According to recently made public data by the Bank of Central African States (BEAC), on March 31, 2025, the outstanding titles issued by the six countries (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad) of the Economic and Monetary Community of Central Africa (CEMAC) on the monetary market is evaluated at 8451.8 billion FCFA (around 14.5 USD billion). This represents an increase of 12.3% in monthly variation.
According to the Institute of emission common to CEMAC countries, this performance is driven by Gabon which dominated the market during the month of March 2025, with an increase in the outstanding its titles of 44.3%. This, while during the same month, the Congo was the main transmitter of public titles with 29.9% of the world outstanding titles at the end of March 2025, against 29.7% and 20.8% for Gabon and Cameroon respectively.
Increased participation of SVTs
The Central Bank also reveals that March 2025 will also have been marked by an increase in the participation rate of Treasury values (SVT) to emissions from the values of the Treasury. This rate increased from 16.08% to 22.13% between February and March 2025. During the same period, the BEAC revealed a drop in average interest rates, starting from 8.20% in February 2025 to 7.58% at the end of March 2025.
In the analysis, the net decrease in the interest rate of interest in the first quarter of 2025 is attributed to the effects of the incentive monetary policy implemented by the BEAC, in particular with the recent drop in its main key rate. Which increased from 5% to 4.5%. Via this 0.5 point drop, the central bank wanted to facilitate the financing of CEMAC economies by a reduction in interest rates applied to economic agents by banks, which also operate as SVT on the BEAC securities market.
