Cameroon earns over 35 billion FCFA in dividend from BEAC.

Gabon smiled home with 17.06 billion; while Equatorial Guinea went away with 13.05 billion FCFA. The Republic of Chad and the Central African Republic, CAR, led from the bottom with 9.04 billion and 8.02 billion FCFA, respectively.

Management announced that the total package was up to 100.37 billion FCFA. The accrued as part of a net profit the central bank accumulated during the 2024 financial year.

BEAC management specified that the total net profit stood at 355 billion FCFA, but the hierarchy decided to share out only 100.37 billion to CEMAC member states, owners of the sub regional central bank.

Management also clarified that the sharing took into consideration internal management criteria that guaranteed equity and fairness to all the member states.

Among the sharing criteria highlighted were currency circulation, and contribution to overall income of the establishment. This, the hierarchy said, were very important for, not only the growth of the institution but for the economic development of member states.

“BEAC places great value on both national economic dynamics and monetary discipline. Our evaluation reveals the structural asymmetry between CEMAC member states, with some benefitting from a much higher dividend thanks to their economic weight, while others struggle to escape chronic budgetary dependence,” management stated.

In a sub-regional context often plagued by opaque public finances, management of the bank stated that BEAC´s performance sends a strong signal; to the effect that it is possible to demonstrate rigour, cost effectiveness, and transparency in the management of a community institution. 

Officials were categoric that the way the dividend was shared should be a source of inspiration for the different governments to strive to do better.

“This should inspire states, many of which are still struggling to streamline their spending to curb corruption in the tax system,” management stated in its press statement.

Alluring that the greater challenge now is for governments to do their utmost to use the financial windfall as a lever to spur all round national development in their respective countries. 

The Bank noted that in several countries of the CEMAC Sub-region, infrastructure is dilapidated, hospitals lack basic equipment while public schools are crumbling under the weight of neglect.

“It would be regrettable if this money were absorbed by operating expenses or prestige missions. Each state should publicly account for how its share will be used,” officials of BEAC admonished.

However, they were upbeat that transparent and strategic allocation, for example, to modernize taxation, boost local production, or strengthen the national banking system, would signal economic maturity.

Looking back at the financial year just ended, the management of the Central Bank stated that the 2024 business year was successful thanks in part to favourable economic factors like rising interest rates, improved reserve management, among other factors.

Questioning whether BEAC will be able to maintain the favourable course over the long term, management stated that it will depend on the Bank´s ability to continue the reforms it has undertaken. 

It said the situation will also depend on the political and budgetary stability of all CEMAC member countries. Management concluded that at a time when the issue of a single African currency is resurfacing, BEAC has the opportunity to strengthen its legitimacy and credibility.

“These results should not be seen as an end in itself, but as a starting point towards greater economic integration and even more exemplary governance,” BEAC management enthused.

This article was first published in The Guardian Post Edition No:3448 of Wednesday May 14, 2025