Banks operating in the Central African Economic and Monetary Community (CEMAC) can now extend their activities to all 6 member countries without the need for new authorization. The application of this decision began on 1 ^January 2025.

Now, a bank authorized in one of the six CEMAC states (Gabon, Republic of Congo, Chad, Equatorial Guinea, Cameroon, Central African Republic) can open branches and offer its services in other countries of the organization without going through new administrative procedures. The decision was taken by the Central African Banking Commission (COBAC), and is inspired by the model already in place in the West African Economic and Monetary Union (UEMOA) since 1999. The aim is to facilitate the expansion of banks and to harmonize a sub-regional financial market of more than 60 million consumers

According to Idriss Linge, Editorial Director at the Ecofin Agency and a keen expert on the CEMAC banking market, “the unique approval is an opportunity for banks in the region, which will be able to develop their activities more quickly in several countries without being hampered by long and complex procedures. This is what is consistent for a common currency area. This gives banks access to 60 million consumers.” One of the main challenges of the reform will be to avoid an excessive increase in market concentration.