New coins timidly circulate, many still waiting
By Stephen Tadaha
The Bank of Central African States (BEAC) introduced a new series of coins dubbed “Type 2024” in the Economic and Monetary Community of Central Africa (CEMAC) region two weeks ago. However, many traders and business operators in Cameroon are yet to see or feel the impact of these new coins on their businesses. Coin scarcity remains a major problem, particularly in less urbanized areas.
While some traders in capital cities have started seeing the new coins, those in less urban areas are still waiting.
Sabin, a retailer at the Mbouda market in the West said, “I have heard of new coins being in circulation, but have never seen any. I only see them on Facebook and other social media handles. Since the announcement of new coins, nothing has changed in my business. Most customers with bank notes are rarely served because of lack of coins.”
On the other hand, Paul, a taxi driver, has seen the new 200 FCFA coin and believes it will change many coin issues.
“I have been impatiently waiting to see the new coins. But the only one I saw was the FCFA 200 coin, which, according to me, will change many coin issues.” He added that the “new FCFA coin, for example, will bring a new language to the daily life of Cameroonians, which may seem strange at first but will become normal over time. Meeting a customer who proposes FCFA 300 in FCFA 400 for a taxi drop will seem strange but normal.”
The new series, put in circulation on April 2, 2025, includes 9 denominations of stainless steel coins, notably:
- 1 FCFA
- 2 FCFA
- 5 FCFA
- 10 FCFA
- 25 FCFA
- 50 FCFA
- 100 FCFA
- 200 FCFA
- 500 FCFA
BEAC aims to introduce 3 billion FCFA worth of coins into the CEMAC zone over the next five years to boost economic activity and address issues of currency scarcity and counterfeiting, according to Yvon Sana Bangui, Director General of the BEAC.
It has been hard for some drivers and bikers to accept the FCFA 200 coins when passengers tell them that they have 200 and will pay FCFA 100 from it.
Videos shared on several social media platforms shows that not all drivers are aware that there have been changes.
