(Business in Cameroon) – In its latest “Economic and Statistical Bulletin,” published on February 20, the Bank of Central African States (BEAC) reported a positive shift in bank financing for the economy as of the end of September 2024. The central bank highlighted a notable increase in credit during the third quarter of 2024. The total amount of credit rose from CFA 10,837.7 billion to CFA 11,983.9 billion, marking a 10.6% year-on-year growth.
“This positive trend is largely driven by bank loans to the non-financial private sector, which contributed 10.5 percentage points,” the central bank explained. The report also emphasized the strong performance in the private sector, revealing that key industries, such as agribusiness, telecommunications, and wholesale trade, were among the major beneficiaries of financial support from banks as of September 2024.
The BEAC also analyzed the types of credit by maturity. It noted an overall increase in medium-term loans, which grew by 12.4%, contributing 5.5 percentage points. Short-term loans increased by 8.9%, contributing 5.0 percentage points, while long-term loans saw a modest rise of 1%, contributing a small 0.1 percentage point.
