Yaoundé - 21 June 2021 -

Cameroon eyes local green gas production

On June 11, 2021, Minister of Economy Alamine Ousmane Mey and executives of the Australian firm Fortescue Future Industries Ltd signed a framework...

Friday 18 June 2021Economy

National Social Insurance Fund CNPS has XAF325 bln of cash, according to CEO Mekulu Mvondo

As of December 31, 2020, the National Social Insurance Fund CNPS had XAF325 billion of cash in its treasury. This was revealed by Alain Olivier Noël...
Friday 18 June 2021Energy

VOG raises over XAF4 bln for the development of the Matanda block

British oil firm Victoria Oil & Gas (VOG), the parent company of Gaz du Cameroun (GDC), announces that it recently raised $7.5 million...
Friday 18 June 2021Public management

Cameroon: The low number of new civil servants to be recruited this year is due to the socio-economic environment, MINFOPRA LE says

On June 11, 2021, Minister of Public Services (MINFOPRA) Joseph Lé (photo), signed 28 decisions launching the recruitment of new staff into the civil...
Friday 18 June 2021Public management

Cameroon: Telecom regulator ART announces new regulatory model to become highly efficient by 2025

In Cameroon, the Telecommunications Regulatory Board (ART) informs that it is currently elaborating a new regulatory model to become a robust, innovative,...
Friday 18 June 2021Finance

CEMAC: Panafrican group Africa Bright Securities becomes an official broker on the BVMAC

Officially, Panafrican group Africa Bright Securities, is, since June 15, 2021, a brokerage firm authorized to operate on the Central African Stock...
Thursday 17 June 2021Finance

Cameroon heads back to the BEAC debt market to raise XAF50 bln through issuance of 6-year bonds

On June 16, 2021, after a 1-month break, Cameroon headed back to the Bank of Central African States (BEAC)’s public securities market to issue new...
Thursday 17 June 2021Public management

Decentralization: FEICOM presents its services to regional councils

Since June 14, 2021, the General Manager of FEICOM (Special Council Support Fund for Mutual Assistance) has been holding working sessions with the...
Thursday 17 June 2021Finance

Ecobank partners with CAMPOST to bring banking services closer to the non-connected population

On June 14, 2021, Cameroon Postal Services (CAMPOST) and Ecobank Cameroon signed a partnership agreement allowing access to banking services for the whole...
Thursday 17 June 2021Public management

Tony Elumelu Foundation completes the training of thousands of young African entrepreneurs, including 5,864 Cameroonians

The Tony Elumelu Foundation (TEF) recently announced that it has successfully concluded the training of over 200,000 young entrepreneurs from the 54...
Thursday 17 June 2021Public management

French national of Cameroonian origin Jacques Djofack becomes Director of Financial Management for the AfDB

On June 15, 2021, the African Development Bank (AfDB) announced the appointment of Jacques Djofack, a French National of Cameroonian origin, as Director...
5923-HIMA-PUB13-Meet Inn Eng Banner Resized 1000 x 90 px V2
Wednesday 16 June 2021Public management

Cameroon: Customs officers seize 32.5 tons of sugar smuggled into the national territory as wheat flour

Last June 10, in Maga, customs agents seized 32.5 tons of sugar, which were being smuggled into the country, from Nigeria. Loaded in a lorry, the sugar...
Wednesday 16 June 2021Economy

Cameroon: HPSF posts XAF5.4 bln net profit for 2020, thrice higher than the 2019 performance

In 2020, the Hydrocarbon Prices Stabilization Fund (HPSF)’s net profit grew three-folds going from XAF5.4 billion in 2019 to 15.14 billion....
Wednesday 16 June 2021Public management

Cameroon launches an awareness campaign to promote the use of legal wood

Last June 14, in Yaoundé, the Cameroonian Ministry of Forest and Wildlife (MINFOF) and local NGO Center for International Forestry Research/World...
Wednesday 16 June 2021Economy

Customer relationship management firm Intelcia claims 1,200 direct jobs in Cameroon, 4-folds up within 5 years

In 2016, when it entered the Cameroonian market by merging with Clientos, a local customer relationship management firm, Intelcia Cameroon (the local...
Tuesday 15 June 2021Public management

CEMAC: The BDEAC claims XAF118 bln support to economic operators in 2020

Despite the coronavirus pandemic that caused a slowdown in economic activities in the world and the CEMAC region in 2020, the Development Bank of Central...
Tuesday 15 June 2021Finance

CEMAC: Cameroonian investors contribute XAF54.5 bln (28.9%) to Gabon’s new 2021-2016 bond issue

At the end of its 2021-2026 bond issue operation (the sixth in the history of the country’s public finance), Gabon raised XAF188.8 billion against a...
Tuesday 15 June 2021Economy

A new batch of 55 young Cameroonians enters CAMRAIL’s training-recruitment program

On June 7, 2021, CAMRAIL officially welcomed a new batch of 55 young Cameroonians to whom it will offer training for railway occupations, a company...
Tuesday 15 June 2021Public management

Staff dismissal at SOSUCAM: Minister Grégoire Owona suggests negotiated departures

On June 11, 2021, Minister of Labour Grégoire Owona (photo) sent two letters to Alexandre Vilgrain, CEO of SOSUCAM, stating his recommendations for the...
Tuesday 15 June 2021Economy

Cameroon gives owners of uncleared cars up to Dec 31, 2021, to regularize their situation without paying fines

Finance Minister (MINFI) Louis Paul Motaze recently signed a release granting owners of uncleared cars a grace period to avoid fines, by regularizing...
Tuesday 15 June 2021Public management

Cameroon: SNH pays XAF10 bln dividend to the State for 2020 operations

For the 2020 operational year, SNH paid XAF10 billion of dividends, XAF8.44 billion of corporate tax, and XAF2.16 billion as miscellaneous taxes and...
Monday 14 June 2021Public management

Cameroon to sign a new XAF54.1 bln IDA loan agreement for “development policy support operations”

Paul Biya, President of the Republic of Cameroon, recently signed a decree authorizing the Minister of Economy Alamine Ousmane Mey to sign a XAF54.1...
Monday 14 June 2021Agriculture

Cameroonian farming startup ClinicAgro Sarl seeks funding to deploy 50 additional soil testing kits

ClinicAgro Sarl is currently seeking financing to develop its offers to farmers through the farming app already available on Playstore. According to...
Monday 14 June 2021Agriculture

Cameroon: Towards government's authorization for the importation of additional 20k tons of crude oil and by-products to bridge offer gap this year

The Cameroonian government is currently reviewing a request introduced by the Oilseed Industry Regulatory Commission for the authorization to import...
Monday 14 June 2021Economy

SNH to supply natural gas to Keda Cameroon Ceramics for its tile manufacturing project

National Hydrocarbons Corporation of Cameroon (SNH) recently issued a call for tenders to recruit a construction program manager for its pipeline project...
Monday 14 June 2021Telecom

Cameroon moves for the diagnostic assessment of state-owned operator CAMTEL

In Cameroon, the Technical Commission for the Rehabilitation of Public and Para-public Enterprises (CTR) is moving for the diagnostic study of state-owned...
Friday 11 June 2021Finance

BDEAC exceeded budgetary forecasts in 2020 with XAF9.8 bln net profit (Administrative Board)

Despite the coronavirus pandemic, the Development Bank of Central African States (BDEAC) recorded a XAF9.8 billion net profit in 2020. This was...
Friday 11 June 2021Mining

Cameroon suspends a mining license in the East after the May 30, 2021, deadly incident in Kambélé

On June 4, 2021, the Cameroonian Minister of Mines Gabriel Dodo Ndocké issued a decision suspending the artisanal mining permit issued for a site in...
Friday 11 June 2021Public management

Bertoua inflation reaches its highest in 10 years as prices surged 4.7% in Q1-2021

In Q1-2021, Bertoua is the Cameroonian city that recorded the highest inflation, the National Institute of Statistics (INS) reveals. “On the spatial...
Friday 11 June 2021Public management

Civil service: Banks and public officials meet to discuss the various problems facing the salary processing chain

In late May 2021, in Yaoundé, an awareness, discussion, and training workshop were organized to discuss the problems encountered concerning the processing...
Thursday 10 June 2021Public management

Cameroon Airports Company ADC announces XAF7 bln net loss for 2020, due to Covid-19

Cameroon Airports Company (ADC) recorded a XAF7 billion loss in 2020 because of the coronavirus pandemic that greatly affected air transport during the...
Thursday 10 June 2021Finance

Microfinance institution Vision Finances doubles its capital to XAF4 bln to fund development plans

In a recently published release, microfinance institution Vision Finances SA announced that it has successfully concluded an operation aimed at doubling...
Thursday 10 June 2021Public management

Cameroon: General price level rose by 2.3% YoY in Q1-2021 (INS)

In Q1-2021, the general price level rose 0.1% compared to Q4-2020, according to the national institute for statistics INS. On a year-to-year basis, this...
Thursday 10 June 2021Construction

CIMENCAM partners with three public institutions for the construction of 2,000 low-cost housings

Local cement company CIMEMCAM recently signed an agreement with the Cameroonian Ministry of Urban Development, Société immobilière du Cameroun (SIC), and...
Thursday 10 June 2021Energy

Cameroon generated XAF121.6 bln of oil revenues in Jan-Apr 2021 (BEAC)

Cameroon generated XAF121.68 billion of net profit from the sales of crude oil between January and April 2021, according to the national oil and gas...
Thursday 10 June 2021Mining

Almost all of Cameroon’s official diamond production is exported to The UAE and Belgium, BEAC data show

Pending the commissioning of its mines, Cameroon’s share in the world diamond market is still insignificant. Most of the country's productions (over 96%...
Thursday 10 June 2021Finance

Douala town hall gets closer to World Bank’s XAF43 bln funding with a XAF3.2 bln loan from UBA Cameroon

UBA Cameroon recently granted a XAF3.2 billion loan to the Douala town hall, credible sources reveal. According to the sources, thanks to that loan, the...
Wednesday 9 June 2021Finance

Cameroon: Insurers’ association ASAC plans to capitalize on mandatory insurances to boost sectoral turnover

In Cameroon, the new bureau of the insurers’ association ASAC intends to boost the turnover of this sector during its tenure. Indeed, in 2020, that...
Wednesday 9 June 2021Energy

Cameroon to pre-fund the electricity connection of 6,000 households in the east

The State of Cameroon will pre-fund the electricity connection of 6,000 households in the Eastern region, Minister of Water and Energy (MINEE) Eloundou...
Wednesday 9 June 2021Public management

Cameroon: 2021 State budget to rise by 11.22%, subject to parliament’s approval

On June 7, 2021, President Paul Biya signed an ordinance increasing the 2021 budget by XAF615.2 billion (11.22%).  “For the 2021 State...
Wednesday 9 June 2021Public management

SOSUCAM dismisses 250 permanent employees for “professional incompetence”

Effective June 8, 2021, close to a quarter of SOSUCAM’s permanent employees were dismissed for “professional incompetence.”  An internal source...

Subscription to our newsletter

Every week the economy and investment news from Cameroon

Business in Cameroon n100: May 2021

These Cameroonian startups raise billions

Agro-industry and land rights

Investir au Cameroun n110: Mai 2021

Ces start-ups camerounaises qui lèvent des milliards

Agro-industrie et droits fonciers

Subscription to our newsletter

Every week the economy and investment news from Cameroon