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CEMAC: Gabon, CAR and Cameroon had the highest interest rates on medium-term loans in H1-2020

CEMAC: Gabon, CAR and Cameroon had the highest interest rates on medium-term loans in H1-2020
  • Comments   -   Friday, 27 November 2020 10:47

(Business in Cameroon) - Between January and June 2020, Cameroonian banks were very demanding, as far as interest rates are concerned, for medium-term loans (repayable over about 42 months). According to the Beac, the average interest rates on this category of loans (very popular with economic operators) was 11.93% in the country.

But, Cameroon was not the most expensive country in terms of medium-term credit in the CEMAC zone. It was outranked by Gabon (14.23%), which was the most expensive country in this credit category, and the Central African Republic (12.47%).

In addition to being the countries with the highest interest rates for medium-term credits, the two countries were also the most demanding in terms of conditions set to grant short-term loans (loans repayable over 11 months on average).

Let’s note that short-term loans account for 79% of the new loans granted by credit institutions operating in the CEMAC zone during the period. Gabonese and Central African bankers charged average interest rates of 12.46 and 11.58% respectively, we learn.

During the period under review, the highest interest rates were charged on long-term loans (repayable over 80 months on average). In this category, Gabonese banks were also the most expensive, with average interest rates of up to 14.5%.

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