Challenges to Effective Integration within the Central African Economic and Monetary Community

The current study research is based on a doctorate dissertation conducted by Augustine Nguh under the supervision of Professor Alain Ndedi, assisted by Januarius J. Asongu and Professor Rafael Bisaliev at the Saint Monica University. The Central African Economic and Monetary Community, CEMAC, is yet to fully implement functional and mutually beneficial economic policies to facilitate trade and economic cooperation and progressively advance towards a common market as envisaged since 1999. With a population of about 40 million, a common currency, constituted transnational institutions, the CEMAC has intriguingly continued to lag behind its objectives. The question herein is therefore what the challenges are, and if they can be identified and categorized for solutions and recommendations to be formulated for the way forward. The method employed being essentially qualitative, a scrutiny of documented policies, the collection of data from local and multinational businesses in the sub region, political and administrative authorities, and the practical observation of any stake dynamics that inhibit functional integration constituted the research process. The political rivalry, lack of economic data specifics, tardiness, and the overall poor policy implementation come into sight as core challenges. In sum, it emerges from the study that such diverse political, economic, and socio-cultural impediments would necessitate a multispectral approach to recommendations for remedial reconstruction by all stakeholders for a truly integrated CEMAC sub region