Bank of the States of central Africa

The Bank of the States of central Africa or BEAC is an official institution of CEMAC grouping several States in central Africa. It is in load of the application of the common monetary policy, of the fixing of interest rates, and the management and the control of monetary reserves, and the foreign debt.

Monetary issuing house

It is also the monetary issuing house of the CFA franc BEAC, which has legal tender in the Member States of CEMAC.

Thanks to a monetary agreement with the France, CFA franc BEAC was convertible with the Franc French, until in at the end of 1999, by a fixed rate (revisable) guaranteed by the deposit by BEAC of a reserve fund to the Banque de France, consisted the contributions of the national central banks (BCN) of each Member State of CEMAC.

In at the end of 1999, the Euro having replaced the French franc, the monetary agreement with France was maintained (after agreement of the ECB), but was redefined by a fixed rate with the Euro still guaranteed (under certain conditions) by the Banque de France, in exchange of the maintenance of the reserve fund.

However, the BEAC remains free to compose of the additional reserve funds (out of metal or currencies) with other central banks in order to facilitate the international business and to have additional monetary reserves in other currencies that the Euro, or to put an end to the convertibility of CFA franc BEAC with the Euro so necessary.

New series 2004 of tickets

Since November 2004, a new series of tickets is available.

These tickets, considered modern, make the object of criticism when with their solidity, in particular the tickets of 500 F and of: 1000 F which can circulate of the years without turning over in a bank and which is unusable at the end of six months.

Problems of shortages

One of the missions of the BEAC is the distribution and the provision of the trade banks of the tickets and coins.

One reproaches the BEAC for not concluding this mission, since the CEMAC knows since more 10 years a shortage of coins, which gives place to any kind of traffics.

Indeed, parts of 100,50 and 25 F are of insufficient number and officially the BEAC does not only recognize the shortage with the reason:

the parts are the subject of an illegal use in the machines with under;
the jewellers found the parts of 25 F to make jewels of them;
and that if there were no use of this kind there would be sufficiently for everyone.

New series 2006 of currencies

In order to flux the circulation of the coins, the BEAC thus chose a historical order by its width (1,250 billion current coins) which was signed in Paris, on May 26th, 2005 by the Governor Jean Felix Malepot and the French Minister for the Economy and Finances representing the manufacturer, the Currency of Paris.

The aim had by the BEAC is to overcome the shortage of the parts, to align the parts on the new international standards in order to protect them from the counterfeits and the diverted uses and to give again a certain dynamism at visual piece-rates circulating in our zone of emission.

All the conceptual, technical successive stages and on production having been regularly crossed successfully, the BEAC thus decided to present these new parts to you this day, March 20th, 2006, official date of March 29th, 2006 in the six countries of the Economic community and Monétaire of Africa Centrale.

Like the old range currently in circulation, this new range of parts is made up of eight cuts: 1,2,5,10,25,50,100 and 500 FCFA. Bimetallic technology was introduced for the first time with the part of 100 Two-tone FCFA of gray color in the middle and of crown yellow-but shining. The set of themes is common to all the cuts:

face: All the parts of the range comprise on the face, the facial value and the mention of the monetary unit (FCFA) written in very big letters, thus offering a better legibility to the public including for the partially-sighted persons;
reverse: The graphics of the reverse is the same one on all the cuts of the range. It symbolizes a basket of tropical fruits with the facial value which is taken again there in small characters, the whole, surrounded by geometrical figures. Initials “CEMAC” overhang the facial value.

Electronic porte-monnaie

To solve the problems above, the BEAC advances the solution of electronic porte-monnaie. Its generalization would make it possible to solve the problems of currency in urban area. Nevertheless, very the low level of bancarisation makes fear for the future of the project.

Governors of the BEAC

Casimir Oyé Mba (Gabon) was first African to have occupied the post of Governor of the BEAC (1977-1990) after the transfer of the central seat of the bank of Paris (France) in Yaounde (Cameroun).

The second Governor of the Bank of the States of central Africa (BEAC) was the Gabonese Jean Felix Mamalepot (1990-2007). He was raised of his functions at the time of the 8th Session of the Conference of the Heads of State of the Economic community and monetarist of the States of central Africa (BEAC) which was held in Ndjaména (Chad) on April 25th, 2007. Its long career within the BEAC was completed following a disagreement with certain Heads of States of the CEMAC.

The new governor of this institution is Philibert Andzembe also of Gabonese nationality and which took its functions on July 12th, 2007.

It should be noted that according to the habit, the post of Governor is reserved in Gabon, the Vice-Governor having to be originating in the Republic of Congo and the General secretary, of Chad.

External bonds

Official site of the BEAC

See also: Official site of the CEMAC

All tickets of the BEAC, 1920 to our days (pdf)

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