Africa: AFI Extends a Warm Welcome to the Bank of Central African States as Its Newest Principal Member

The Bank of Central African States, known as the Banque des États de l’Afrique Centrale (BEAC), has taken a significant step by becoming a Principal Member of AFI. BEAC, established in 1972, serves as the central bank for the six nations that constitute the Central African Economic and Monetary Community (CEMAC): Cameroon, Central Africa Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo.

With this membership, BEAC’s leaders and experts gain access to the extensive AFI network, enabling them to expedite progress in the realm of financial inclusion. This newfound collaboration includes involvement in the African Financial Inclusion Policy Initiative (AfPI), a pivotal platform within AFI that empowers African members to formulate and advance financial inclusion policies, regulatory frameworks, and knowledge-based resources. AfPI also facilitates the coordination of regional capacity-building initiatives and peer learning endeavors.

Dr. Alfred Hannig, the Executive Director of AFI, expressed his enthusiasm about this development, stating, “CEMAC was the missing piece in the AFI family, and so we are delighted to welcome BEAC to our global network. Their contribution and perspective will be of great value, and through participating in AFI, financial inclusion leaders, strategies, and initiatives in all six countries will benefit.”

For a comprehensive list of AFI members, please visit AFI’s official website.