CEMAC Risks Losing Big from Forced Repatriation of Foreign Oil Companies Investment

CEMAC Risks Losing Big from Forced Repatriation of Foreign Oil Companies Investment

Introduction The Central African Economic and Monetary Community (CEMAC) announced that, as of April 30th, it would require foreign oil and gas companies to repatriate their environmental reclamation funds, enabling the Bank of Central African States (BEAC) to bolster CEMAC’s foreign currency (FX) reserves. By doing so, CEMAC, which includes the six African nations of the Republic of Congo, Cameroon, Central African Republic (CAR), Gabon, Chad, …