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The BEAC and CEMAC’s Monetary and Economic Harakiri (By Leoncio Amada NZE)

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Despite potentially being an important market of approximately 59 million inhabitants and abundant natural resources, the CEMAC zone continues to be the least developed with the worst fiscal and monetary policies on the African continent

JOHANNESBURG, South Africa, September 30, 2022/APO Group/ — 

By Leoncio Amada NZE, Executive President of the African Energy Chamber (www.EnergyChamber.org) CEMAC zone, President of APEX INDUSTRIES SA

The global health and economic crisis caused by the COVID-19 pandemic impacted the economic foundations of the CEMAC zone in an unprecedented way due to the limited integration and economic diversification of the region. The six countries from the union – Cameroon, Equatorial Guinea, Gabon, Chad, the Central African Republic and the Republic of Congo – share a regional economy dominated mainly by hydrocarbons, which represent 80% of export revenues and 75% of tax revenues, according to the World Bank and the International Monetary Fund. From the six member states, only Cameroon is a net importer of oil. However, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon are more dependent on oil than Cameroon.

The Promised Economic Diversification that has Never Arrived

For decades, governments from CEMAC countries have been talking about economic diversification programs that have not been as successful as we all hoped. The reason: excellent economic diversification plans and programs have been prepared on paper, but the private sector’s development has not kept pace: one cannot speak of diversification and economic growth in the absence of a strong national or regional business fabric that generates employment and business opportunities for nationals and foreigners. In short, the private sector must have the weight it deserves; it must be the thermometer with which the temperature and vigor of economic activity is measured; and, above all, it must be the master of the orchestra in the design and articulation of any macroeconomic program in the medium and long term for it to has a minimum chance of prospering.

Despite potentially being an important market of approximately 59 million inhabitants and abundant natural resources, the CEMAC zone continues to be the least developed with the worst fiscal and monetary policies on the African continent.

Out of 190 countries in the World Bank’s “Doing Business” index in 2020, the six CEMAC countries are in the worst positions with Cameroon in position 167; Gabon at position 168; Equatorial Guinea in position 178; Chad at position 182; Central African Republic in position 184; and Republic of the Congo at position 180. With the scenario described above, it is not surprising that the flow of foreign investment to the region has decreased exponentially in recent years.

A Sinking Ship

There are moments when it becomes necessary to call things by their name, moments when the silence is not an option, moments when it is necessary to denounce and expose the bad actors that are holding back the development of the African continent, moments when we must put the general public interest above anything else.

The time has come for the BEAC to remove its suffocating boot from the neck of the small entrepreneur and businessman from the CEMAC area

The time has come for Mr Abbas Mahamat Tolli, Governor of the BEAC, to respond to regional and international public opinion on certain issues related to the implementation of his disastrous #BEACForex Regulation in the CEMAC zone.

The regional business community, foreign investors, partners in development and the general population of the CEMAC region are experiencing unbearable pain because of irresponsible monetary policies that are ruining thousands of lives and businesses. The excuse for the implementation of clearly disastrous and Neanderthal-style monetary policies to safeguard the parity of a currency whose economy is in free fall no longer convinces anyone.

Does BEAC’s Governor work for the strengthening and development of CEMAC’s business ecosystem, or is he at the service of certain interests whose geostrategic objective could be to see the region totally financially destroyed and indefinitely in the economic mess in which the six countries find themselves?

The African Energy Chamber (AEC) invites the Governor of BEAC and his team to participate in the upcoming African Energy Week (AEW) 2022 that will take place from October 18 to 21 in Cape Town, where, among other things, issues related to the economic and financial spectrum of the CEMAC area will be addressed, to give him the possibility of using a powerful platform such as #AEW2022 to give explanations to the African and global business community about the monetary and financial objectives pursued in the medium and long term with the implementation of disastrous policies that the BEAC is enforcing for the macroeconomic interests of the subregion.

Need for an Urgent Intervention of Public Authorities

The AEC invites the Heads of State and Finance Ministers of the #CEMAC zone to adopt corrective measures that would mitigate the unnecessary economic damage caused in the region by the implementation of the disastrous and irresponsible BEAC’s Foreign Exchange Regulation – an issue that has become a true nightmare for businessmen and women who generate national wealth and employment in the subregion. A monetary policy that constitutes today the main obstacle for the attraction of foreign direct investment into the region and blocks any attempt or maneuver of economic recovery.

A monetary and financial system conceived and created more than four decades ago and that has not been adapting itself to the economic realities of a globalized, dynamic and increasingly interconnected and interdependent world, cannot respond or face the complexities that derive from the interaction between economic actors of the subregion with the outside world.

The time has come for the BEAC to remove its suffocating boot from the neck of the small entrepreneur and businessman from the CEMAC area.

The time has come for CEMAC economies to take advantage of incentives offered by the African Continental Free Trade Agreement for their development and diversification.

And, above all, the time has come for Mr. Abbas Mahamat Tolli to step aside from his position as Governor of the BEAC and allow people with the macroeconomic vision that the current times require and that the CEMAC zone deserves.

CEMAC businessmen and women are simply crying out: “We want to breath.”

Distributed by APO Group on behalf of African Energy Chamber.

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West African Development Bank (BOAD) and PROPARCO Launch a Landmark €200 Million Cross-Financing Operation to Boost the Private Sector in the West African Economic and Monetary Union (WAEMU) Region

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This structure directly addresses current challenges related to reforming the global financial architecture by introducing an innovative and catalytic financial instrument

Together with BOAD, we are reaching a major milestone in our commitment to boosting financing for African economies, particularly within the WAEMU region

NAIROBI, Kenya, May 14, 2026/APO Group/ –On the sidelines of the Africa Forward summit, the West African Development Bank (BOAD) (www.BOAD.org) and PROPARCO, a subsidiary of the AFD Group, announced the signing of an unprecedented €200 million financing agreement (equivalent to approximately CFAF 131 billion). Structured by Galite as a cross-currency transaction between the euro (EUR) and the CFA franc (XOF), this operation is a global first in both its nature and ambition.

 

This structure directly addresses current challenges related to reforming the global financial architecture by introducing an innovative and catalytic financial instrument. It enables:

More efficient allocation of resources through expanded access to the XOF market, helping diversify financing options for local businesses;

Greater stability through support for the WAEMU region’s foreign exchange reserves, ensuring stronger macroeconomic resilience;

Direct impact through the financing of transformative private-sector projects, a key driver of job creation in the region.

Françoise Lombard, Chief Executive Officer of PROPARCO, stated:

“Together with BOAD, we are reaching a major milestone in our commitment to boosting financing for African economies, particularly within the WAEMU region. This initiative is fully aligned with the momentum to reform the development finance architecture by providing a tangible solution to increase the mobilization of local-currency resources in support of the private sector and local economies.

I am delighted by this partnership, which embodies a truly win-win approach and reflects our shared determination to act with ambition and pragmatism to sustainably support the development of the private sector across WAEMU economies, particularly our clients in the region, to whom we will be able to offer more loans denominated in CFA francs.”

Serge Ekué, President of BOAD, stated:

“The partnership between BOAD and PROPARCO reflects the quality and depth of our strategic cooperation.

Through this initiative, BOAD is reaffirming its role as a mobilizer of resources by attracting additional investment for the benefit of the region. Expanding the range of available financing tools is essential to sustainably support the transformation of WAEMU economies.

This transaction marks an important milestone in our collective ability to channel greater financing toward projects delivering strong economic and social impact across Africa.”

 

Distributed by APO Group on behalf of Banque Ouest Africaine de Développement (BOAD).

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Governor of the Central Bank of Egypt and President of Afreximbank Hold a Press Briefing on Egypt’s Ongoing Preparations to Host the 33rd Afreximbank Annual Meetings in Alamein

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The briefing underscored the strong strategic partnership between Egypt and Afreximbank, while highlighting the Bank’s support for key sectors, including financial services, trade, industrial infrastructure, manufacturing, oil and gas, telecommunications, power, and construction

H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), and Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank (www.Afreximbank.com), held a joint press briefing at the CBE’s headquarters on 13 May 2026 to address preparations for 33rd Afreximbank Annual Meetings (AAM2026). The AAM2026 will be held under the patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, in Alamein city from 21 to 24 June 2026.

Attended by over 100 local and international media representatives, both in person and virtually, the briefing provided updates on preparations for AAM2026, expected participation, and Egypt’s role as host country for one of Africa’s leading annual gatherings focused on advancing the continent’s economic transformation.

 

In his remarks, H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt, reaffirmed Egypt’s commitment to the successful hosting of the AAM2026 and emphasised the country’s readiness to host the event as well as its long-standing partnership with Afreximbank to support Africa’s economic development, trade and investment.

 

Mr Abdalla said: “Egypt is honoured to host the 33rd Afreximbank Annual Meetings in Alamein, reflecting our continued commitment to supporting Africa’s economic integration, trade expansion, and sustainable development.”

He also noted that these Meetings represent a high-level platform for dialogue and the exchange of views on the future of African economic and financial cooperation.

He added: “The Meetings extend beyond conventional discussions to advance key continental priorities, including trade finance, regional integration, and the pressing need to reform the global financial architecture to better reflect the development needs of emerging economies.

Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, expressed his appreciation to H.E. Mr. Hassan Abdalla for his strong support and commitment to hosting AAM2026 in Alamein and for the efforts by all relevant institutions in coordinating these meetings in Egypt.

 

“Egypt and Afreximbank share a common vision to accelerate Africa’s economic development, industrialisation, and widespread economic prosperity across the continent.

 

“AAM2026 will provide a valuable opportunity to strengthen partnerships, unlock investment opportunities, and advance discussions on intra-African trade, Africa’s financial sovereignty, and its economic resilience in an increasingly complex global environment”.

Egypt and Afreximbank share a common vision to accelerate Africa’s economic development, industrialisation, and widespread economic prosperity across the continent

 

Dr Elombi added that “Through our Annual Meetings, Afreximbank aims to identify priority projects and actionable programmes that will accelerate the transformation of Africa’s trade infrastructure. Africa’s pace of growth will be driven by industrialisation and intra-African trade, and achieving this will require significant improvements in processing, logistics, and importantly, policy support from governments.”

 

The briefing underscored the strong strategic partnership between Egypt and Afreximbank, while highlighting the Bank’s support for key sectors, including financial services, trade, industrial infrastructure, manufacturing, oil and gas, telecommunications, power, and construction.

 

Additionally, the press briefing outlined the significant opportunities associated with Egypt hosting AAM2026, including enhancing the country’s position as a regional financial and business hub, supporting the Meetings, Incentives, Conferences and Exhibitions (MICE) sector, creating new opportunities for Egyptian businesses, investors and the broader private sector, as well as providing a major boost to tourism in Alamein.

 

Dr Elombi said that the Bank has provided approximately US$9.5 billion in financing to Egypt over the past three years. He also referenced the groundbreaking of the Afreximbank African Trade Centre (AATC) in New Administrative Capital in December 2025, noting that the landmark US$250 million development will strengthen Egypt’s role as a regional hub for trade facilitation, payments, logistics, and SME development.

 

Dr Elombi further outlined plans for the proposed pan-African Gold Bank, an initiative designed to formalise Africa’s gold value chains, strengthen central bank reserves, and reduce the continent’s dependence on offshore refining and external trading centres.

 

Over the years, Afreximbank’s Annual Meetings have become one of the leading platforms for shaping dialogue on Africa’s economic future and advancing intra-Africa trade. The 33rd Afreximbank Annual Meetings are expected to bring together Heads of State, government ministers, central bank governors, business leaders, academics, entrepreneurs, private sector investors, and development partners. They will deliberate on the key issues shaping Africa’s economic future and trade agenda, while advancing practical solutions for the continent.

 

The AAM2026 programme will offer policy discussions, plenary sessions, business and investment forums, deal-signing ceremonies, major announcements, networking events, bilateral meetings, and forums on intra-African trade and the African Continental Free Trade Area (AfCFTA). It will also feature presentations on trade finance, industrialisation, energy, infrastructure, and digital transformation.

Distributed by APO Group on behalf of Afreximbank.

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DHL Express Sub-Saharan Africa (SSA) celebrates its 53rd Transported Asset Protection Association’s (TAPA) Facility Security Requirements (FSR) certification

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DHL Express SSA is the most TAPA certified company in the Region and was the first company in the TAPA EMEA Region to attain multi-site certification for a Region

LAGOS, Nigeria, May 14, 2026/APO Group/ —
  • Increases TAPA certifications across the Region, total of 53 sites across Sub-Saharan Africa
  • DHL Express the most TAPA-certified company in SSA
  • Lekki contributes to DHL Express surpassing the 500 facility milestone in TAPA certifications worldwide
  • Part of global €250 million investment in world-class security infrastructure by DHL Express

 

DHL Express (www.DHL.com) has announced that its Service Center in Lekki (Nigeria) has officially been certified according to the Transported Asset Protection Association’s (TAPA) Facility Security Requirements (FSR). This certification contributes to the over 500 TAPA certified sites globally and increase the certifications across Sub-Saharan Africa to 53 sites across 19 countries as part of a multi-site certification.

 

As the world’s most TAPA-certified logistics provider, DHL Express continues to set the benchmark for world-class supply chain security. The certification of 53 facilities in SSA strengthens a network that has already exceeded 500 TAPA-certified facilities globally, supported by a worldwide EUR250 million investment in advanced, industry-leading security technologies and processes. DHL Express SSA is the most TAPA certified company in the Region and was the first company in the TAPA EMEA Region to attain multi-site certification for a Region.

 

Anthony Beckley, VP Network Operations and Aviation at DHL Express SSA said: “Security is a cornerstone of DHL’s operations and a critical enabler of trade across Sub‑Saharan Africa. By continuously strengthening security standards at our facilities across the region, we help protect our customers’ shipments while building confidence in the supply chains that connect Africa to the world. As African businesses expand their reach into global markets, they rely on trusted, resilient, and world‑class logistics partners. We are proud to support this growth through industry‑leading security practices, underscored by our achievement of 500 TAPA certifications worldwide.”

Security is a cornerstone of DHL’s operations and a critical enabler of trade across Sub‑Saharan Africa

 

TAPA (Transported Asset Protection Association) certification is a comprehensive process of membership, verification, and auditing designed to ensure the security of customer shipments throughout the supply chain. It is based on rigorous standards such as FSR (Facility Security Requirements) and TSR (Transport Security Requirements), which can be achieved through independent audits or, for Level 3 (basic), via self-certification by a registered Authorised Auditor (AA), followed by submission of documentation to TAPA for validation and issuance of a certificate typically valid for three years. The Security Requirements established by the Association are recognised worldwide as industry benchmarks, making TAPA certification an essential mark of excellence for customers seeking the highest levels of reliability and protection.

 

This achievement not only affirms DHL Express as the global leader in secure logistics but also highlights Nigeria’s strategic contribution to the company’s security excellence in SSA.

 

Adrian Whelan, SVP and Head of Global Security at DHL Express, commented: “The TAPA certification of Lekki and the 53 sites TAPA certified across the SSA Region highlights DHL Express’ commitment to providing our customers in Africa with world-class security infrastructure. Customers want to ship their valuable goods through a secure and resilient supply chain, and DHL Express provides the most secure and resilient supply chain, not only in SSA but globally”.

 

The TAPA FSR certification is a central element of the broader security strategy of DHL Express. As global supply chains become increasingly complex, certified operations ensure consistent protection, risk mitigation, and resilience across the entire DHL network.

 

The achievement of the TAPA FSR certification was formally celebrated on May 13 during an event hosted at the DHL Express Lekki facility in Lagos, Nigeria. The event brought together private and public sector partners who share the aim of building resilient, transparent, and high-standard logistics ecosystems across SSA.

Distributed by APO Group on behalf of DHL Express.

 

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