Yaoundé - 30 September 2020 -

Cameroon plans to raise XAF180 bln on the money market in Q4-2020

After a slight break following its series of bonds issuance thanks to which it raised XAF219.4 billion (between April and June 2020), Cameroon is...

Wednesday 30 September 2020Companies

SCI-Lafleur to open a giant hippodrome in Douala

Douala-based company Société commerciale immobilière-La fleur (SCI) informs that it is currently preparing to open the giant hippodrome ever built in the...
Wednesday 30 September 2020Finance

CEMAC: Central Bank BEAC sets commissions to be collected on outgoing wire transfers in 2021

On September 22, Abbas Mahamat Tolli (photo), governor of the Bank of Central African States (BEAC), signed a decision allowing the BEAC (central bank of...
Wednesday 30 September 2020Infrastructures

Kribi-Grand Zambi road to be delivered in March 2021 (MINTP)

The Cameroonian Ministry of Public Works (MINTP) announces that the Kribi-Grand Zambi (53 km) road in Southern Cameroon will be delivered in March...
Wednesday 30 September 2020Tourism

Yaoundé city hall creates tourist information office to promote tourist sites and local specificities

Yaoundé city hall, in collaboration with the association of Cameroonian tourist guides, recently created the first-ever tourist information office by a...
Tuesday 29 September 2020Agriculture

Cameroon plans to raise onion production to 200k tons this year through IFAD-funded program PADFA

Cameroon is planning to boost onion production. This was revealed during the signature, on September 25, 2020, of a credit agreement between the...
Tuesday 29 September 2020Cooperation

Cameroon: Belgian bank Belfius funded Camwater’s investment program with XAF36.6 bln in 2009-2014

Belgian bank Belfius provided Cameroon with XAF36.6 billion (€55.8 million), between 2009 and 2014. This was revealed during the audience granted to the...
Tuesday 29 September 2020Finance

CEMAC: Cameroon to end Q3-2020 fundraising operations by raising XAF20 billion on the public securities market

Cameroon will, on September 30, 2020, close its fundraising operations on the BEAC public securities market for Q3-2020, by issuing 26-week treasury...
Tuesday 29 September 2020Economy

Cameroon: Government plans to develop birding tourism to boost the tourism sector after Covid-19

The Cameroonian Ministry of Tourism, in collaboration with international experts, is currently working to develop niche tourism in the country. This was...
Tuesday 29 September 2020Agriculture

Commodity Value Chain Support Project PADFA plans to increase yearly milled rice production by 80k tons by 2023

On September 25, in Yaoundé, Cameroon and the International Fund for Agricultural Development signed a XAF28.5 billion ($47 million) credit agreement for...
Monday 28 September 2020Economy

Éric Jacquemin: “I will continue to support Belgian companies’ investments in Cameroon”

Some days ago, the new Belgian ambassador to Cameroon Éric Jacquemin was granted an audience by the Cameroonian Minister of Finance Louis Paul Motazé in...
5923-HIMA-PUB13-Meet Inn Eng Banner Resized 1000 x 90 px V2
Monday 28 September 2020Economy

German firms Ossberger and Stragbag AG plan to set up operations in Cameroon

Hydropower manufacturer Ossberger and construction company Stragbag are currently negotiating with Cameroonian ministries to set up operations in the...
Monday 28 September 2020Microfinance

Cameroonian firm Express Union is the 4th most important microfinance institution in Gabon

Cameroonian firm Express Union is one of the four most important microfinance institutions in Gabon, the country’s General Directorate of Economy and Tax...
Friday 25 September 2020Energy

Cameroon: Andritz Hydro offers to supply equipment for Nachtigal and Lom Pangar projects

The German company Andritz Hydro is offering to supply equipment for the Nachtigal (420 MW) and Lom Pangar projects, Cameroon’s Ministry of Economy...
Friday 25 September 2020Wood

Cameroon exported 728.8 mln m3 of raw timber in 2019

Cameroon exported 728.8 million m3 of raw timber in 2019, according to data compiled at the ports of Douala and Kribi. These exports were realized despite...
Friday 25 September 2020Finance

Cameroon: UBA Cameroon served as an intermediary bank for 52.9% of cocoa sold in 2019-2020 (ONCC)

Eleven (11) commercial banks operating in Cameroon served as intermediaries between cocoa exporters in Cameroon and their foreign buyers during the...
Friday 25 September 2020Economy

Cameroon: Customs seizes 145 boxes of wine and whisky in the Southern region

Cameroonian customs stationed in the Southern region seized 145 boxes of contraband wine and whisky. Indeed, on the night of September 21 to 22, 2020,...
Thursday 24 September 2020Economy

Cameroon: Coronavirus forces oilseed refiners to reduce operation by 50%

The Association of Oilseed Refiners of Cameroon (Asroc) indicates that because of the coronavirus pandemic, none of its members are functioning above 50%...
Thursday 24 September 2020Finance

Cameroon: UBA Cameroon partners with local cryptocurrency leader Global Investment Trading

UBA Cameroon informs that it recently entered into a partnership with the Cameroonian leader of the cryptocurrency market Global Investment Trading...
Thursday 24 September 2020Wood

Cameroon is the 2nd most active country on the Open Timber Portal

Cameroon is the 2nd most active country on the “Open Timber Portal ” (OTP) which promotes transparency in forestry activities worldwide. With over 600...
Thursday 24 September 2020Agriculture

Cameroon: Adamaoua joins the rank of cocoa-producing regions (ONCC)

During the 2019-2020 cocoa season (which ended on July 15, 2020), a little over 82 tons of cocoa was sold in Adamaoua (one of the three northern regions...
Wednesday 23 September 2020Wood

Cemac: the prices of raw timber resisted the overall decreasing trend induced by the COVID-19 in Q2-2020

Between April and June 2020, CEMAC wood exports were affected by the coronavirus crisis raging the world. Indeed, according to the commodities price index...
Wednesday 23 September 2020Health

Cameroon: ENEO donates XAF175 mln of medical supplies to help fight COVID-19

On September 22, Eneo donated about XAF175 million of medical supplies to Cameroon, via the Minister of Public Health Malachie Manaouda. With that...
Wednesday 23 September 2020Finance

Cameroon: Ivorian Sylvain Kakou becomes IFC’s regional manager for Central Africa

Ivorian Sylvain Kakou (photo) is the International Financial Corporation’s (IFC) new regional manager for the Central African region. He replaces his...
Wednesday 23 September 2020Economy

Cameroon: 15 local companies granted the CEMAC preferential tariff regime

Fifteen (15) manufacturing and agribusiness companies operating in Cameroon have recently been granted the preferential tariff regime allowing them to...
Tuesday 22 September 2020Economy

CEMAC: Towards the creation of a mixed inter-state customs brigade

Cameroon's Directorate-General of Customs recently hosted a meeting aimed at ensuring the consistency of the draft regulation on the creation,...
Tuesday 22 September 2020Energy

Cameroon becomes one of Turkey’s four African gas suppliers

Thanks to Hilli Episeyo (the floating natural gas liquefaction plant commissioned off the coast of Kribi in 2018), Cameroon has become one of the four...
Tuesday 22 September 2020Finance

CEMAC: Cameroon, Gabon, and Congo’s public securities were the most sought after in Q2-2020 (BEAC)

In Q2-2020, the treasury bills issued by Cameroon, Gabon, and Congo (to a lesser extent) were the most sought after, according to the quarterly bulletin...
Tuesday 22 September 2020Agriculture

CEMAC: prices of agricultural export commodities dropped by 7.6% in Q2-2020 (BEAC)

In Q2-2020, the global prices of agricultural products exported by CEMAC countries dropped by 7.6%, according to the commodity price index recently...
Monday 21 September 2020Tourism

Cameroon plans to relaunch the travel & tourism industry weakened by the Covid-19 pandemic

On September 9, the secretary-general at the Cameroonian prime ministry sent a letter to the president of the association of tourism professionals APTAC....
Monday 21 September 2020Companies

Cameroon: Residents neighboring the rail network receive XAF450 mln of work contracts yearly, Camrail claims

Every year, Camrail grants XAF450 million of contracts to residents of the 163 villages that border its railway network in the framework of its corporate...
Monday 21 September 2020Wood

Congo basin countries to prohibit raw wood exports by Jan 1, 2022

On September 18, 2020, the Ministers of Forest, Industries, and Environment of the Central African region validated a decision prohibiting countries of...
Monday 21 September 2020Cooperation

Cameroon: Germany disburses XAF1.96 bln to boost decentralization and connectivity in rural communities

The German Embassy in Cameroon informs that the Federal Government of Germany has disbursed €3 million (XAF1.96 billion) to boost its commitment to...
Monday 21 September 2020Public management

CEMAC: Central bank BEAC seeks intruder alarm system suppliers for its Limbé and Pointe Noire branches

The Bank of Central African States (Beac) recently launched a regional selection to identify firms that will supply, install and configure (the services...
Monday 21 September 2020Economy

Cameroon imported XAF390 bln worth of perfumes, cosmetics, chemicals, and pharmaceuticals in 2019 (INS)

Cameroon imported XAF390.01 billion worth of perfumes, cosmetics, chemicals, and pharmaceuticals in 2019. According to the National Insititute for...
Friday 18 September 2020Finance

CEMAC: Boosted by the coronavirus pandemic, long-term securities made up 53.6% of overall issuance in Q2-2020

CEMAC countries raised XAF849.5 billion on the BEAC debt market in Q2-2020. This represents a 27.2% rise quarter-over-quarter. This is revealed in the...
Friday 18 September 2020Economy

Cameroon imported XAF101.7 bln of textile materials in 2019, up 6.4% YoY

In 2019, Cameroon spent XAF101.71 billion to import 121,935 tons of textile materials, up by 6.4% year-over-year.   In detail, silk (135 tons)...
Friday 18 September 2020Public management

Cameroon sets conditions for access to coronavirus recovery fund

On September 11, 2020, Achille Bassilekin III (photo), the Minister of SMEs, signed a decree setting the conditions under which SMEs, artisans, and...
Friday 18 September 2020Economy

Hydrocarbon Prices Stabilization Fund opens a single account to boost petroleum tax and equalization payments collection

Cameroon’s national Hydrocarbon Prices Stabilization Fund (HPSF) recently opened an account at CCA-Bank for the collection of various taxes and...
Friday 18 September 2020Economy

Cameroon imported XAF72 bln worth of alcoholic drinks in 2019, up 12% YoY (INS)

Cameroon imported 93.368 tons of alcoholic drinks in 2019, according to data from the National Institute for Statistics. The bill during the period was...
Thursday 17 September 2020Bank

Abakal Mahamat: “The actions of the Central Bank, coupled with the intervention of the State have been of crucial importance…”

Based on BGFI Cameroon’s experience, the bank’s managing director talks about the impact of the Coronavirus on the local financial sector and appreciates...

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