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.
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