Fiduciary circulation in the Economic and Monetary Community of Central Africa (CEMAC) increased by 7.3% in 2025. According to data from the Bank of Central African States (BEAC), the value of banknotes and coins in circulation reached 5,755 billion FCFA as of December 31, 2025, compared to 5,363 billion FCFA a year earlier.
This increase represents an injection of nearly 392 billion FCFA into the economies of the sub-region. Fiduciary circulation corresponds to the face value of monetary instruments in circulation, which is the difference between the total amount of banknotes and coins issued and the reserves held by the Central Bank.
Cameroon alone accounts for 44% of the fiduciary circulation in CEMAC, with 2,554 billion FCFA. Chad comes in second place with 1,174 billion FCFA, followed by Congo (645 billion), Gabon (614 billion), Equatorial Guinea (424 billion), and the Central African Republic (343 billion).
This concentration in Cameroon reflects its position as the leading economy in CEMAC, as well as the importance of cash transactions in commerce, services, and informal circuits. The increase in cash may indicate an intensification of economic activities and a rise in consumption. However, it also highlights the strong dependence on cash in the CEMAC zone, where the use of electronic payment instruments remains uneven.
This situation poses a double challenge to the monetary authorities: how to encourage the digitalization of payments while taking into account the central role of cash in the real economy, and how to improve the traceability of transactions in a context where a significant portion of activity remains informal? The rise in fiduciary circulation illustrates a regional paradox, where digital technology is progressing, but cash remains an essential support for daily activity.
Despite efforts to encourage reduced cash use, it remains prevalent in the CEMAC zone.
