The consolidated envelope of new financial facilities set up by commercial banks stood at 2,510.5 billion FCFA between January and March 2026, compared to 3,146.9 billion FCFA recorded during the same period of the previous year. The overall decline amounts to 636.4 billion FCFA in absolute value, reflecting increased caution among financial intermediaries and a slowdown in investment activity.

The deceleration phenomenon is mainly due to the behavior of productive structures, which traditionally absorb 81.15% of the mass of financing granted in the sub-region. The volume of commitments allocated to the corporate sector fell to 2,037.2 billion FCFA, recording a decline of 21.67% year-on-year. Sectoral analysis shows that large enterprises are primarily responsible for the decline, with an estimated decrease of 26.44% in their borrowing. The segment of large firms captured 1,471.3 billion FCFA of new resources, compared to 2,000.2 billion FCFA last year, resulting in a sharp reduction of 528.9 billion FCFA due to the postponement of certain industrial expansion programs.

The small and medium-sized enterprises (SMEs) compartment shows better resilience in the face of credit tightening, although the trend remains negative. Financing allocated to SMEs represented 22.54% of the global quarterly envelope, or a net amount of 565.9 billion FCFA. The outstanding balance of credits to medium-sized structures shows a moderate regression of 5.76% compared to the 600.4 billion FCFA recorded in the first quarter of 2025. The partial maintenance of flows to the local entrepreneurial fabric highlights the continued dependence of proximity operators on the banking channel to cover their working capital needs, in an environment marked by the increase in central bank interest rates.


Bernardo

Tags: economie cemac credits banques investissement pme finances taux directeurs banque centrale marche financier