest rate increase in Cemac in Q3 2022

Bank credit: Cameroon showed the lowest quarterly interest rate increase in Cemac in Q3 2022
  • Comments   -   Thursday, 16 March 2023 13:33

(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. 

BRM

cameroon-extends-tax-payment-deadlines-amid-nationwide-internet-outages
The Cameroonian Ministry of Finance announced the extension of the tax filing and payment deadlines by a week, pushing the due date from March 15 to March...
cameroon-businesses-see-surge-in-bank-lending-in-q2-2023-despite-beac-s-tight-policies
Banks and financial institutions operating in Cameroon provided businesses in the country with loans totaling CFA1,311.6 billion between April and June...
air-liquide-sells-assets-in-12-african-countries-including-cameroon
French industrial gas giant Air Liquide announced yesterday it has sold its operations in twelve Sub-Saharan African countries to the investment firm...
undersea-cable-issues-disrupt-internet-in-cameroon-and-beyond
Internet access in Cameroon has been disrupted since the morning of March 14, 2024, following incidents involving two undersea cables. The Mobile...

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 »