The board of the Bank of Central African States (BEAC), the regional bank for the Economic and Monetary Community of Central Africa (CEMAC) member states, is asking the bank to launch a Central Bank Digital Currency (CBDC).
According to Bloomberg, BEAC was urged to advance the move by its board of directors in meetings held in July 2022 in Douala, Cameroon.
BEAC was established in 1972 under the official name Banque des États de l’Afrique Centrale (BEAC). The bank’s head office is in Cameroon. The bank’s member states include:
However, for the Central African Republic (CAR), one of BEAC member states, it has decided to introduce a national cryptocurrency, called SangoCoin, as part of a wider project to transform the countries financial system, making it more inclusive and attractive to investors.