Yaoundé - 26 January 2021 -



Cameroon: Funds transferred into the TSA should reach XAF150 billion by end 2020 (IMF)

Cameroon: Funds transferred into the TSA should reach XAF150 billion by end 2020 (IMF)
  • Comments   -   Tuesday, 18 August 2020 13:00

(Business in Cameroon) - In the framework of the ongoing 3-year economic and financial program with the IMF, Cameroon promised to accelerate the Treasury Single Account (TSA) reform this year.

This reform provides that all government agencies (public companies excluded) will close the accounts they have in the books of commercial banks, and transfer funds from those accounts to a single account opened in the books of the central bank BEAC.

According to a country report published by the IMF, the funds transferred in that TSA should reach XAF150 billion by end 2020, up from XAF44.5 billion in 2019. Cameroonian authorities are also expected to centralize their counterpart funds for joint projects in a single basket fund.

“This will improve the monitoring and forecasting of the government’s consolidated cash position and support the preparation of monthly and annual cash management plans,” the IMF indicates. According to the Bretton Woods institution, the TSA is crucial for improved management of the treasury since the consolidation of government agencies’ accounts in the TSA will boost transparency and favor active treasury management.

Sylvain Andzongo

Minister of Communication René Emmanuel Sadi recently published a list of 155 companies authorized to carry out advertising consulting and...
Gervais Bolenga (general manager of Cameroon water utilities corporation-Camwater) announces that he recently issued a national call for tenders...
The Cameroonian Ministry of Public Works (Mintp) informs that today January 26, 2021, it will proceed to the provisional acceptance of 150 kilometers of...
In 2020, Cameroon’s local production covered just 24.3% of its rice demand, according to figures published by the Ministry of Agriculture  (MINADER)....

Mags frontpage

Business in Cameroon n94: December 2020

The rise of Cameroon’s automotive industry

The «Made in Cameroon» war

Investir au Cameroun n104 Décembre 2020

L’émergence d’une industrie automobile camer

La bataille du « Made in Cameroon »