the diktat of Cameroon, Gabon and big business

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After the timid recovery observed during the year 2021, at the end of the episode of the coronavirus in 2020, economic activity started to rise again in the CEMAC countries during the year 2022. This increase in activities, materialized by a GDP growth in CEMAC of 3.2% in 2022, against 1.5% in 2021, caused an increase in the volume of credits put in place by banks and financial institutions for the benefit of economic agents .

According to the figures published by the Bank of Central African States (Beac) in its “Bulletin of statistics on the costs and conditions of credit in CEMAC”, it appears that the new loans set up in the first half of 2022 in the Cemac reached 3,407.8 billion FCfa, against 3,057.6 billion FCfa during the same period in 2021. The comparison of the financing of the economy during the two periods shows an increase in the volume of credits of 350, 2 billion FCfa, or 11.45%.

The Beac Bulletin reveals above all that two CEMAC countries particularly stimulated the credit market in the first half of 2022. This is Cameroon, the country with the largest number of banks, financial institutions and establishments microfinance in CEMAC. Alongside Ameroun, whose banks granted 42% of financing to the CEMAC economy, we find Gabon, the country of origin of 20.82% of the credits set up in the CEMAC countries in the first semester of 2022. Credit institutions in Congo, for their part, set up 14.86% of the loans granted in CEMAC during the period analysed.

In addition, informs the Bulletin of statistics of the Beac, “large companies have once again mobilized the majority of competitions with 43.13% of the total volume, followed by individuals (27.18%), SMEs (25, 71%), other legal entities (0.01%) and finally public administrations and decentralized communities (3.97%)”. If, as usual, large companies are the main beneficiaries of the increase in credit activity in CEMAC in the first half of 2022, the share of financing mobilized by this category of borrowers has fallen sharply. It was 58% of the total volume in the 2nd half of 2021, i.e. a reduction of 14.87% in six months.

This drop in the volume of loans mobilized by large CEMAC companies during the first half of 2022 mainly benefited individuals and small and medium-sized enterprises (SMEs). Indeed, during the period analysed, loans to individuals represented 27.18%, while they represented only 16.2% between January and June 2021. This 11% increase continued to place individuals ahead of SMEs. on the scale of preferred customers of CEMAC banks and financial institutions. Indeed, although the credits set up for their benefit increased by more than 10% in the first half of 2022, rising from 15.5% to 25.71% in six months, CEMAC banks have once again trusts individuals and large companies more than SMEs, whose difficult access to bank financing is an open secret.

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