FOUR THEMES WERE DEBATED, AMONG WHICH, "THE OVERLIQUIDITY OF BANKS AND THE TREATMENT OF BANKS IN DIFFICULTY"
28 Jun, 2024
From Friday, June 28 to Saturday, June 29, 2024 in Brazzaville (Congo), the participants in the 3rd edition of the Banker's Days of the Economic and Monetary Community of Central Africa (CEMAC), debated around four themes, namely: "the banking system of the sub-region: excess liquidity of banks and treatment of banks in difficulty"; "cybercrime: elements of combating the vulnerability of banks"; "the opportunities of the African Continental Free Trade Area (AfCFTA): state of play and implication of the CEMAC banking system"; and "the Credit Information Bureau (BIC): interest and implementation".
Opening the ceremony, the Congolese Minister of Economy and Finance of the host country, Mr. Jean-Baptiste ONDAYE, indicated that "the themes on the agenda of this edition are at the forefront of economic and financial news, both at the international and sub-regional levels. Because, these are issues of high professional scope with transversal implications. The relevant responses to these will contribute to the structural transformation of our economies and the strengthening of our competitiveness".
According to the speaker, "the banking system that we know was built in several stages. Throughout this process, the place and role of banks have become increasingly important in the economies of our States. Since then, it has been accepted that one of the fundamental functions of banks is to ensure the best possible allocation of available savings.Since then, it has also been accepted that the preservation of our banks is one of the primary requirements in view of the very strategic role they play in our economies. This is why the Bank of Central African States (BEAC) and the Central African Banking Commission (COBAC) each ensure, in their respective areas, the proper functioning of the banking system in the CEMAC zone." For his part, the Secretary General of the Federation of Professional Associations of Credit Institutions (FAPEC) of the six CEMAC member countries, based in Cameroon, Mr. Pierre KAM, a Cameroonian national, stated that "Africa is facing multiple severe shocks. In particular, the rise in food and energy prices, caused by geopolitical tensions; and the climate problems affecting our Agriculture, at a time when our industrial fabric is still fragile. This restrictive environment has led to a slowdown in the growth of Africa's real gross domestic product (GDP), which fell from 4.1% in 2022 to 3.1% in 2023. However, the outlook is favorable with growth projected at 3.7% in 2024 and 4.3% in 2025."
As a reminder, the first edition of the CEMAC Days was held in Libreville (Gabon) in 2022. Its objective was to reflect on the conditions for the recovery of the post-Covid-19 economy. The second edition took place in Malabo (Equatorial Guinea) in 2023. Its theme was: "Banks and financing of CEMAC integrative projects". The aim was to find solutions for a more dynamic and effective intervention by banks in the CEMAC growth and integrated development process.
It should be noted that the splendor of the opening ceremony of the Brazzaville Days was enhanced by the presence of the Congolese Minister of Budget, Public Accounts and Public Portfolio, Ludovic NGATSE; Vice-Governor of the BEAC, the Congolese Michel DZOMBALA; the President of the Professional Association of Credit Institutions of Congo (APEC), Calixte Médard TABANGOLI; and the Secretary General of the Central African Banking Commission (COBAC), the Congolese Marcel ONDELE.
The Communication Unit of the Ministry of Economy and Finance
