BDEAC

AFRICA BDEAC will buy shares in Afreximbank

(Invest in Africa) - Cameroon's Minister of Finance (Minfi), Louis Paul Motaze, chaired the board of directors of the Central African States Development Bank (BDEAC) in Congo-Brazzaville on 9 August. During this meeting, we learn, the board approved BDEAC's proposed participation in the capital African Export-Import Bank (Afreximbank). "The Bank's participation in the capital of this continental institution is fully consistent with its 2017-2022 strategic plan, particularly in light of its new trade finance policy in the sub-region. This acquisition of participation also responds to the cross-cooperation policy adopted by the two institutions under the memorandum of understanding signed on 6 March 2018 ". explains BDEAC. However, it does not specify the level of participation in Afreximbank's capital. Based in Cairo and operating in Abuja, Abidjan, Harare and Kampala, Afreximbank is a supranational financial institution. As of 31 December 2017, the authorised share capital of this bank amounted to $ 5 billion (almost FCFA 3 trillion). It consists of 500,000 ordinary shares of USD 10,000 (almost FCFA 6 million) each. The condensed financial statements for the year ended 31 December 2018 show total comprehensive income of $ 285.4 million. BDEAC and Afreximbank have regularly financed projects in tandem. For example, on 11 July 2018, they signed a EUR 500 million (approximately FCFA 327.5 billion) co-financing framework agreement in favour of CEMAC. This was in response to numerous requests for project funding from countries in the sub-region of Cameroon, CAR, Congo, Gabon, Equatorial Guinea and Chad. africaaedic.eu

BANQUE DE DÉVELOPPEMENT DES ÉTATS DE L'AFRIQUE CENTRALE - BDEAC

BDEAC Engl. Central African States Development Bank Multilateral development bank constituted on 3.12.1975 with headquarters in Brazzaville (Congo) by the six Central African countries, all from the French franc area, which form a monetary union, UMAC franc CFA: Cameroun, Chad, Gabon, Equatorial Guinea, Central African Republic, Republic of Congo of CEMAC (Communauté économique et monétaire d'Afrique centrale), later expanded participation to: France, Germany, Kuwait, Banque des Etats d'Afrique centrale (BEAC) African Development Bank (AfDB). The six CEMAC countries hold 72.5%. The share capital amounts to 57.2 billion CFA francs (€ 87.2 million). After a long period of organisation, the Bank started financing operations in 1992. Its mission is to promote the economic and social development of the six CEMAC countries and mainly the financing of multinational projects in the productive sector (modernisation investments, conversion, privatisation of enterprises), income-generating infrastructure and basic rural development investments, and all operations that can contribute to economic integration and the achievement of the Community's objectives. africaaedic.eu

italiacamerun Aedic association

A.E.D.I.C.
Cameroon - Yaounde
Italy - Gorizia

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