CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

Mortgage: a majority of borrowers (still) land rates below 1.5%

Despite a slight increase in mortgage rates in April, households are still benefiting from particularly favorable financing conditions in view of the data from the monthly study by the Crédit Logement / CSA observatory.

Even if they started to rise again ... they are still very attractive. Average mortgage rates rose slightly in April, a period also marked by a market collapse in the face of the coronavirus crisis. According to the monthly study by the Crédit Logement / CSA observatory, last month, the mortgage loan rates granted averaged 1.17%. A value slightly higher than the rate recorded for March - 1.15% -, but still close to the historic low reached last year. The remaining record to be beaten 1.12%, reached in November 2019.

Despite a slight increase in mortgage rates in April, households are still benefiting from particularly favorable financing conditions in view of the data from the monthly study by the Crédit Logement / CSA observatory.

"Instead of the rapid and brutal recovery that some have so often announced, the average rate has in fact only climbed 1 to 2 basis points each month since December 2019," said the observatory. Since December 2019, average rates have increased by 5 basis points on the old market with 1.19% in April 2020 and 6 basis points on the new market with 1.19% in April 2020 .

Borrowers still well off over 15, 20 and 25 years

In detail, the 15-year credit rates today average 0.96% and half of the households opting for this term still benefit from loans at a rate below 1%. Even the least affluent households, those belonging to the fourth quartile, and going into debt over 15 years obtain an average credit of 1.22%. Over 20 years, the most common duration, the general average is fixed at 1.13%. A quarter of these borrowers can boast of obtaining rates of less than 1%. More generally, almost all individuals who have taken out a loan over 20 years pay less than 1.5%.




Finally over 25 years, all loans granted are at a rate above 1%, the average being 1.38%. Half of the borrowers get a rate of less than 1.5%, however.