The report on payment services in the CEMAC published by the Bank of Central African States (BEAC) mentions that the value of bank transfers made in Cameroon has increased spectacular by 77.97% in 2023, reaching 33 116.9 billion FCFA.

The increase in the value of bank transfers occurs despite a decrease of 13.08% in the number of transactions, from 15.2 million in 2022 to 13.3 million in 2023. In 2022, the total value of transfers amounted to 18,607.6 billion FCFA. For the BEAC, this evolution reflects the dynamism of national economic activity. According to The report, “Wire transfers are the most widely used means of payment used, both by businesses and individuals, for account levelling operations and the settlement of salaries. They concern intra and interbank transactions.”

Cameroon thus consolidates its status as an economic locomotive for Cemac, an area bringing together the Cameroon, Congo, Gabon, Gabon, Equatorial Guinea, Equatorial Guinea, Chad and the Republic Central African. The Cameroonian economy, the most diversified in the subregion, is distinguished by a dense industrial fabric and an extensive banking network, representing approximately 40% of the regional total. This performance testifies of a rise in electronic and formal transactions, scope through the rise of digital payments, increasing banking and vitality of the private sector. It also highlights the resilience of the system. financial situation in Cameroon, in a context marked by moderate inflation and regional currency reforms.