• Tue. Mar 21st, 2023

the Beac injects more than 60 billion FCFA into the Cemac banking sector in two days

Sep 18, 2020

(Business in Cameroon) – Between September 14 and 15, 2020, the Bank of Central African States (Beac), issuing institution of the six Cemac States (Cameroon, Congo, Gabon, CAR, Chad and Guinea equatorial), has refinanced seven CEMAC banks to the tune of CFAF 62 billion, we learn from an official source.

In detail, three banks were refinanced at CFAF 26 billion on September 14, 2020, at an interest rate of 3.5%. The central bank, however, had made available an envelope of 50 billion FCFA, for a one-year maturity.

A day later, the Beac made a refinancing offer of CFAF 250 billion to the Cemac banks. Out of this envelope, four banks captured 36 billion FCFA, certainly scalded by the maturity of the loan which was only one week.

The interest rate for this latest liquidity injection into the banking sector was 3.25%, corresponding to the main policy rate of this central bank.