CEMAC economic and monetary policy trends

The Bank of Central African States (BEAC) has maintained its key interest rates, including a Main Tender Rate (TIAO) of 4.50%, following a review of economic trends within the Economic and Monetary Community of Central Africa (CEMAC). Economic projections for 2026 suggest a slowdown in the CEMAC growth rate to 3.0%, down from 3.7% in 2025, alongside a slight increase in annual inflation to 2.2%.

Financial data from the second quarter of 2026 indicates significant disparities in credit access across the region. Individuals face an effective interest rate of 15.48%, notably higher than the rates for small and medium-sized enterprises (10.97%) and large companies (10.36%). This 5.12 percentage point gap is attributed to differences in risk profiles, available collateral, and income stability.

Additionally, the banking sector shows a heavy concentration of lending toward national treasuries in the six CEMAC states. This sovereign debt dominance accounts for nearly 90% of the total credit volume granted to the private sector, creating a “crowding-out effect” that limits available financial resources for businesses and households.

In response to regional financial instability, the Central African Banking Commission (COBAC) has called for stricter credit risk management following a rise in non-performing loans. As of June 30, 2026, the average rate of non-performing loans in CEMAC banks stood at 15.42%, significantly exceeding the international benchmark of 5%. COBAC officials have urged a complete overhaul of risk management frameworks, citing deficiencies in loan classification, accounting, and the management of guarantees.