Yaoundé - 13 August 2020 -

National Bank of Equatorial Guinea obtains business license for its subsidiary in Cameroon

Bange Bank Cameroon SA, a subsidiary being set up by the National Bank of Equatorial Guinea (Bange) in Cameroon, was issued a business license by the...

Tuesday 11 August 2020Finance

Moody’s confirms Cameroon’s “stable” issuer rating

On August 7, 2020, Moody’s published a release confirming the stable outlook of Cameroon’s issuer rating.  "The stable outlook reflects Moody's view...
Tuesday 11 August 2020Public management

Cameroon and Gabon to source XAF42 bln on the BEAC money market on Aug12, 2020

On August 12, 2020, the Cameronian public treasury will issue new fungible Treasury bills (T-bills) on the securities market of the Bank of Central...
Monday 10 August 2020Agriculture

Cameroon: NGOs’ massive cereal purchases inflate prices in the Far-north

In the last few days, it has become hard for residents in the Far North region of Cameroon to purchase maize, sorghum, or millet since the prices of these...
Monday 10 August 2020Companies

Dangote Cameroon sold 687k tons of cement in H1-2020, up 15% YoY (Dangote Cement)

Nigerian cement giant Dangote informs that in H1-2020, the Douala-based clinker grinding plant (whose yearly capacity is 1.5 million tons) of its...
Friday 7 August 2020Finance

Chanas Assurance S.A. posts XAF683.4 mln net profit for 2019, up by 16.2% YoY

Cameroonian insurance company Chanas Assurances, majority-owned by National Hydrocaborns company SNH, informs that it recorded XAF683.4 million of net...
Thursday 6 August 2020Economy

Africa Food Manufacture to invest XAF13 bln in the construction of Cameroon’s first durum flour mill

On July 30, 2020, Africa Food Manufacture (AFM), which produces Broli-branded pasta, signed an investment agreement with Cameroon’s investment promotion...
Thursday 6 August 2020Mining

SNH estimates its stored oil data at over XAF10,000 billion

The Cameroonian National Hydrocarbon Company (SNH) estimates the value of oil data currently stored in its Mbanga-Bakoko (Douala) based Petroleum...
Wednesday 5 August 2020Economy

Cameroon saves close to XAF11 mln monthly after adjusting the salary of 4,490 health personnel

Some days ago, when they received their July 2020 salary, some physicians and health personnel operating for Cameroon noticed that their usual salaries...
Wednesday 5 August 2020Transport

Nigerian “Ibom Air” plans routes to the CEMAC region via Libreville and Douala

“Ibom Air currently deploys a fleet of five 90-seat Bombardier CRJ900 regional jets,” an article published on Forbes on August 4, informed. According to...
Wednesday 5 August 2020Economy

Union Bank of Cameroon’s board appoints Felix Landry Njoume as new MD

Subject to regulatory approval, Felix Landry Njoum is the new Managing Director of Union Bank of Cameroon (UBC) PLC. "Compliance and regulatory steps are...
5923-HIMA-PUB13-Meet Inn Eng Banner Resized 1000 x 90 px V2
Tuesday 4 August 2020Economy

Cameroon launches the 3rd phase of its economic partnership agreement with the EU

Today August 4, 2020, the third phase of the economic partnership agreement between Cameroon and the European Union commenced. In this framework, the...
Tuesday 4 August 2020Agriculture

Etienne Valère Olougou plans to invest XAF9 bln in the production of dairy products and biogas in Adamaoua

Cameroonian Etienne Valère Olougou plans to invest XAF9 billion in the construction of a dairy porducts (milk, yoghurt and cheese) and biogas production...
Tuesday 4 August 2020Economy

100 people who make the Cameroonian economy

To celebrate the 100th issue of the french edition of the Business in Cameroon magazine, our staff decided to compile and publish a list of 100...
Monday 3 August 2020Agriculture

Cameroon: Cocoa prices drop below XAF1,000 for the first time since Q1-2019

Since late July 2020, the average coca prices per kilogram in production areas in Cameroon has dropped below XAF1,000. According to système d’information...
Monday 3 August 2020Economy

Cameroon exported about 158,000 tons of LNG in Jan-May 2020, the SNH informs

From January 1 to May 31, 2020, Cameroon shipped seven loads of liquefied natural gas, according to the National Hydrocarbons Corporation (SNH)....
Friday 31 July 2020Business in Cameroon

Coleps: 2nd phase delayed by Covid-19 health crisis, not by a misunderstanding of internal procedures, Korean embassy reveals

On July 23, the Korean embassy in Cameroon reacted to the information provided by the Ministry of Economy, and relayed by Business in Cameroon on July 17,...
Thursday 30 July 2020Public management

Compulsory Taxpayer identification number: Cameroon extends deadline by an additional 4 months

The Minister of Finance has once again extended the deadline for individuals and companies to get a Taxpayer Identification Number (TIN). This deadline...
Wednesday 29 July 2020Finance

Cameroon: Customs revenues rose by XAF161.9 bln over 2015-2019

In the current edition of our monthly magazine, we mistakenly asserted that the departure, in October 2015, of  Minette Libom Li Likeng from the...
Wednesday 29 July 2020Economy

Port of Kribi: Filipino group ICTSI signs 25-year concession contract for the Multipurpose terminal

On July 27, 2020, Kribi Multipurpose Terminal (KMT), the local subsidiary of Filipino group Philippin International Container Terminal Services Inc....
Tuesday 28 July 2020Public management

Port of Douala: PAD extends RTC’s management contract by 3 years

On July 27, 2020, the Port Authority of Douala’s (PAD) supervisory board decided to reorganize and extend the delegated management contract binding...
Monday 27 July 2020Public management

Covid-19: Cameroon receives XAF57.7 bln loan from the AfDB to support affected households and firms

Minister of Economy Alamine Ousmane Mey signed, on July 20, an €88 million (about XAF57.7 billion) loan agreement with the African Development Bank...
Friday 24 July 2020Economy

Coronavirus: Gicam forecasts private companies’ 2020 turnover to drop by XAF3,139 bln

Between May and June 2020, the Inter-Patronal Grouping of Cameroon (GICAM) renewed its study carried out in April on the impacts of the coronavirus on the...
Friday 24 July 2020Economy

Cameroon: Bolloré Transport & Logistics lays off about 20% of staff for economic reasons

On July 21, 2020, Bolloré Transport & Logistics Cameroon laid off over 200 (more than 20%) of its staff. The staff concerned are from all segments of...
Friday 24 July 2020Public management

Cameroon forecasts 2021 oil revenues at XAF303.3 bln, up by 5.8% YoY

Cameroon forecasts its 2021 oil revenues at XAF303.3 billion, according to the budget orientation document being used to guide the elaboration of the 2021...
Thursday 23 July 2020Public management

Cameroon seeks investors for its high aquaculture potential areas

The Minister of Livestock Dr. Taïga recently issued a Request for Expression Of Interest (EOI) to prequalify national and foreign operators who want to...
Thursday 23 July 2020Finance

MTN Cameroon to soon offer mobile savings and loans services

MTN Cameroon is currently finalizing MoMoKash, its platform aimed at providing savings and microcredit services via mobile phones. This was confirmed by a...
Thursday 23 July 2020Finance

CEMAC: BEAC plans to buyback XAF600 bln of members’ debt

During its July 22 videoconference presided by Abbas Mahamat Tolli, the BEAC’s Monetary Policy Committee (MPC) authorized a punctual targeted bond buyback...
Thursday 23 July 2020Economy

In Q1-2020, Cameroon imported XAF190 bln worth of products it could produce locally (MINFI)

In Q1-2020, Cameroon spent XAF190.6 billion to import 1,089,801 tons of goods it could have produced locally, the Ministry of Finance informs. The...
Wednesday 22 July 2020Finance

Ecobank Cameroon seeks firm to elaborate its risk map

Ecobank recently launched a tender process to select a firm that will create the risk map of its operations per articles 87 and 88 of the rules laid out...
Wednesday 22 July 2020Agriculture

Cameroon authorizes the duty-free importation of 200,000 tons of rice to build up reserves

To build its rice reserve and cover the national demand for the rest of 2020, Cameroon has authorized the duty-free importation of 200,000 tons of rice,...
Wednesday 22 July 2020Telecom

Nexttel, Yup, Airtel Tchad, MTN Congo, others to soon join GimacPay

By September 2020, many mobile money operators will join GimacPay, the Interbank Electronic Banking Group of Central Africa’s platform that aggregates all...
Tuesday 21 July 2020Economy

Cameroon temporarily opens the sheet metal market to fill its deficit

Cameroon temporarily opened its sheet metal market to fill the deficit. This was revealed by Luc Mbarga Atangana, the Minister of Commerce (Mincommerce),...
Tuesday 21 July 2020Economy

The Port Authority of Kribi announces the resumption of its Asia-West Africa Services for August 8

The Port Authority of Kribi (PAK) announced it will resume its Asia-West Africa Services (ASAF) at the Kribi deep seaport on August 8, 2020, after being...
Monday 20 July 2020Public management

Cameroon: Tractafric Motors to open tire distribution and vehicle maintenance store next fall

Car dealer Tractafric Motors Cameroon currently plans to open, next fall, a Point S store, specializing in tire distribution and vehicle...
Monday 20 July 2020Mining

Eramet group expresses interest in nickel and cobalt exploration in Cameroon

French group Eramet, which recently began exploration works on the 2,500 sq. km rutile block in Akonolinga (in Cameroon’s Centre province) revealed on its...
Monday 20 July 2020Public management

Cameroon launches international call for tenders to import 465,000 tons of petroleum products

To enable the sustainable supply of petroleum products in Cameroon, the Minister of Water and Energy (Minee) Gaston Eloundou Essomba recently launched an...
Monday 20 July 2020Public management

Cameroon to increase tax-to-GDP ratio by 1.3% in 2021 to reach its 2023 target

Cameroon plans to increase its tax-to-GDP ratio by 1.3% during the 2021 fiscal year to be able to reach the 13.5% target set for the 2023 financial year....
Friday 17 July 2020Agriculture

Cameroon plans a revival plan for the tomato sector affected by border closure

Cameroon is currently elaborating on a revival plan for the tomato sector. This was revealed during the inter-ministerial meeting held via videoconference...
Friday 17 July 2020Agriculture

Cameroon: The EU provides CFAF10 bln to support transformation in cotton-producing areas

On July 16, in Yaoundé, the Minister of Economy Alamine Ousmane Mey and Hans-Peter Schadek, head of the European Union delegation in Cameroon, signed a...
Friday 17 July 2020Public management

Cameroon: DGT creates an online platform aggregating all payment methods, to facilitate the payment of tax and duties

The Directorate General of Taxation (DGT) informs that it has recently created a System for the Aggregation of payment methods accepted by the state...

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Business in Cameroon n90: June 2020

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Colonel Roger Kuitche: “Military strategy is an important tool that will beneft businesses and public administrations”

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