Bank of Central African States raises CEMAC foreign currency repatriation requirement for extractive companies to 50 percent in 2027 and 70 percent in 2028

The Bank of Central African States has adopted a new instruction that progressively increases the share of foreign currency export proceeds that extractive companies in the Central African Economic and Monetary Community must repatriate into the region. The rate, currently set at 35 percent for export revenues from hydrocarbons, mining and other extractive activities, will rise to 50 percent from 1 January 2027 and to 70 percent from 1 January 2028. The measure is intended to increase the contribution of export earnings to the Bank of Central African States' foreign exchange reserves while giving affected companies a predictable regulatory path. Amounts allocated to funds for rehabilitation of sites at the end of exploitation remain outside the scope of the repatriation obligation under the existing rules. The Bank of Central African States' national directors have been tasked with notifying extractive companies and credit institutions in their respective jurisdictions of the new instruction.