Skip to content 
On 23 April 2026, the Governor of the Banque des États de l’Afrique Centrale (“BEAC”) signed Instruction n°001/GR/2026, setting a phased increase in the foreign exchange repatriation rate applicable to extractive companies resident in the CEMAC zone.
The current rate of 35% will rise to 50% on 1 January 2027, and to 70% on 1 January 2028.
Background
The obligation to repatriate export proceeds from extractive activities has been embedded in CEMAC foreign exchange law since Regulation n°02/18/CEMAC/UMAC/CM of 21 December 2018, with the specific framework for extractive companies established by Regulation n°01/CEMAC/UMAC/CM of 23 December 2021.
The 2021 Regulation delegated the determination of the applicable rate to BEAC instructions, leaving the threshold adjustable without requiring a full Council-level amendment. Instruction n°001/GR/2026 is the first exercise of that delegation to produce a material upward revision.
Scope of the obligation
The Instruction applies to all foreign currency generated by extractive activities (hydrocarbons and mining), including payments in kind.
Royalties, as well as Oil or Mineral profits entitlements received in kind, fall within the repatriation obligation on the same basis as cash proceeds.
This is a point of practical significance for operators whose production-sharing or concession arrangements with host states involve in-kind lifting.
One category is expressly excluded: amounts allocated to end-of-exploitation site rehabilitation funds remain outside the scope of the repatriation obligation and continue to be governed by their own dedicated regulatory framework.
The carve-out reflects the policy rationale that decommissioning provisions serve a distinct environmental and financial assurance function that should not be subordinated to balance-of-payments objectives.
The phased approach
The preamble to the Instruction identifies two concurrent objectives: strengthening the positive impact of export proceeds on BEAC foreign exchange reserves and preserving regulatory predictability for operators.
The two-step calendar, rather than an immediate increase to the terminal rate, is the instrument through which those objectives are balanced.
The Instruction was issued in implementation of Resolution n°03 of the Extraordinary Ministerial Committee of 19 December 2025, confirming that the rate revision had been agreed at the political level of the monetary union before being given technical effect by BEAC.
Further reading: CEMAC Extractive Sector: Evolving Obligations on Forex Repatriation & Site Restoration Funds.
Compliance considerations
BEAC National Directors in each member state are responsible for notifying both extractive companies and credit institutions within their territorial jurisdiction.
For operators, the relevant compliance questions include whether existing banking and treasury arrangements are configured to meet an increased repatriation rate, whether investment agreements or production-sharing contracts with member states contain stabilisation clauses that may interact with the new threshold, and whether in-kind lifting arrangements have been properly mapped against the repatriation obligation.
The January 2027 effective date of the first step is a few months away. Operators without a clear compliance and contractual review programme should be initiating that work now.
DISCLAIMER
This update is based on Instruction n°001/GR/2026 of the BEAC Governor dated 23 April 2026 and the accompanying BEAC press communiqué of the same date. It is intended for general informational purposes and does not constitute legal advice. Specific situations should be assessed in light of the applicable provisions and the particular facts involved.
