2, May 2024
BEAC sets two-week deadline to withdraw CFA150bn from banks in inflation battle 0
The Central Bank of Central African States (Beac) kicked off its 4th round of bond issuance on April 29, aiming to tighten bank liquidity. Through three bond issuances scheduled between April 29 and May 13, the central bank aims to withdraw a total of CFA150 billion from commercial banks’ coffers.
The first three rounds of bond issuance saw rather mixed success. Out of seven operations, at least two were declared unsuccessful due to lack of subscriptions, while almost all others barely exceeded a 30% demand coverage rate. Since the launch of these operations in February 2024, only the one on April 22, totaling CFA50 billion, saw remarkable success. This offer saw a coverage rate of 156% as reported by the central bank.
Following the increase in key interest rates, suspension of liquidity injection operations, and intensified weekly liquidity withdrawal operations, Beac bonds have become the central bank’s new tool to reduce bank liquidity and restrict access to credit. This is aimed at reducing the share of inflation of monetary origin (20%) in the Cemac zone.
Source: Business in Cameroon



















2, May 2024
Diocese of Buea: Bishop Bibi recognizes pastoral agents’ “hard work, sacrifices” 0
On the occasion of the annual celebration of the International Labor Day commemorated May 1, Bishop Michael Miabesue Bibi of Cameroon’s Buea Diocese has recognized with “gratitude and appreciation” the sacrificial efforts pastoral workers make in serving the people of God in his Episcopal See.
In a statement issued Wednesday, May 1, Bishop Bibi recalls that Labour Day “honors the contributions and achievements of workers worldwide and recognizes their importance in building societies and economies.”
“It’s a time to acknowledge the hard work and dedication of workers across various sectors and industries,” the Cameroonian Catholic Bishop says.
He thanks pastoral agents in Buea Diocese, saying, “As you celebrate Labour Day with your loved ones, I express gratitude and appreciation for your hard work and sacrifices to the Diocese.”
“Thank you for your endless support and commitment to your duties,” he said, and added, “I equally recognize your contributions to the growth of the different institutions in our Diocese.”
The Cameroonian Catholic Bishop, who started his Episcopal Ministry in March 2017 as Auxiliary Bishop of Cameroon’s Bamenda Archdiocese recognizes the May 1 Feast of St. Joseph the Worker.
“St. Joseph the worker whose memorial we celebrate today was loyal, hardworking and committed,” Bishop Bibi says, and implores, “May he intercede for us all to work devotedly with Joy.”
“May God Our Father and the Lord Jesus Christ in Communion with the Holy Spirit give you grace and peace,” he further implores in his May 1 message.
Celebrated every year on May 1 since 1890 in over 80 countries, Labor Day recalls the “contributions of workers”, seeking to promote “their rights, and commemorate the labor movement.”
This year, the focus is on ensuring safety and health at work in a changing climate, a theme that underscores the critical importance of addressing the impacts of climate change on workplace safety and occupational health.
Source: aciafrica