Lending up 6% in the CEMAC region
However, the volume of deposits fell by two per cent.The volume of loans granted in July 2016 in the CEMAC zone increased by 5.9 per cent over the same period in 2015 to reach 8,323 billion CFA francs (€12.7 billion), according to new statistics from the Bank of States of Central Africa (BEAC).
However, the volume of deposits in the region's banks fell by two per cent to 9,827 billion CFA francs.
According to the BEAC, quoted by the Ecofin agency, this reduction in bank deposits can be explained by a decrease in the deposits made by the six
member states of the CEMAC and by companies within their portfolio.
This is itself due to lower government revenues resulting from the fall of commodity prices.
Oil accounts for between 50 and 80 per cent of government revenues in Gabon, Chad, Equatorial Guinea and Congo.