By Stephen TADAHA with additional information from investiraucameroun
The Bank of Central African State (BEAC) has announced the injection of new coins into the CEMAC subregion between June and September 2024 in response to problems linked to coin shortages within the CEMAC zone. The announcement also stated that the FCFA 200 coin will also be in circulation. This will be the first time that the CEMAC zone will transact with 200 FCFA single coins.
The shortages have been resulting from the exportation of significant quantities of coins to Asian countries where they are used to manufacture other products, mostly pieces of jewelry. The exportation of these coins is carried out by illegal export organizations installed in the subregion. They acquire coins from game houses and other illegal networks, reports have confirmed.
According to reliable sources as revealed by the Investor au Cameroun, the new variety will be larger and will have new denominations, particularly, with the arrival of FCFA 200 coins.
The
new variety of coins will also have some slight blending modifications. The size of the new variety will be similar to the FCFA 50 coins of the 1960s.
The arrival of the new coins according to the same source, will not affect the existing ones. The two varieties will coexist as BEAC has no plans to demonetize the existing coins. To ensure its availability, BEAC also envisages passing the command of significant quantities that will resolve coin shortages in the subregion.
Source: Cameroon News Agency