Finance
Cameroon lost XAF84.2 bln of tax revenues in 2019 because of the Sonara fire outbreak (MINFI)
The fire outbreak at Sonara’s plant on May 31, 2019, has had significant impacts on the revenues collected by the general directorate of taxes. According...
BIR rescues Patrice Porte and many others kidnapped in Kribi
Frequency band management: 66 radios broadcast without a valid license in Yaoundé, MINPOSTEL reveals
BVMAC: Leading shareholder BGD sells its stakes
On October 8, 2020, the Central African Stock Exchange (BVMAC) held an ordinary meeting of its board of directors. During the session, Gabon Development...
Cameroon: Saved from bankruptcy by the State, Commercial Bank-Cameroon is regaining its momentum
On October 7, 2020, Cameroon’s public treasury successfully raised XAF35 billion on the CEMAC money market. 37.5% of the envelope (XAF13 billion) came...
Beac authorizes the operations of Afriland Bourse & Investissement
Afriland Bourse & Investissement (approved in July 2020, by capital market supervisor COSUMAF) is since, October 1, 2020, authorized to conduct...
Money Market: Cameroon starts Q4-2020 on the right foot by successfully raising XAF20 bln
Six (6) of the twenty one (21) primary dealers approved by Cameroon on the BEAC public securities market recently mobilized XAF20 billion for the country....
Jules Ngankam confirmed as MD of pan-African guarantee fund AGF
Cameroonian economist and statistical engineer, Jules Ngankam, was confirmed for the position of Managing director of the African Guarantee Fund (AGF)...
Cemac: Credit costs rise by 1% within 12 months on the money market due to increased demand
The activities of CEMAC countries’ public treasuries on the BEAC public securities market rose by 40.2% between June 2019 and June 2020. According to a...
Cameroon: Over XAF12 bln of non-tax revenues were diverted in H1-2020 (MINFI)
The Ministry of Finance (Minfi) recently published a report on the special conferences on non-tax revenue budgeting held in Yaoundé in September...
ENEO projects XAF165 bln of accumulated net earnings over 2021-2025
Electric utility ENEO projects an average of XAF33 billion of accumulated earnings and profits yearly over the coming five (5) years. Indeed, the company...
CEMAC: Oil revenues dropped by XAF500 bln YoY in Q1-2020 (BEAC)
The Bank of Central African States (BEAC) recently published a report on CEMAC countries’ budgetary implementation in Q1-2020. According to the report,...
CEMAC: Central Bank BEAC sets commissions to be collected on outgoing wire transfers in 2021
On September 22, Abbas Mahamat Tolli (photo), governor of the Bank of Central African States (BEAC), signed a decision allowing the BEAC (central bank of...
Cameroon plans to raise XAF180 bln on the money market in Q4-2020
After a slight break following its series of bonds issuance thanks to which it raised XAF219.4 billion (between April and June 2020), Cameroon is...
Cameroon: UBA Cameroon served as an intermediary bank for 52.9% of cocoa sold in 2019-2020 (ONCC)
Eleven (11) commercial banks operating in Cameroon served as intermediaries between cocoa exporters in Cameroon and their foreign buyers during the...
Cameroon: UBA Cameroon partners with local cryptocurrency leader Global Investment Trading
UBA Cameroon informs that it recently entered into a partnership with the Cameroonian leader of the cryptocurrency market Global Investment Trading...
Cameroon: Ivorian Sylvain Kakou becomes IFC’s regional manager for Central Africa
Ivorian Sylvain Kakou (photo) is the International Financial Corporation’s (IFC) new regional manager for the Central African region. He replaces his...
CEMAC: Cameroon, Gabon, and Congo’s public securities were the most sought after in Q2-2020 (BEAC)
In Q2-2020, the treasury bills issued by Cameroon, Gabon, and Congo (to a lesser extent) were the most sought after, according to the quarterly bulletin...
CEMAC: BEAC injected over XAF60 bln in the banking market within two days
Between September 14 and 15, 2020, the central bank of CEMAC states refinanced seven banks operating in the region with XAF62 billion, official sources...
Société Générale Securities Services extends its custodian offers to Cameroon
Société Générale Securities Services (SGSS) recently announced that it has partnered with Société Générale Cameroun (SGC) to expand its custody/securities...
Cameroon: School loans is one of the drivers of the personal loans market (BEAC)
On this eve of school resumption (planned for October 5, 2020, after six months of break imposed by the coronavirus pandemic), banks and microfinance...
Geocoton eyes majority shareholding in SODECOTON
In July 2020, Abbas Jaber (photo), founding president of Geocoton (a French group that owns 30% of SODECOTON), was granted an audience by Ferdinand Ngoh...
Covid-19: BGFI opens a XAF10 bln credit line to support Cameroonian SMEs
Today September 1, 2020, BGFI Cameroon signed an agreement with the Cameroonian government to support SMEs affected by the coronavirus crisis. The bank...
CEMAC: Banks granted more loans to individuals than to SMEs in H1-2019, BEAC report shows
Between July and December 2019, banks operating within the CEMAC region granted more loans to individuals than to SMEs, according to a report recently...
Cameroon: Interest expenses will rise in the coming quarters, a BEAC study estimates
Cameroon’s interest expenses will rise in the coming quarters, according to a study on the impacts of the coronavirus pandemic on the country’s economy...
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