Finance
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...CEMAC: Investment financing drops to 19.6% of total lending in Q2 2023
Banks operating in the CEMAC region primarily issued short-term loans, with durations under 24 months, over the second quarter of 2023 as reported by the...Central African interest rates climb in Q2 2023, Cameroon leads the surge
The average interest rates applied by banks in the Economic and Monetary Community of Central Africa (CEMAC) increased by 106 basis points (1.06%) between...BVMAC initiates share split to enhance financial inclusion in Central Africa
The Central African Securities Exchange (BVMAC) plans to split shares to make financial market participation more accessible to low-income populations....BDEAC launches first multi-tranche bond issue to raise CFA50bn
The Central African States Development Bank (BDEAC) is poised to open subscriptions for its inaugural 2024 bond issuance on March 4 at the Central African...Cemac: Beac rejects cryptocurrency regulation amid fintech demands
In response to pressing calls from fintech companies to regulate cryptocurrencies in the CEMAC region, the Central Bank of Central African States (BEAC)...Advans Cameroun secures €2mln guarantee for rural agricultural financing
Advans Cameroun, a microfinance institution that specializes in providing financial support to very small businesses (VSB), received a portfolio guarantee...Beac aims for 1mln payment points to boost CEMAC financial inclusion by 2030
The Central Bank of Central African States (Beac) is considering creating one million payment points across the CEMAC region to achieve its strategic goal...Cemac faces financial crisis as unpaid bank credits surge to CFA1,917.9bn by 2022
The outstanding non-repaid bank credits of the Central African Economic and Monetary Community (Cemac) reached CFA1,917.9 billion on December 31, 2022....Cameroon's state recovery corporation recovers CFA5 billion in 2022, down 17% YoY
In 2022, the State Recovery Corporation of Cameroon (SRC) grappled with nine judicial decisions, totaling 46.297 billion XAF, as outlined in the report by...Yellow Card administrator faces legal woes in Cameroon over financial dispute
Crypto-currency exchange platform Yellow Card is caught up in a financial dispute, leading to the arrest of its board member, Jonie Banyong Fonyam Jr, a...Cameron repays CFA95bn debt in a record move on the Beac securities market
Cameroon’s Treasury made a repayment of CFA95 billion on the Beac public securities market over the 72 hours from December 18 to December 20, 2023. In...Cameroon urges 177 businesses to clear tax arrears by Dec 22, aiming to exceed annual revenue goal
Cameroon’s Finance Minister Louis Paul Motaze issued a statement last December 12, urging 177 companies operating in the country to bring their tax...Moroccan insurer Wafa aims for top spot in Cameroon's market
Wafa Vie Cameroon (WAVC), the local branch of Moroccan Wafa Assurance operating under the Attijariwafa Bank Group, aims to secure a spot among the top...Bvmac introduces its first market index, the Bvmac ASI
On December 1, 2023, a committee in Douala, Cameroon, selected the name for the inaugural stock index of the Central African Securities Exchange (Bvmac),...Paris roundtable: CEMAC surpasses funding target with €9.2bn for regional integration projects
The funds pledged exceed the regional institution's initial target of €8.8 billion to finance infrastructure projects aimed at enhancing regional...Cameroon's tax authority launches digital assistance platform for real-time tax support
Cameroon’s General Tax Directorate announced it is launching a digital assistance platform next December 1st. Called "Help Desk,” this platform is...Cameroon’s new bond: Investors hold steady despite slow start in trading
During its second trading day on November 24, 2023, 24 hours after being listed on the Central African Securities Exchange (Bvmac), the Cameroon...Unlocking housing finance: Apeccam focuses on solutions for Cameroon’s real estate challenges
The second edition of the Finance Mornings, organized by the Professional Association of Credit Institutions in Cameroon (Apeccam), is set to take place...IMF and Cameroon agree to extend Economic Program until 2025
On November 17, 2023, the International Monetary Fund (IMF) announced it has reached a staff-level agreement with Cameroon to extend the existing...Cameroon postpones its $333.2mln bond issue to 2024 amid rating worries and IMF support
Cameroon has postponed its $333.2 million international bond issuance until 2024, as revealed by Fitch Ratings in its latest creditworthiness...Cameroon dominates Cemac banking with 60% of accounts and 28.8% network, aiming for growth by 2030
Cameroon dominated the banking sector of the Cemac region in 2022. According to data reported by the central bank Beac, the country alone houses slightly...Banks unite in Beac's market, navigating tightened monetary policies
At the close of October 2023, Beac's secondary market for government securities registered a surge in interbank transactions via repurchase agreements...Access Bank Cameroon Making Giant Strides
Having commenced operations on May 23rd, 2022, with one business office in Akwa, Access Bank Cameroon has continued investing in its expansion within the...Mobile money rivals traditional banks in the CEMAC region
With 37 million accounts by 2022, Mobile Money now stands out as a significant competitor to traditional banks in terms of financial transactions in the...Gimac reports explosive growth in electronic money transactions in 2022
The Interbank Monetary Group of Central Africa (Gimac) processed over 7.3 million electronic currency transactions in 2022. The overall volume of...BGFIBank Cameroon commits CFA3.5bn to Camwater project for clean water
More details have emerged regarding the tripartite agreement signed on November 1, 2023, in Douala between Cameroon Water Utilities (Camwater), the...The Regional Bank distributes 40% of profits in dividends, down from initial 60% proposal
The regional bank has reduced the amount it had initially planned to distribute as dividends for the FY2022. From 1.5 billion (60% of its profits) agreed...Cameroon's debt servicing hit CFA98bn in September 2023
Cameroon spent a total of CFA98.1 billion on debt servicing in September 2023, excluding outstanding payables and repayment of fungible Treasury bills...
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