Yaoundé - 08 July 2020 -

Listed in a fraud case in DRC, Afriland group lodged a complaint against its accusers in Paris

On July 1, 2020, Afriland First Bank Democratic Congo (CD), one of the eleven subsidiaries of the banking group founded by Cameroonian billionaire Paul K....

Tuesday 7 July 2020Telecom

Cameroon: Telecom regulator ART recorded about CFAF56 bln of bad debts in 2019

The financial statements of Cameroon’s Telecommunications Regulatory Board (ART) reveal a deficit of CFAF 2.2 billion at the end of the financial year...
Tuesday 7 July 2020Public management

Cameroon plans to create 100,000 jobs over 5 years with the EII approaches

To combat unemployment, the Cameroonian government intends to create 100,000 jobs over the 2020-2025 period. To achieve this, the government plans to...
Tuesday 7 July 2020Public management

Cameroon reduced transit time from 40 to 5 days by digitizing foreign trade procedures

In Cameroon, transit time was reduced from 40 to 5 days by the end of Q1-2020 thanks to digitalization and telecommuting, according to the single window...
Tuesday 7 July 2020Energy

NHPC is getting ready for the construction of the final structures at the Nachtigal hydropower (420 MW) dam

Nachtigal Hydro-Power Company (NHPC), the company in charge of the implementation of the Nachtigal hydropower project (420 MW) located 65 km north-east of...
Tuesday 7 July 2020Public management

Cameroon: Tax population shot up by 20% between 2015 and 2019

Over the last five fiscal years (2015 to 2019), Cameroon's tax population has grown by more than 20%, from 89,741 to more than 121,566 taxpayers,...
Monday 6 July 2020Public management

Cameroon partners with Afrikpay to integrate 30,000 young people into digital jobs

In partnership with AfrikPay (Cameroon's third-largest Mobile Money operator), Mounouna Foutsou, the Minister in charge of Youth, has just launched the...
Monday 6 July 2020Agriculture

Cameroon will launch the development of 11,000 ha of hydro-agricultural and fish farming perimeter in the north this year

This year, Cameroon will start developing 11,000 hectares of hydro-agricultural and fish farming perimeter in the northern region of the country in the...
Monday 6 July 2020Economy

Cameroon plans national preference measures in the 2021 finance law to reduce imports

On July 2, Prime Minister Joseph Dion Ngute instructed Finance Minister Louis Paul Motaze to submit, within a fortnight, the budgetary guidelines that...
Monday 6 July 2020Companies

Cameroon: SABC’s loaded truck attacked in the Northwest

Société Anonyme des Brasseries du Cameroun (SABC) has recently been the victim of an attack by an armed group. The incident occurred in the town of Santa,...
Monday 6 July 2020Finance

Cameroon plans to raise CFAF110 bln on the BEAC market in Q3-2020

The Cameroonian Treasury recently published the provisional calendar of its public securities’ issuance on the Bank of Central African States (Beac)...
5923-HIMA-PUB13-Meet Inn Eng Banner Resized 1000 x 90 px V2
Monday 6 July 2020Public management

Cameroon plans to open some public companies’ capital to the private sector as of 2021

During a special cabinet meeting organized to examine the Budget and Economic Programming Document 2021-2023, Prime Minister Joseph Dion Ngute prescribed...
Friday 3 July 2020Companies

South African Stephen Blewett appointed the new CEO of MTN Cameroon

“I'm very excited to join the dynamic and focused MTN team in Cameroon! Thanks for the warm welcome and kind messages of support.” This is the message...
Friday 3 July 2020Finance

CBC plans to increase social capital to CFAF16.5 bln, after CFAF2.5 billion positive result in 2019

Commercial Bank-Cameroon (CBC) informs that it achieved a positive result of CFAF 2.5 billion as of December 31, 2019. This represents an increase of CFAF...
Friday 3 July 2020Energy

Energy: Minee announces works to boost the production of Memvé'élé hydroelectric power station (211 MW)

From July 4 to 6, 2020, the turbines at the Memvé'élé hydroelectric power station, which currently only delivers about 80 MW out of an installed capacity...
Friday 3 July 2020Finance

Afriland First Bank obtains financial market supervisor Cosumaf’s authorization for its brokerage firm “Afriland Bourse & Investment”

On July 2, Cameroonian bank Afriland First Bank informed that the Central African Financial Market Supervisory Commission (Cosumaf) approved its...
Friday 3 July 2020Finance

Afriland First Group listed in a fraud and corruption case in the DRC

Banking group Afriland First Group, created by Cameroonian billionaire Paul Kammogne Fokam (photo), is indexed in a corruption and fraud practice case...
Friday 3 July 2020Public management

Cameroon validates a territorial communities’ development program based on the Employment Intensive Investment approach

Cameroon recently validated an integrated national program aimed at developing decentralized territorial communities using the Employment Intensive...
Friday 3 July 2020Economy

Cameroon: The General Tax Directorate reminds taxpayers of the special mitigation provisions in the 2020 finance law

The General Tax Directorate (DGI), in a recent note, reminded Cameroonian taxpayers of a tax moderation procedure that will help them clear their tax...
Friday 3 July 2020Transport

Cameroon prepares to officially resume flights after keeping borders closed over the past three months

In Cameroon, the government is finalizing a protocol to manage international flights, as the country prepares to resume air transport. This was disclosed...
Friday 3 July 2020Economy

Chinese firm CWE given 60-day ultimatum to deliver Nkolessong-Nding road in Cameroon’s central region

Sixty days. That is how many days Cameroon’s minister of public works (Mintp), Emmanuel Nganou Djoumessi, gave the Chinese firm China International Water...
Thursday 2 July 2020Mining

Mbalam iron ore: Despite the June 30 flop, Sundance still hopes to finalize its agreement with AustSino

Today July 2, the Australian junior mining company announced that despite the failure to reach an agreement on June 30, it is continuing negotiations with...
Thursday 2 July 2020Finance

Douala Port authority realizes CFAF5.37 bln of net profits for FY2019, up 162.7% YoY

The Port Authority of Douala (PAD) informs that at the end of the financial year ending December 31, 2019, it realized a net profit of CFAF 5.37 billion,...
Wednesday 1 July 2020Public management

Cameroon: CSPH recorded CFAF7 bln drop in its net result between 2017 and 2019

The net income of Cameroon’s Hydrocarbons Prices Stabilization Fund (CSPH) dropped from CFA12.5 billion in 2017 to 5.4 billion in 2019. This represents a...
Wednesday 1 July 2020Infrastructures

Cameroon and Nigeria plan to build a trans-border bridge over the Cross river to boost trade

Cameroon and Nigeria recently issued a joint call for tenders to recruit an independent consultant to design a border bridge between Mfum (Nigerian side)...
Wednesday 1 July 2020Energy

The AfDB praises the impacts of the planned extension of the Kribi gas-fired power plant

In a note published on June 26, the African Development Bank (AfDB) praised the impacts of the planned extension of the Kribi gas-fired power plant (from...
Wednesday 1 July 2020Finance

CEMAC: Cameroonian banks captured 20% of liquidity injected by the BEAC in Feb 2020

In the framework of its liquidity-injection operations, the BEAC provided CFAF16.6 billion of liquidity to credit institutions operating in the community...
Wednesday 1 July 2020Finance

CEMAC: Member countries raised CFAF168 bln via issuance of T-bills, CFAF0 for T-bonds

In the recently published BEAC’s monthly statistics bulletin, the Bank of Central African States (Beac) informs that on the primary market of CEMAC's...
Wednesday 1 July 2020Public management

Cameroon: Coronavirus forces over CFAF500 mln reduction in the budget of local materials’ promotion agency Mipromalo

To cope with the budgetary constraints imposed by the coronavirus pandemic, which has already forced a reduction of more than CFAF 542 billion in the...
Tuesday 30 June 2020Energy

Cameroonian startup Ndoto Sarl develops a smart meter that helps reduce fraud

Douala-based startup Ndoto Sarl announces that it has just completed the development of a smart electricity meter, after 5 years of research. According to...
Tuesday 30 June 2020Economy

Covid-19: Cameroon’s international trade exchanges fell by 16% in H1-2020

Between January and June 2020, Cameroon's trade with the rest of the world fell by 16%. The information was revealed by the Minister of Trade, Luc...
Tuesday 30 June 2020Agriculture

Cameroon recorded 500,000 tons of maize deficit in 2019

Cameroon produced 2.3 million tons of maize, according to the information provided by the Minister of Agriculture and Rural Development (Minader) Gabriel...
Tuesday 30 June 2020Construction

Koutéré single checkpoint project: plans in motion for the resumption of construction works

The Central African Economic and Monetary Community (CEMAC) closed, on June 29, the call for expressions of international interest aimed at selecting a...
Tuesday 30 June 2020Finance

The CEMAC Commission suggests three new ways for financing, to mitigate low collection of community integration tax

Recently in Malabo, Equatorial Guinea, while reporting the state of its treasury, the CEMAC Commission (Cameroon, Central African Republic, Chad, Congo,...
Tuesday 30 June 2020Economy

Elimination of illicit tobacco trades: Local operators fear dirty tricks by multinationals

In Cameroon, the parliament recently beseeched the Head of State Paul Biya to ratify The Protocol to Eliminate Illicit Trade in Tobacco Products, which is...
Monday 29 June 2020Mining

Avima Iron Ore chooses Port of Kribi as its iron exports’ gateway

On June 8, Avima Iron Ore Limited, signed a Memorandum of Understanding with the Port Authority of Kribi (PAK), establishing a formal partnership for the...
Monday 29 June 2020Public management

Cameroon completes new CFAF 25 billion fundraising operation on the money market, with an average rate of 2.7%

After closing its medium and long-term securities issuance programme on June 17, 2020, with a total envelope of CFAF 219 billion, Cameroon returned to the...
Monday 29 June 2020Companies

Hevecam announces layoffs for economic reasons

Hévéa Cameroun (Hevecam), a subsidiary of the British rubber producer Corrie MacColl, is preparing to lay off some of its staff for economic reasons. The...
Monday 29 June 2020Economy

Port of Douala: The PAD enters a public-private partnership agreement for better management of its weighing business

The Port Authority of Douala (PAD) recently transferred its weighing business to Business Facilities Corporation SA (BFC), which in turn set up a project...
Monday 29 June 2020Finance

Leasing operator Alios Finance pays amortization of its 2018 bond loan

Leasing company Alios Finance Cameroon has, since June 19, 2020, released CFAF539 million to the central depository of the Central African Unified Stock...
Monday 29 June 2020Economy

Cameroon plans to create an export promotion agency to capitalize on the soon to be launched AfCFTA

Cameroon currently plans to create an export promotion agency to capitalize on the African Continental Free Trade Agreement (AfCFTA) being created. This...

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