Claim: “The committee in charge for the circulation of the Cameroon currency have revealed that new CFA Bank Notes will be in circulation on December 15, 2022”.
Verdict: Correct
The exact date the notes will be in circulation isn’t a guarantee but it is certain that the notes will be in circulation before January 2023.
On July 20, 2022, a meting was held by the Ministerial Committee of the Central African Monetary Union (UMAC). A resolution from the meeting is a new assortment of banknotes and coins into the Central African sub-financial region’s system. These countries are (Cameroon, Congo, Gabon, Chad, CAR, and Equatorial Guinea) by the monetary issuing institution of central Africa, Beac.
By the end of 2022, the Economic and Monetary Community of Central African States (Cemac) will introduce this new CFA Bank Notes and coins. It attempts to enhance the features and security of these many forms of trade.
For further information on the topic check Journal du Cameroun other sources have this to say NkAFU Policy Institute
Why Did BEAC Decide to Introduce a New Series of Bank Notes 20 Years After Those of 2003?
Traditionally, BEAC the issuing institution of the six countries of CEMAC. They comprised of six countries (Cameroon, Central African Republic, Chad, Congo Republic, Equatorial Guinea and Gabon and), renews its range of banknotes every ten (10) years. The banknotes were first introduced in 2003 to mark the thirtieth anniversary of the Brazzaville Agreements.
On November 7, 2022, BEAC’s monetary authorities announced the introduction of new banknotes. These new banknotes will be unveil during the celebration of the fiftieth anniversary of the Brazzaville Agreements. From November 20 to 22, 2022 in Ndjamena (Chad); and put into circulation from December 16, 2022. Undoubtedly, the injection of a new range of banknotes and coins in the CEMAC zone has several facets. And can mean different things to different people. The purpose of this article is to inform public opinion about the main reasons for this change.
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