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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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)....
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...
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...
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....
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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,...
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...
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),...
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...
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...
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...
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...
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....
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...
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...
Cameroon renounces the concession of more than 130,000 ha of forest area in the Littoral
Vallée du Ntem: Residents oppose Neo Industry’s planned investment
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Business in Cameroon n90: June 2020
Top 100 economic actors in Cameroon
Colonel Roger Kuitche: “Military strategy is an important tool that will beneft businesses and public administrations”
Investir au Cameroun n100 Juillet-Août 2020
Le Top 100 des acteurs économiques du Camerouns
Colonel Roger Kuitche : « la stratégie militaire appliquée aux entreprises et aux administrations est un outil à exploiter »
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