Central African appointed as the new governor of Beac amid regional challenges
(Business in Cameroon) – Central African Yvon Sana Bangui has been appointed as the governor of the Bank of Central African States (BEAC), following a video conference held by the heads of state from the Economic and Monetary Community of Central Africa (CEMAC) on February 9, 2024.
He was officially installed in his new role on March 1, 2024, in Yaoundé along with the five other members of the new central bank government representing the six CEMAC countries. “The challenges are numerous. As you know, our sub-region faces many crises, including COVID-19, the war in Ukraine, and numerous other international crises and challenges. Our priority is to consolidate monetary and financial stability to maintain growth. I believe it is achievable. We must combine our efforts to meet the challenges we face today. However, there is preliminary work to be done. We need to review the situation and address the strategic focus areas that we must rely on to overcome several challenges… It’s about adjusting visions, programs, strategic approaches, and truly initiating the reforms needed to make our CEMAC zone resilient,” stated Governor Sana Bangui, outlining the priorities for his tenure.
However, alongside these priorities, the team led by Yvon Sana Bangui will face a pressing issue: the controversy surrounding the 2023 recruitment examination for senior management agents, whose admitted candidates have been waiting nearly a year to begin their training.
Despite irregularities and negligence identified in the recruitment process by the BEAC Board of Directors and the Central African Monetary Union (UMAC) Committee, which had instructed the then-governor to cancel the recruitment, Abbas Mahamat Tolli proceeded with the process until the results were announced. This stance was supported by the ruling of the Common Court of Justice of CEMAC, based in N’Djamena, Chad, which found no irregularities in the recruitment contest organization.