It is alarming and worth noting that the New CEMAC currency that went into circulation early last year, are now being rejected by some local traders in the community. The phenomenon has brought the attention of economist to write several articles about it.
Talking to one of the traders who owns a cosmetic store in one of the streets in Buea Town, he told ubstudents.com that the coins are too small size-wise and thus easily get missing with no trace. Secondly, the trader disclose the fact that some buyers refuse to collect the coins such as 2FRS, 5FRS and 10FRS saying those coins are too small in terms of their sizes. Comparing the previous coins to this one, he intern said they are much more preferable for circulation giving the advantage that the sizes are very much better and cannot easily get missing.
This reporter witnessed it for himself when he had 10 of 10FCFA coins and went to a cosmetic store to purchase an article which cost a 100FCFA and the seller refused saying “we nodi take dat kind moni”.  I wonder if the authorities concerned are aware of this practice by the traders.
The newly introduced 2FCFA that was aimed at curbing the practice of the Water/Electricity companies extorting money from their customers in the name of “ we don’t have change “, is still not in practice. In a chat with a client who was just from paying his bills at one of the above companies, she discloses that her total bill for the month was 1,196FCFA, she paid the sum of 1,500FCFA expecting a balance of 304FCFA, to her greatest surprise she was only given 300FCFA. It is due to the bitter nature at which she was complaining that attracted the crowd present. If such organizations don’t have such coins where are they suppose to be found??

Usman Mbella F.