The Central Bank of Congo (BCC) and the Bank of Central African States (BEAC) signed a memorandum of understanding on February 28, 2026, in Kinshasa, marking a significant step towards strengthening regional financial stability. This agreement was signed on the sidelines of the Central Africa sub-committee meetings of the African Central Banks Association (ABCA).
This strategic partnership aims to intensify technical exchanges and bring the regulatory practices of the two institutions closer together. The agreement covers several essential areas, including banking regulation and supervision, modernization and securing payment systems, including cross-border transactions, and the fight against money laundering and terrorist financing. Cybersecurity and financial inclusion are also key elements of this agreement.
By establishing this technical partnership, the BCC is creating links with the BEAC, facilitating the coordination of regulation and payment systems. This helps to strengthen financial security and gradually prepare for technical convergence with neighboring countries, while maintaining its monetary sovereignty.
The governors of the central banks of Central Africa also participated in a meeting in Kinshasa, under the aegis of the BCC, where they discussed macroeconomic convergence, the harmonization of monetary policy frameworks, financial stability and coordination in the face of external shocks. They validated a report on compliance with macroeconomic convergence criteria, following technical work to assess regional performance.
The BEAC, created in 1972, is the common central bank for the six states of the Economic and Monetary Community of Central Africa (CEMAC), which includes Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad. The BEAC's missions are to promote financial stability, ensure the proper functioning of payment and settlement systems, manage official exchange reserves, conduct exchange rate and monetary policy, and issue fiduciary currency.
This agreement marks an important step towards deeper monetary and financial integration in Central Africa, strengthening economic resilience and promoting sustainable development in the region.
