Economy

BEAC adopts instant payment code for operators in CEMAC States.

Operators of accounts with BEAC can now use smart phones to effect instant payments

The Bank of Central African States, BEAC, has adopted a modern code through which operators of accounts with the Central Bank can now make instant payments using their smart phones.
This was the outcome of a meeting of the Board of Directors of the Central Bank that held in N´Djamena, Chad, on April 6.

The gathering was to adopt a single code to make the payment and movement of money easier for service users in the sub region.

According to Tahir Hamid Ngulin, who chaired the Board of Directors meeting, a QR Code was adopted to modernize and ease the payment system, in a global context characterized by economic tensions.

Apart from facilitating payments, he said the adoption will also help to reinforce financial stability at the sub regional level.

The Chairman said the move also highlights the determination of the Central Bank to keep on modernizing its operations by adopting digitalization on an accelerated basis.

Hamid Ngulin described the adoption as a critical milestone which the administration of the institution had crossed, adding that henceforth, payments are not only going to be more secure, but will be harmonious across all the six CEMAC member states.

He said the move is in line with the decision to modernize sub regional financial infrastructure, as economies of the community continue to struggle to evolve in an international environment marked by instability in markets, inflationary tensions, and currency fluctuations.

He said the BEAC administration had examined the grand strategic orientations of its institution, including monetary politics, financial stability, and regional growth perspectives, and urged governments of member States to strengthen collaboration and coordination to consolidate the collective resilience of their financial system.

He also called on governments to adopt a political monetary policy that spurs sustainable growth, without compromising mastery in the management of inflationary trends, especially in a context where limitations in budgetary maneuvers are bourgeon.

The Board also reviewed the performance of the Central Bank during the year ended, 2025. Noting that the institution recorded benefits amounting to 300 billion FCFA, as against 355 billion for the 2024 financial year.

Disclosing that the drop reflects adjustments made in the context of the regional macroeconomic realities and to constraints the region faces at the level of international markets.

They concluded that the code will not only enable economic operators make instant payments, but also reduce transfer costs, reinforce financial inclusion, increase interoperability between and among banking platforms, and mobile money services providers.

This article was first published in The Guardian Post Edition No:3766 of Monday April 20, 2026