The Bank of Central African States (BEAC) a published its latest report on payment services. The document states that money transfers from the diaspora to the Economic Community and Central African monetary system (CEMAC) are undergoing a profound change.

The BEAC Document mentions that nationals of the sub-region received 557.3 billion FCFA via Mobile Money in 2023. A record figure that confirms the rise in power of digital transfer as the main financial lever between the diaspora and their countries of origin.

The majority of transfers come from the mainland European. The CEMAC diaspora based in Europe sent 399 billion FCFA to the sub-region, including 388.4 billion FCFA from countries of the European Union.

Flows from the American continent reach 105.2 billion FCFA, while those in the African diaspora do not represent only about 60 billion FCFA. These numbers confirm the weight Europe and America preponderant in remittances, far ahead of intra-African transfers are still marginal.

Mobile dynamics Money in CEMAC is mainly based on Cameroon, a real driver of sector. The country concentrates 62.11% of Mobile Money accounts, 63.58% of transactions in volume and 76.57% of the total value of transactions carried out in the subregion