Finance
France and the EU condemn the Bamenda and Galim attacks
Accused of conspiracy against Cameroon, Human rights group Redhac announces a judicial complaint against Paul Atanga Nji
Government’s HIMO operation slows youth recruitment into Boko Haram sect in the Northwest
Wafacash Central Africa increases capital to XAF2.6 bln
Douala-based money transfer company Wafacash Central Africa informs that it has increased its capital by XAF600 million. To do so, the subsidiary of...
Cemac: COBAC issues temporary measures to limit the impacts of the covid-19 on the Banking sector
COBAC, CEMAC region’s banking regulator, has decided to temporarily modify some banking regulations to limit the impacts of the coronavirus pandemic on...
CEMAC countries’ foreign exchange reserves yielded XAF13 bln interest in 2019 (BEAC)
In 2019, the foreign exchange assets CEMAC countries kept in the operations accounts opened at the French Treasury generated about XAF13 billion of...
Cemac: Banks’ adoption of the repo agreements boosted interbank transactions by 300% in 2019
In 2019, the repurchase transactions (repo) carried out on the interbank market of the CEMAC zone reached XAF2,546 billion. By the end of 2018, operations...
Beac posts XAF19.6 bln net profit for FY2019, up 2.8% YoY
The Bank of Central African States (Beac) informs that in 2019, it recorded XAF19.6 billion of net profit. This performance is up by 2.8% compared with...
Cameroon’s 1st 10-year T-bond on BEAC market oversubscribed at 120%
On May 6, 2020, Cameroon issued 10-year fungible treasury bonds (T-bonds) on the BEAC’s government securities market. This was a first since the creation...
Cameroon issues 10-year T-bonds to raise XAF25 bln on the BEAC money market
For the first time since the creation, in 2011, of the BEAC public securities market, a CEMAC country will issue a 10-year fungible Treasury bond...
Cameroon: Alexis Megudjou becomes MD of new local bank CCA-Bank
On April 28, 2020, Alexis Megudjou, previously Deputy Managing Director of CCA Bank, was appointed Managing Director of the said banking institution...
CEMAC countries raised a record XAF2,846 bln on the BEAC securities market in 2019
In 2019, CEMAC countries raised a total of XAF2,846.3 billion on the public securities market of the Bank of Central African States (BEAC), according to...
Socapalm posts net profit of XAF12.24 bln for FY2019
Société camerounaise de palmeraies (Socapalm), a subsidiary of the Luxembourg company Socfin, reports that it made a net profit of XAF12.24 billion in...
Cameroon: Estimated at 0.9%, the diaspora’s contribution to the economy is poor, the UNDP says
A recent Development Financing Assessment (DFA) focused on Cameroon, funded by the United Nations Development Programme (UNDP), found that compared to...
Another battle between Cameroon and Beac over e-payment systems
The Bank of Central African States turned down last week a license request by state-owned Cameroon Postal Services (Campost) to operate an e-payment...
Two Cameroonians tasked to invest part of the BEAC’s pension fund
The Bank of Central African States (BEAC) recently hired the asset management companies managed by Cameroonian natives Marc Kamgaing and the Nkontchou...
CEMAC: Mobile money interoperability is now effective across the region (BEAC)
In the CEMAC region, mobile money interoperability is now effective, according to the Bank of Central African States (Beac). Thanks to this...
Cameroon will raise XAF30 bln from local banks this year
This year, Cameroon will borrow XAF30 billion from local banks to fund the 2020 state budget, according to internal sources at the Ministry of...
CEMAC: The BEAC injects XAF500 bln into the CEMAC banking system
The Bank of Central African States (BEAC) announces that over the April 9-16, 2020 period, it will provide XAF250 billion of liquidity to banks operating...
French Duval to become the leading shareholder in Cameroonian microfinance institution Focep
Yesterday April 6, an ordinary general meeting of the microfinance Fonds Cameroun d’Épargne pour le Progrès (Focep) was convened. According to a note...
Cameroon plans to raise XAF290 bln on the BEAC public securities market in Q2-2020
Between April and June 2020, Cameroon plans to raise XAF290 billion on the BEAC public securities market by issuing treasury bills and bonds. This was...
Cameroon: Commercial banks recorded XAF75.5 bln of net result in 2019 (Ministry of Finance)
In 2019, the 15 credit institutions operating in Cameroon realized a net result of XAF75.5 billion, according to the Ministry of Finance. At the same...
Cameroon: Microfinance institutions performed better YoY in 2019 (Ministry of Finance)
In Cameroon, the performance of microfinance institutions has been decreasing since the 2017 fiscal year but, in 2019, the trend changed slightly. This is...
Covid-19: Beac initiates easing measures to facilitate crusade against the virus
On March 27, 2020, members of the BEAC Monetary Policy Committee held a videoconference to find solutions to the coronavirus crisis affecting the world,...
Cameroon to raise XAF45 bln on the public securities market to fight the coronavirus pandemic
On April 8, 2020, Cameroon will launch the first bond of a series of three on the BEAC money market. According to internal sources at the Ministry of...
Coronavirus: Cobac prescribes “caution” in the restructuration of affected companies’ debts
"The impact of this global health crisis, although difficult to determine in terms of scale and duration, will affect the repayment capacity of several...
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