Yaoundé - 08 May 2021 -

Cameroon: Banana exports dropped by 22.11% YoY in Apr 2021 (ASSOBACAM’s data)

Banana producers operating in Cameroon exported 13,186 tons of the fruit in April 2021, according to the Banana Association of Cameroon (Assobacam)....

Thursday 6 May 2021Energy

Tradex seeks a partner for the supply of 56,000 gas cylinders

The state-owned oil operator Tradex recently issued an international call for tenders for the supply, within five months, of 56,000 12.5 kg gas...
Thursday 6 May 2021Energy

Cameroon to install solar plants of 30MW energy generation capacity in the Northern regions this year

Cameroon and electric utility ENEO are currently fine-tuning a project to install mobile and modular emergency solar power plants. This was revealed, on...
Thursday 6 May 2021Economy

Consumer price index rose by 0.2% in Douala, in March 2021, the INS reports

In March 2021, in Douala, the consumer price index (CPI) rose by 0.2%, according to the National Institute of Statistics (INS). The figure is slightly...
Thursday 6 May 2021Economy

CICAM: Board of directors bans ecru imports to facilitate the development of the local cotton production

During a board meeting in January 2021, the directors of Cotonnière Industrielle du Cameroun (CICAM) forbade the importation of ecru (unprinted fabrics)...
Thursday 6 May 2021Energy

Cameroon presents its 2020-2030 electricity development strategy to Korean investors

On May 5, 2021, the 10th edition of the Cameroon-South Korea Economic and Energy Forum was held in Yaoundé. According to Jongham Kim, South Korea’s...
Thursday 6 May 2021Economy

Donations, cancelations, and deferment: China is taking measures to lighten the burden of its debt on Cameroon but…

On May 4, 2021, the Minister of Economy, Planning, and Regional Development (MINEPAT) Alamine Ousmane Mey and Wang Yingwu, the Chinese Ambassador to...
Wednesday 5 May 2021Public management

Cameroon has been paying about XAF11 bln demurrage charges for hydrocarbons imports yearly (Veronique Moampéa Mbio)

Before the commissioning of the Port of Douala’s oil terminal, Cameroon used to pay an average of XAF11 billion demurrage fees on vessels carrying...
Wednesday 5 May 2021Economy

3-year Youth plan: Applicants were more interested in agribusiness, livestock production, and digital economy in Q1-2020, the national observatory reports

The National Youth Observatory in charge of the Three-year "Special-Youth" Plan recently published data on the sectors that attracted applicants...
Wednesday 5 May 2021Finance

Cameroon: Eurobond REPCAM 9.5% 19 Nov 2025 still attractive for international investors

Cameroon’s Eurobond REPCAM 9.5% 19 Nov 2025 listed on Euronext Dublin is still sparking the interest of investors targeting the international securities...
Wednesday 5 May 2021Economy

Port of Douala: The new oil terminal helps reduce operating times by 12 hours, Véronique Moampéa Mbio claims

On April 28, 2021, the Port of Douala-Bonabéri officially commissioned its oil terminal. According to Véronique Moampéa Mbio, director-general of Cameroon...
5923-HIMA-PUB13-Meet Inn Eng Banner Resized 1000 x 90 px V2
Wednesday 5 May 2021Economy

BICEC claims XAF1.8 bln commitment for over 4,000 farmers within 5 years, in the framework of the agriculture development project PIDMA

Banque Internationale du Cameroun pour l'épargne et le crédit (BICEC) recently published a note detailing its financial commitments in the framework of...
Wednesday 5 May 2021Energy

China Gezhouba Group commissioned to build the 600MW Chollet hydroelectric dam

Chinese construction and engineering company China Gezhouba Group has been commissioned to carry out the studies, construction of the 600MW Chollet...
Tuesday 4 May 2021Public management

ENEO to install 30 transformers in Dschang to reduce power outages in the region

In its 2021 investment plan, electric utility ENEO informs that it will install 30 30-Kv transformers in Dshang, Western Cameroon. According to...
Tuesday 4 May 2021Economy

Cameroon sees 3.6% improvement in its 2020 GDP following rebasing operation

Recently, Cameroon posted a positive GDP for 2020, much to everyone’s surprise. Indeed, instead of the 0.8% growth the country posted, everyone was...
Tuesday 4 May 2021Public management

Cameroon to finalize its National Civil Aviation Security Program by end-2021

On April 30, 2021, in Yaoundé, Cameroon’s National Security Committee (NSC) held its first meeting for the 2021 financial year. During the meeting chaired...
Tuesday 4 May 2021Economy

Shelter Afrique to host its 40th annual general meeting in Cameroon next June 20-26

From June 20 to 26, 2021, the pan-African housing development bank Shelter Afrique will hold its 40th annual general meeting (AGM) in Yaoundé. During the...
Tuesday 4 May 2021Economy

Digital inclusion: Cameroon moves to boost the multipurpose community telecenters program

On April 29, 2021, in Yaoundé, Minister of Posts and Telecommunications (Minpostel), Minette Libom Li Likeng signed a partnership agreement with the...
Tuesday 4 May 2021Mining

Mbalam-Nabeba iron ore project: Sundance Ressources sends a strong signal to Cameroon by claiming over XAF4,700 bln damages from Congo

Australian mining company Sundance Ressources is claiming US$8.76 billion (over XAF4,700 billion at the current exchange rate) compensation in the case...
Tuesday 4 May 2021Finance

CEMAC: Commercial banks and their primary dealers own 93.7% of public securities

At the end of 2020, 93.7% (XAF3021.2 billion) of the public securities issued by CEMAC countries were owned by commercial banks operating in that...
Tuesday 4 May 2021Energy

ALUCAM still owes close to XAF20 billion to ENEO despite the government’s assumption of a previous XAF34 bln debt

While ALUCAM’s overall debt to ENEO is currently over XAF50 billion, the April 16, 2021, agreement consecrating the government of Cameroon’s assumption of...
Monday 3 May 2021Economy

Cameroonian customs seize 800 cellphones and accessories smuggled from Nigeria

Agent of the Bonabéri mobile customs brigade recently seized 800 cell phones and batteries smuggled from Nigeria, we learn. The seized goods were hidden...
Monday 3 May 2021Public management

Orange Cameroon to deploy 122 networking sites to boost service quality in rural zones

On April 29, 2021, wireless solutions provider NuRAN Wireless Inc announced that by December 2021, it will deliver 122 networking sites to Orange...
Monday 3 May 2021Public management

Thanks to new IT platform CAMCIS, Cameroon exceeded 2020 customs revenues target by XAF100 bln (Yaouba Aboulaye)

Thanks to the new customs platform CAMCIS, which Cameroon started using in April 2020, the country is improving its customs earnings. Indeed, according to...
Friday 30 April 2021Finance

Despite a net profit down 15.6% YoY, SAFACAM will distribute over XAF1 bln dividend for 2020 operations

For the financial year ending December 31, 2020, the African Agricultural Forestry Company of Cameroon (SAFACAM) will distribute a little over 1...
Friday 30 April 2021Agriculture

SOCAPALM to distribute XAF11.5 bln dividend for 2020 operations

BVMAC-listed Société camerounaise de palmeraies (SOCAPALM) ended the 2020 financial year with an XAF11.5 billion net profit. This profit is down by over...
Friday 30 April 2021Public management

Cameroon: The new economic and financial program will be submitted for IMF Executive Board’s approval in June 2021, sinking fund CAA says

The new economic and financial program being negotiated by Cameroon and the IMF could be submitted for the IMF Executive Board's approval in June 2021....
Friday 30 April 2021Public management

UBA Cameroon: Board of Directors elects Cameroonian banker Ebenezer Ngea Essoka as the new Chairman

On April 29, 2021, the Board of Directors of UBA Cameroon announced the election of Ebenezer Ngea Essoka (photo, right) as the new chairman. He is...
Friday 30 April 2021Economy

Cameroon: Minister of Transport takes part in the test drive of the Yaoundé-Douala trains that will soon be relaunched

On April 29, 2021, Minister of Transport Jean Ernest Ngallé Bibéhé Massena, was at CAMRAIL’s headquarters in Douala. This visit aimed to check the eleven...
Friday 30 April 2021Economy

Agribusiness group SAFACAM posts XAF679.5 mln net profit for 2020, down 15.6% YoY

The African Agricultural Forestry Company of Cameroon (SAFACAM), recently posted a XAF679.54 million net profit for the 2020 financial year. Compared...
Thursday 29 April 2021Economy

Exports: Cameroon’s performance is constant but still lags in the CEMAC region

Despite its increasingly diversified economy, Cameroon will be the country to contribute the lowest export revenues in the CEMAC region this year. This is...
Thursday 29 April 2021Public management

Cameroon: Public corporations’ non-guaranteed external debt rose by 1% QoQ because of exchange rate fluctuations (sinking fund CAA)

As of March 31, 2021, the non-guaranteed debt of Cameroon’s public corporations was XAF932 billion. According to the Autonomous Sinking Fund (CAA) that...
Thursday 29 April 2021Economy

ECF arrangement: World Bank approves XAF54.3 bln support for Cameroon

The World Bank announces that on April 19, 2021, it approved the release of $100 million (XAF54.3 billion) assistance for Cameroon. According to the...
Thursday 29 April 2021Public management

The Port of Douala to gain XAF34.7 billion within 30 years from the sales of dredged sediments

On April 28, 2021, in Douala, the Port Authority of Douala (PAD) and the Cameroonian subsidiary of Swiss group Pukaly International SA signed a...
Thursday 29 April 2021Economy

Only Six out of the Thirty-five public corporations provided new debt data, sinking fund CAA informs

At end-March 2021, public corporations’ non-guaranteed debt was XAF932 billion (representing 3.9% of GDP), according to a note on the economic situation...
Thursday 29 April 2021Finance

CEMAC: Central bank BEAC injected a record XAF1,213 bln liquidity into the banking circuit in March 2021

In March 2021, the Bank of Central African States (BEAC) injected a record XAF1,213 billion into the CEMAC banking circuit through its weekly liquidity...
Wednesday 28 April 2021Energy

Electric utility Eneo creates a subsidiary dedicated to electricity generation

Electric utility Eneo announces that it recently initiated procedures for the creation of a subsidiary dedicated to energy production in Cameroon....
Wednesday 28 April 2021Economy

CICAM once again about to shut down operations in Garoua due to suspension of cotton supplies

By May 10, 2021, Cotonnière Industrielle du Cameroun (Cicam)’s factory, based in Garoua, will no longer have the cotton necessary to produce ecru...
Wednesday 28 April 2021Agriculture

Cameroon inaugurates a new coffee processing unit in the Northwest

 On April 25, 2021, the Minister of Agriculture Gabriel Mbairobe inaugurated a new coffee processing unit in the Bamenda III district. This plant,...
Wednesday 28 April 2021Finance

Capital increase reforms and transparency: The main challenges awaiting Blaise Ezo’o Engolo, the new CIMA’s SG

Elected on December 4, 2020, as Secretary-General of the Inter-African Conference of Insurance Markets (CIMA), Cameroonian Blaise Abel Ezo'o Engolo...
Wednesday 28 April 2021Public management

Cameroon opens Q2-2021 with a XAF30 bln fundraising operation on the BEAC’s public securities market

Today April 28, Cameroon is issuing new 5-year bonds to raise XAF20 to 30 billion, according to a release from the Ministry of Finance. The bonds, issued...

  1. Most read 7 days
  2. shared 1 month
  3. read 1 month

Subscription to our newsletter

Every week the economy and investment news from Cameroon

Business in Cameroon n99: April 2021

Outages ENEO’s director-general explains the situation

Cocoa: Time to boost processing

Investir au Cameroun n109: Avril 2021

Délestages Le DG d’Eneo s’explique

Cacao : cap sur la transformation

Subscription to our newsletter

Every week the economy and investment news from Cameroon