(Business in Cameroon) – Between July and September 2024, new loans granted by banks across the Central African Economic and Monetary Community (CEMAC) grew by 1.52% compared to the same period the previous year. These loans reached a total of CFA2,492 billion, up from CFA2,454.7 billion by the end of September 2023, according to a report by the Bank of Central African States (BEAC).
Breaking it down, Cameroon took the lion’s share, receiving 67.45% of the total loans, while Gabon followed with 12.60%. This means that together, Cameroon and Gabon accounted for 80% of all new loans granted in CEMAC by the third quarter of 2024.
Cameroon’s dominance in the region strengthened during this period, with a 4.55% increase in new loans compared to the previous year. This is not surprising, as the country also leads in terms of industrial activity in the region, hosting about 40% of CEMAC’s industries and a significant portion of the banking network.
Meanwhile, other CEMAC countries saw much smaller shares. Congo accounted for 9.53%, Chad took 5.44%, and Equatorial Guinea received 3.93%. The Central African Republic had the smallest share, with just 1.05% of the new loans granted in the region.
