Yaoundé - 30 September 2023 -
Banking and Finance

AfDB grants Cameroon CFA9.6bn loan to improve public finance management

AfDB grants Cameroon CFA9.6bn loan to improve public finance management
  • Comments   -   Wednesday, 21 December 2022 16:03

(Business in Cameroon) - The African Development Bank (AfDB) announced it has approved a loan of $15.64 million (about CFA9.6 billion) to Cameroon to help improve the country’s public finance management. The money was channeled through the African Development Fund, AfDB concessional window.

According to official information, the fund lender will support the Cameroonian General Directorate of Taxes (DGI) in the development and implementation of its upgrading plan through the dematerialization and digitization of the tax system. "This will make it possible to strengthen the efficiency of tax revenue mobilization, expand the non-oil tax base, and better secure revenues by lowering the risks of tax evasion and avoidance," the AfDB explains.

Actions also include the establishment of a system for analyzing the effectiveness, feasibility, and monitoring-evaluation of the public investment budget. "A project monitoring software will be acquired for this purpose. It will allow the development of a manual of procedures for the review of major investment projects," we learn.

In addition, the alert mechanism against economic malpractice and illicit financial flows will be strengthened. The aim is to improve the integrity of the regulatory and institutional framework for public financial management, with a positive impact on the efficiency and effectiveness of spending. To support this activity, the partners planned to set up a public procurement information system thanks to the development of massive data on public procurement to ease the intelligent processing of these data.


The Algerian national airline, Air Algérie, is preparing for its first flight from Algiers to Douala on October 12. This information was revealed by the...
Only a few months after their release, forgers have already found a way to make the counterfeit versions of the new range of banknotes put into...
The Yaoundé Urban Community (CUY) plans, in its new model, to start providing 100% of the financial resources needed for waste collection in the...
Cameroon's waste collection company, Hysacam, could face a further reduction in its market share in Yaoundé in the coming months. Hysacam, along with...

Mags frontpage

Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer

Albert Zeufack: “Today, the most important market is in Asia”

Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir

Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »