The Bank of Central African States (BEAC; Banque des États de l’Afrique Centrale) serves as the regulatory authority for the six-member states of the Economic and Monetary Community of Central Africa (CEMAC; Communauté Économique des États de l’Afrique Centrale): Cameroon, Chad, the Central African Republic (CAR), Equatorial Guinea, Gabon, and the Republic of Congo. The region collectively houses 54 banks, with financial systems varying significantly in sophistication. 

The central bank has made significant strides toward financial inclusion and digital transformation through its focus on modernizing payment systems and improving interoperability across the region. While BEAC has demonstrated an increasing interest in digital financial advancements and introduced initiatives to strengthen regional financial stability, it has not introduced a dedicated regulatory framework for open banking.  Instead, the focus has been on facilitating mobile money adoption and addressing foundational challenges such as financial access, trust, and infrastructure development.

The lack of an open banking framework presents an opportunity for CEMAC countries to leapfrog traditional banking challenges. By implementing structured data-sharing policies, BEAC could encourage collaboration among financial institutions, boost competition, and foster economic growth through inclusive financial services. Additionally, existing mobile money platforms could serve as a foundation for broader digital financial integration.

If open banking were to be adopted through a regulatory led approach, the BEAC is likely to play a significant role in regulating and standardizing its implementation across the six states, ensuring consistent application and facilitating cross-border financial activities.