- Common monetary authority for six Central African states
- Issues the CFA franc and manages regional reserves
Role and governance
The Bank of Central African States, also known as BEAC, serves as the central bank for six member countries. These include Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. BEAC was established in 1972 and is headquartered in Yaoundé, Cameroon. It is responsible for issuing the Central African CFA franc and managing the monetary policy of the region. The bank holds and administers foreign exchange reserves on behalf of its members. It also oversees regional payment systems and ensures their functionality.
BEAC works closely with the Central African Banking Commission, or COBAC, which supervises the banking sector. This cooperation helps align regional banking regulations. The bank operates national directorates in each member state to support daily operations and policy enforcement. These offices contribute to local policy alignment. The current Governor, appointed in 2024, leads the institution with a mandate extending to 2031. BEAC also supports economic cooperation and integration among its member states through shared financial frameworks and central oversight.
Also read: BAI Cabo Verde banking services
Also read: NOSi Cape Verde digital and innovation agency
Monetary policy and regional initiatives
BEAC maintains the fixed exchange rate between the Central African CFA franc and the euro. It regulates currency circulation and sets policy interest rates for the region. In early 2025, BEAC reduced its tender interest rate to help stabilise liquidity. It also conducted a major liquidity injection into regional banks to ease financial pressure. These actions aimed to support economic balance and improve access to credit. BEAC plays a role in promoting financial inclusion within CEMAC states. It participates in regional and international initiatives related to sustainable finance. It has engaged in partnerships to support environmental and social standards in financial systems.
In recent years, BEAC has helped define regional strategies for ESG compliance. It holds forums and policy meetings to advance financial cooperation and strengthen the banking environment. The bank also collects economic data to guide monetary decisions. It uses this information to adjust monetary tools and coordinate regional responses. BEAC continues to implement measures that support economic stability and development in the CEMAC zone.
