logoBC
Yaoundé - 18 October 2019 -
Public management

Cameroon to secure XAF5bln monthly in escrow for commune financing  

Cameroon to secure XAF5bln monthly in escrow for commune financing  
  • Comments   -   Thursday, 11 April 2019 10:39

(Business in Cameroon) - Cameroonian Finance Minister, Louis Paul Motazé (photo), announced the state is opening an escrow account with the Bank of Central African States (Beac) to ensure better financing for municipalities.

Escrow will receive XAF5 billion every month from the single Treasury account as additional municipal taxes. The move is to tackle disrupted financing due to the delay in monies transfer from the treasury account to the Special Inter-municipal Equipment and Intervention Fund (Feicom) which is the mechanism through which the government distributes the additional municipal taxes.

Thanks to this account, communes should now receive more quickly the estimated XAF160 billion granted each year, thus carry out development projects more efficiently.

BRM

france-first-supplier-of-imported-products-under-cameroon-s-economic-partnership-with-the-eu
Between August 4, 2016, and August 4, 2019, under the economic partnership agreement with the European Union, there were four main suppliers for products...
cameroon-successes-and-challenges-of-the-construction-of-the-nationale-n-15
While the lot 4 (44.9-km Yoko-Lena section) of the Nationale n° 15 Batchenga (Centre)-Ntui-Yoko-Lena-Tibati (Adamaoua) has been completed already,...
cemac-authorities-praise-a-rise-in-the-volume-of-currency-channeled-back-by-banks-to-the-beac
At the end of the ordinary meeting of the Central African Monetary Union (UMAC)’s ministerial council, in Yaoundé, on October 2, 2019, CEMAC authorities...
cameroon-18-carriers-authorized-to-operate-in-nov-2019-march-2020
Cameroon Civil Aviation Authority (CCAA) recently published the winter 2019/2020 flying schedule of carriers operating in Cameroon. For the winter, which...

Mags frontpage


Business in Cameroon n80: October 2019

Agribusiness: Brazil ready to show Cameroon the way to higher spheres


Reviewing the state of things in the North and Far North


Investir au Cameroun n90: Octobre 2019

Le coût faramineux de la « crise anglophone »


Décollage réussi pour la Transahélienne de Camair-Co