The Central African sub-region will be governed by new foreign exchange regulations from January 1, 2022. The Governor of the Bank of Central African States (BEAC), Abbas Mahamat Tolli, announced on Wednesday the end of the moratorium granted to extractive sector companies resident in the Economic and Monetary Community of Central Africa (CEMAC) zone for December 31.

The end of the moratorium being for December 31, 2021, the entry into force of the new exchange regulations is January 1, 2022. According to the governor of the BEAC, the system which will soon be put in place for the application of the regulations of foreign exchange to companies in the extractive sector does not constitute a modification of the regulations in force, but proceeds to an operational adjustment of the methods of its implementation. Thanks to this provision, he said, the Central African sub-region recorded an upward trend in retrocessions between 2018 and 2020, rising from 3,277.84 billion FCFA to 7,914.36 billion FCFA, i.e. a increase of 141.45%. They reached, between January and October 2021, 6,323.77 billion FCFA.