Outreach to Francophone Africa
February 14, 2019outreach to francophone
africa
Professor Njuguna Ndung’u met with la Banque des tats de l’Afrique Centrale (BEAC) Governor Abbas Mahamat Tolli on February 13th in Yaoundé, Cameroon to discuss the integration of BEAC into AERC’s Governors Forum. Also present was the Director General of Research, Ivan Bacall Ebe Molina.
Created in 1972, the Bank of Central African States (BEAC) is the central bank common to the six states that make up the Economic and Monetary Community of Central Africa (CEMAC). They are respectively Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.
BEAC’s mission is to:
- promote financial stability
- promote the smooth functioning of payment and settlement systems
- hold and manage the official foreign exchange reserves of the Member States
- lead the CEMAC exchange rate policy
- issue fiduciary money (banknotes and coins that are legal tender and discharging power in the CEMAC)
- define and conduct the monetary policy of CEMAC.
AERC seeks to increase engagement with Francophone Africa to ensure that we effectively serve all stakeholders in the region.
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