BEAC to withdraw old CFA coins by October 2027
By the AFREEQUE newsroom, based on Seneweb
The BEAC is gradually withdrawing 1, 5, 10, 25, 50, 100 and 500 CFA franc coins from older series in the six CEMAC countries. They can be exchanged free of charge at banks, microfinance institutions and the central bank until 31 October 2027, according to the BEAC.
The Bank of Central African States (BEAC) is to withdraw old 1, 5, 10, 25, 50, 100 and 500 CFA franc coins from circulation in the six CEMAC countries from 2 November 2026, Seneweb reports. The coins concerned are from older issues used in Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.
A transition period will run until 31 October 2027. Until 31 July 2027, the coins can be exchanged free of charge for coins from newer series at commercial banks, microfinance institutions and BEAC branches. During the final three months, only the central bank will be able to exchange them. After 31 October 2027, the old coins will no longer be legal tender and cannot be exchanged.
The BEAC aims to concentrate circulation on the series produced in 2006 and 2024, while combating the melting down and resale of old coins on the black market. It plans to inject 500 million new coins a year to increase the stock in circulation to three billion units by 2030 and ease shortages of small change.
The deadline follows the publication on 30 October of a BEAC denial that the coins would be withdrawn from 1 November. The central bank had previously announced the withdrawal of five series of CFA coins in CEMAC on 13 October.
