Rédaction Africa Links 24 with Esther FOSSI
Published on 2024-03-04 09:32:26
The information is contained in the report on the evolution of lending rates practiced by credit institutions in the Economic and Monetary Community of Central Africa.
In its assessment report, the BEAC highlights that the overall volume of new credits granted by the banking system of CEMAC to the economy increased by 30.89% between the second quarters of 2022 and 2023, reaching 2,405.4 billion compared to 1,831.8 billion.
“This dynamic reflects the strong performance of economic activity observed since the end of 2022, after the period of uncertainties related to the Covid-19 crisis. On a quarterly basis, new credits slightly decreased by 2.36% to 2,462.1 billion compared to the first quarter of 2023,” said the central bank of the sub-region.
Thus, the banking sector remains the main provider of credit with a market share of 99.11%, amounting to 2,384.0 billion, compared to only 0.89% for financial institutions at 21.8 billion.
By country, the banking credit market continues to be dominated by Cameroon with 62.85% of new loans, down from 65.1% in the previous quarter. The lowest volume of credit was recorded in the Central African Republic (0.94%).
Overall, the report indicates a positive trend in lending activities within the CEMAC region, reflecting a recovery from the uncertainties caused by the Covid-19 crisis. The increase in new credits granted by the banking system is a testament to the resilience of the economy and the confidence of financial institutions in the region’s economic prospects. This data provides valuable insights into the evolving financial landscape and economic dynamics within the Central African region.
Read the original article(French) on Journal du Cameroun
