BEAC adds coins in circulation
The Bank of Central African States (BEAC) Limbe Branch has launched a temporary initiative to combat the escalating coin shortage impacting businesses and consumers in Limbe and surrounding areas. Starting October 2024, the bank will open its doors every Wednesday and Thursday to distribute coins to those in need.
This initiative aims to alleviate the difficulties faced by pharmacies, supermarkets, stores, bakeries, and other enterprises struggling to secure sufficient coins for transactions. The ongoing shortage has frustrated both customers and businesses, prompting some to round prices or offer goods in lieu of change.
According to the communiqué, the coin exchange will be available from 9:00 AM to 12:00 PM, with the BEAC Limbe branch providing coins in exchange for banknotes. This effort is intended to address the persistent shortage of small denominations that has plagued the city for months.
Mr. Wilfred Mbongo, BEAC’s Secretary of Operations, signed the public notice, highlighting the significance of this measure in ensuring smooth business operations and preventing further disruptions caused by the scarcity of coins.
Economic operators are encouraged to take advantage of this weekly exchange opportunity, enabling them to maintain proper transactions and provide quality customer service.
The BEAC initiative is viewed as a vital step toward easing the financial strain on Limbe’s local economy, which has been under increased pressure due to the shortage. With the bank’s intervention, businesses are optimistic that this move will help restore normalcy and stimulate consumer spending in the region.
By Njong Shey Some trade unions in Fako Division, South West Region, are urging for…
By Tata Mbunwe The designation of journalist Albert Njie Mbonde as Chief of Bokwaongo village…
Youths in Menka, a village in the Pinyin area of Cameroon’s North West Region, have…
The 139th edition of International Labour Day is being marked in Limbe with an official…
A 10-month-old baby girl, Bih Irene, has been reported missing following a violent assault on…
Un communiqué publié cette semaine a annoncé la création de CSTAR, une société de projet…