Yaoundé - 29 November 2023 -
Public management

Beac encourages Cemac countries to move toward sustainable finance

Beac encourages Cemac countries to move toward sustainable finance
  • Comments   -   Wednesday, 03 May 2023 17:55

(Business in Cameroon) - The Bank of Central African States (Beac) is organizing next May 8-9 in Douala an international workshop to encourage countries within the Cemac region to move toward sustainable finance.

The meeting receives the support of the International Finance Corporation (IFC) and the Sustainable Banking and Finance Network (SBFN), Beac said in a May 3 press release. The central bank announced that participants will include officials from the CEMAC Commission, the regional stock exchange (Bvmac) and the financial market regulator (Cosumaf), the regional development bank (BDEAC), financial sector professionals as well as CEMAC economy and finance ministers. Officials from the West African Monetary Union (WAEMU), the World Bank, and the SBFN are also expected to attend.

The organizers see the upcoming event as the occasion to raise participants’ awareness of the opportunities and benefits of sustainable finance as well as strategies to move the markets toward this type of financing. "This forum will allow the creation of a firm commitment of stakeholders operating in member countries, but also the establishment of a solid connection between the Cemac and international partners for the emergence of sustainable finance in the region," Beac said.

Sustainable finance seeks to promote real economy and long-term projects. It favors financial operations that take into account extra-financial criteria commonly known as ESG criteria (environmental, social, and governance). These criteria include carbon emissions, biodiversity protection, waste management, and societal impacts.

The National Council of Shippers of Cameroon (CNCC) and the Agency for the Promotion of Small and Medium-sized Enterprises (APME) provided equipment to...
Cameroon’s national stats agency INS issued a report indicating that the country’s average annual inflation rate in October 2023 reached 7.7%. Although...
An auction of goods will be held at the port of Kribi on December 8, according to a November 21 press release signed by Norbert Belinga, head of customs...
From November 23 to 26, 2023, stakeholders in the cotton sector, including the Cotton Development Company (Sodecoton), the National Confederation of...

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 »