ENIGMA OF SUB-REGIONAL INTEGRATION IN AFRICA: THE CASE OF THE ECONOMIC AND MONETARY COMMUNITY OF CENTRAL AFRICA (CEMAC), 1994-2020
DOI:
https://doi.org/10.24193/subbeuropaea.2024.1.07Keywords:
Enigma, Economic integration, CEMAC, Sub-regionalism, AfricaAbstract
This chapter examines the enigma of Sub-regional economic integration in the Communauté Economique et Monétaire de l’Afrique Central (CEMAC) zone. The sub-regional integration idea was born out of the need for a united Africa during the immediate independence period, to be achieved through a gradual, but steady process. Although instituted in 1994, CEMAC was a re-make of the Economic and Customs Union of Central Africa (UDEAC) created in 1964. CEMAC was established, to promote sub-regional integration among central African states that shared a common legal tender, the CFA franc, through the promotion of trade, a genuine common market and greater solidarity. Albeit recording some inroads, CEMAC lagged behind its objectives, due to tardiness and overall poor implementation of policies, limited technical capacity, divergent attitudes of member states towards integration and absence of sanctions against states that disrespect community norms. The chapter sustains that such diverse political, economic, and socio-cultural impediments could only be halted through a joint approach, for remedial renewal by all stakeholders for a truly integrated economic CEMAC sub-region. This investigation shall be based on secondary and primary data, interpreted qualitatively and presented thematically.References
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