The CEMAC Region

"Countries in Sub-Saharan Africa have weathered the global crisis better than expected…The region appears to be staging a robust recovery."
-The World Bank, 2011

CEMAC (highlighted in the map below) is one of the most economically promising regions of Africa. It regroups Cameroon, the Central Africa Republic, Chad, Equatorial Guinea, Congo and Gabon. It shares a long border and has extensive economic ties with the vast Democratic Republic of Congo.

The treaty instituting the CEMAC was signed on March 16, 1994 in Ndjamena, Chad. It replaced the UDEAC, Customs Union of the States of Central Africa. CEMAC aims at reinforcing the economic integration of the six countries in the area –Cameroon, Congo, Gabon, Guinea Equatorial Chad, and Central African Republic.

The six CEMAC countries have a combined population of 42.8 million people and GDP of CFA 44 500 billion or $89 billion in 2011. They share a common currency, the CFA franc, a common central bank, the BEAC and a common financial supervisory authority – the COBAC. The CFA Franc currency zone overall has been regrouping 14 mostly French-speaking, Western and CEMAC countries for over 45 years. The CFA franc is pegged to the Euro at a fixed rate of 1 Euro for 659.2980 CFA. CEMAC countries are also signatories of OHADA, which unifies their business laws. All six countries of CEMAC have recorded economic growth in 2010.

For more information about CEMAC please click here