CEMAC: BEAC announces the arrival of a new range of banknotes and coins
CEMAC: BEAC announces the arrival of a new range of banknotes and coins. The monetary issuing institute is indeed preparing to inject into the banking system of the Central African sub-region (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea), a new range of banknotes to replace denominations that are currently legal tender.
The said project is part of the resolutions taken by the Ministerial Committee of the Central African Monetary Union (UMAC) at the end of a double ordinary and extraordinary session on July 20, 2022, in Douala.
This new series of banknotes and coins of the Economic and Monetary Community of Central Africa (Cemac) will be launched by the end of 2022, to improve the characteristics and security of these different means of exchange.
This initiative in accordance with Article 33 of the BEAC statutes, which gives it the power to inject new denominations if necessary, will take place 20 years after the introduction of the last range of 2002, currently in circulation. Until now, changes in the rank of banknotes in the BEAC occurred every 10 years, more precisely 1972, 1982, 1992, and 2002, with the exception of 2012.
In 2021, the year of the announcement of this project, Beac officials indicated that the model specimens ” are likely to evolve during the banknote origination phase, in order to take into account technical and/or property constraints. intellectual ”.
Just like the 2002 banknotes, still, in circulation, the BEAC wants to improve the technical characteristics of the denominations to the same level of European standards, as well as the banknote formats which have also been designed with a little more aesthetics. Still, in 2021, the BEAC indicated that it had added the latest technological innovations in the manufacture of banknotes to be able to avoid counterfeiting or counterfeit banknotes.
Nevertheless, it is hard not to believe that the images that were leaked are samples from the BEAC. Indeed, besides the central bank’s coat of arms, the inscriptions on the XAF500, 1000, 2000, 5000, and 10,000 banknotes pictured are in French, English, Arabic, and Spanish, which is in line with the BEAC’s ambition to promote, for the first time, the official languages used in the CEMAC region.