Investing in
the CEMAC
area
The treaty establishing the Central African Economic and Monetary Community (CEMAC) was signed in 1994, and came into force in 1999. CEMAC now comprises six states: Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad. CEMAC's main mission and “raison d'être” is to develop an integrated area and promote harmonious development.
This vision is articulated around the PER (Regional Economic Programme), whose stated objective is to make CEMAC "an integrated, emerging economic area where security, solidarity and good governance reign" by 2025.
A brief history of CEMAC
A brief history of CEMAC
- 29 June 1959, Creation of the Equatorial Customs Union (UDE);
- 1961, Cameroon joins the EDU;
- 8 December 1964, signing in Brazzaville of the treaty establishing the Central African Customs and Economic Union (UDEAC);
- 24 August 1983, Equatorial Guinea joins the UDEAC;
- 16 mars 1994, signing in N'Djamena, Chad, of the Treaty establishing the Central African Economic and Monetary Community (CEMAC);
- June 1999, entry into force of the treaty establishing CEMAC;
- 2010, the introduction of the rotation of the first heads of the institutions, whose term of office is 5 years and non-renewable;
- October 2017, signature by all CEMAC member states of the circular instituting the free movement of people and goods within the CEMAC area for all community nationals.
- November 2020: Organisation of the 1st lenders' Round Table
The six States of the CEMAC
- CAMEROON
- CENTRAL AFRICAN REBUBLIC
- CONGO
- GABON
- EQUATORIAL GUINEA
- CHAD
WHAT IS CEMAC?
Under the terms of Article 2 of its founding treaty, CEMAC is made up of two Unions:
- The Central African Economic Union (UEAC), whose mission is to harmonise the regulations in force in the member states in order to boost trade and facilitate the convergence of economic policies within the sub-region;
- The Central African Monetary Union (UMAC), which is responsible for the monetary convergence of member states that share the same currency.
THE CEMAC VISION
CEMAC's Vision today is based on the Regional Economic Programme (PER), the aim of which is to make CEMAC "an integrated, emerging economic area where security, solidarity and good governance reign" by 2025. CEMAC's main mission is to develop an integrated area and promote harmonious development.
Targeted goals :
- Ensure stable management of the common currency (CFA Franc);
- Foster a conducive environment for economic activities and businesses at large.
- Harmonize national sectoral policies to achieve ever-closer integration.
- Foster a stronger union among the peoples of the member states to enhance their geographical and human solidarity.
- Facilitate national markets by removing barriers to intra-community trade.
- Coordinate development programs and align industrial projects.
- Establish a genuine common market.
The presidency of CEMAC rotates annually and is held by the Head of State of one of the member countries. Since March 17, 2023, His Excellency Faustin-Archange Touadéra, President of the Central African Republic, holds the position of President of CEMAC.
Infrastructure
challenges
Created on 16 March 1994, the Communauté Économique et Monétaire de l'Afrique Centrale (CEMAC) comprises six member countries covering an area of 3,020,372 km2 with a population of around 52 million people. It extends over a wide range of climates, from the forests of the Congo Basin in the south to the desert areas of Chad and has over 1,800 km of coastline on the Atlantic Ocean.
A young and fast-developing region, CEMAC is the least infrastructure-equipped and least integrated Regional Economic Community on the continent.
Infrastructure development is crucial to unlocking its immense potential and to foster integration.
To meet this challenge, CEMAC's Regional Economic Programme (PER) aims to promote economic integration, growth and poverty reduction in Central Africa through the development of regional infrastructure and human capital.
The aim of the Regional Economic Programme's Integration Projects is to set up basic transport, electricity and telecommunications infrastructures within the CEMAC region, without which there can be no economic take-off. These Integrative Projects also take into account the critical levers of competitiveness in modern economies, namely the development of human capital.
Les Projets Intégrateurs du Programme Économique Régional représentent un ensemble précis, complet et cohérent visant à favoriser la sortie des pays de la Communauté du peloton des pays pauvres et progresser vers l’émergence. Il se décline en quatre (4) axes et treize (13) projets.
