(Business in Cameroon) - Under the 2018 Cameroon Finance Act, banks are required to monthly transmit to the Customs administration all information relating to foreign trade operations (exports, imports and transfers).

This strategy made it possible to collect CFA200 million from foreign trade operations since the year began, the Foreign Trade and Foreign Exchange Financial Operations Control Division (DGD6) said in its internal journal of 1 October 2018.

DGD6 has a mini server and is in the process of developing an application called “Traceur” (tracer) that will identify the most remarkable operations using data from the IT division in Douala. Operations will then be cross-referenced, in order to verify their veracity and even their authenticity.

“Progress is being made and we have already collected about CFA200 million in a few months. Several cases are currently being examined within the Division,” the customs administration said. It hopes to significantly improve revenues in 2018 from the only CFA732.7 billion collected in 2017 when target was CFA800 billion.

S.A