Business News of Friday, 4 November 2016Source: businessincameroon.comCommon bank card officially launched in CEMAC zoneFile photoThe Inter Bank Money Group of Central Africa (GIMAC - Groupement interbancaire monétique de l’Afrique centrale) proceeded on 21 October 2016 in Douala, the economic capital of Cameroon, with the official launch of the interbank GIMAC card. This official launch, we learn, intervenes well after the start of use of this card, which has been operational since the first quarter of 2015. According to the management of GIMAC, this communal bank card, actually used on the networks of 20 banks in the CEMAC zone, has already resulted in transactions of around FCfa 5 billion to date. This volume of transactions should increase tenfold with the official launch of the card. In fact, if it is involved in the financial integration of the countries of the CEMAC zone, the GIMAC card arrives in a market where Visa and Mastercard already reign supreme.
