CEMAC

The Economic and Monetary Community of Central Africa, generally referred to by its French acronym CEMAC (for Communauté économique et monétaire de l'Afrique centrale; Spanish: Comunidad Económica y Monetaria de África Central), is an organization of states of Central Africa established by Cameroon, Central African Republic, Chad, the Republic of the Congo, Equatorial Guinea and Gabon to promote economic integration among countries that share a common currency, the Central African CFA franc. There is a strong overlap between CEMAC and Economic Community of Central African States (ECMAS) in the areas of membership and mandates. CEMAC's common institutions include its Council of Heads of State (French: Conférence des chefs d'État) and Council of Ministers; a Commission in Bangui, Court of Justice in N'Djamena, and Parliament in Malabo; the Bank of Central African States (BEAC) in Yaoundé; the Central African Banking Commission (COBAC) and Central African Financial Market Supervisory Commission (COSUMAF), both in Libreville; and the Development Bank of the Central African States (BDEAC) in Brazzaville. CEMAC countries also share the Regional Insurance Control Commission (CRCA, in Libreville) with other African countries of the Franc Zone.