The Central Bank of West African States (BCEAO) grants a period of two years to banks established in the UEMOA zone (West African Economic and Monetary Union) to comply with the capital threshold of 20 billion FCFA.

The BCEAO decision is part of the authorities' desire to strengthen the solidity and competitiveness of the banking sector. A press release published after the meeting of the Council of Ministers of the Union, held on December 21, 2023 in Cotonou, indicates that the minimum share capital of banks would be raised from 10 to 20 billion CFA francs, while that of financial credit institutions will be maintained at 3 billion. The measure aims to support the emergence of robust banks and to strengthen the resilience of the sector in the face of growing economic challenges. The application of this new threshold will also be effective for any new application for authorization as a bank.