Yaoundé - 25 October 2020 -

CEMAC: Central Bank BEAC sets commissions to be collected on outgoing wire transfers in 2021

CEMAC: Central Bank BEAC sets commissions to be collected on outgoing wire transfers in 2021
  • Comments   -   Wednesday, 30 September 2020 12:35

(Business in Cameroon) - On September 22, Abbas Mahamat Tolli (photo), governor of the Bank of Central African States (BEAC), signed a decision allowing the BEAC (central bank of CEMAC region) to collect commissions on outgoing wire transfers in the CEMAC region.  

The governor indicates that the commission to be collected on behalf of approved intermediaries is 0.5% of the pre-tax value. This will be added to the commission already applied by credit institutions to their clients. According to the decision n° 002/GR/2019 which sets the fees on fund transfers, these fees should not exceed 1% of the pre-tax value.

Also, the rate of the commission to be levied by the BEAC on outgoing wire transfers on behalf of the public treasuries and sub-participants (involved in payment systems) that have accounts at the central bank is O.25% of the pre-tax value. The BEAC’s national directorates are tasked to implement the decisions, which should take effect on January 1, 2021.


The Cameroonian subsidiary of the Chinese telecom equipment company Huawei recently concluded the 5th edition of its program "Seeds for the Future," aimed...
The creation of Limited Liability Companies (LLCs) could be further simplified in Cameroon if the country sticks to the priority action plan presented at...
On October 21, 2020, when the second disbursement under the rapid credit facility (aimed at helping countries deal with the coronavirus pandemic) was...
Camair-Co recorded about XAF6 billion of revenue shortfalls in H1-2020, according to an internal document Business in Cameroon had access to. The...

Mags frontpage

Business in Cameroon n92: October 2020

Crowfunding A solution for young entrepreneurs

Serge Esso, rising lobbyist

Investir au Cameroun n102 Octobre 2020

Financement participatif Une solution pour les jeunes entrepreneurs

Serge Esso, le lobbyiste qui monte