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Yaoundé - 30 November 2021 -

Finance


gwendoline-abunaw-md-of-ecobank-cameroon-becomes-head-of-the-cemac-cluster

Gwendoline Abunaw, MD of Ecobank Cameroon, becomes Head of the CEMAC cluster

Gwendoline Abunaw, Managing Director of Ecobank Cameroon, has recently been appointed Managing director of the cluster ECOBANK CEMAC, an official release...
cameroon-officially-takes-over-54-stake-in-union-bank-of-cameroon
Wednesday 24 November 2021Finance

Cameroon officially takes over 54% stake in Union Bank of Cameroon

On November 23, 2021, the Union Bank of Cameroon (UBC) issued a release announcing the finalization of a stake acquisition process started by the...
cameroon-average-interest-rates-on-treasury-bills-rise-to-2-61-in-oct-2021
Friday 12 November 2021Finance

Cameroon: Average interest rates on treasury bills rise to 2.61% in Oct 2021

In its recent report on the state of the CEMAC government securities market in October 2021, it appears that the cost of the treasury bills issued by...
cameroon-plans-a-national-cryptocurrency-regulation
Thursday 11 November 2021Finance

Cameroon plans a national cryptocurrency regulation

Cameroon is currently moving to regulate cryptocurrencies in the country. Indeed, according to the Ministry of Posts and Telecommunications (Minpostel), a...
another-cameroonian-assumes-the-role-of-chairman-of-the-board-of-standard-chartered-bank-cote-d-ivoire
Wednesday 10 November 2021Finance

Another Cameroonian assumes the role of chairman of the board of Standard Chartered Bank Côte d'Ivoire

The positions of Chief Executive Officer (CEO) and Chairman of the Board of Directors of Standard Chartered Bank Côte d'Ivoire, the first fully digital...
sonara-cameroon-is-on-the-verge-of-reaching-a-10-year-repayment-deal-for-a-xaf371-bln-debt-owed-to-oil-traders
Tuesday 9 November 2021Finance

Sonara: Cameroon is on the verge of reaching a 10-year repayment deal for a XAF371 bln debt owed to oil traders

On October 15, 2021, Cameroon signed a repayment agreement for the XAF261.4 billion debt owed by the national refinery SONARA to nine local banks....
cameroon-spent-over-xaf172-bln-of-interest-and-commission-expenses-on-public-debt-in-jan-sep
Tuesday 9 November 2021Finance

Cameroon spent over XAF172 bln of interest and commission expenses on public debt in Jan-Sep

Between January and September 2021, Cameroon disbursed XAF835.9 billion to service its domestic and foreign debt, according to the national sinking fund...
cameroon-life-insurance-firm-acam-vie-launches-micro-savings-plan-through-mobile-money-services
Tuesday 9 November 2021Finance

Cameroon: Life insurance firm Acam Vie launches micro-savings plan through mobile money services

Life insurance firm Acam Vie recently launched an offer baptized Open Life in the Cameroonian market.  This offer allows cellphone or tablets users...
banque-atlantique-cameroun-on-the-move-to-get-controversial-cobac-sanctions-overturned
Saturday 6 November 2021Finance

Banque Atlantique Cameroun on the move to get controversial COBAC sanctions overturned

In 2008, Atlantic Financial Group took over the almost bankrupt Amity Bank. Thirteen years later, the credit institution, renamed Banque Atlantique...
cameroon-raises-xaf40-5-bln-within-a-week-on-the-beac-public-securities-market
Thursday 4 November 2021Finance

Cameroon raises XAF40.5 bln within a week on the BEAC public securities market

Between October 27 and November 3, 2021, the Cameroonian public treasury raised XAF40.5 billion on the public securities market of the Bank of Central...
alain-malong-exits-alucam-for-a-senior-executive-position-in-societe-generale-cameroon
Thursday 4 November 2021Finance

Alain Malong exits ALUCAM for a senior executive position in Societe Generale Cameroon

Alain Malong, who was till recently the managing director of state-owned steel producer ALUCAM, has been discreetly appointed chairman of the...
bange-bank-cameroon-opens-its-first-agency-in-douala
Monday 1 November 2021Finance

Bange Bank Cameroon opens its first agency in Douala

Bange Bank Cameroon officially opened its first Cameroonian agency at Akwa, the business district of Douala, on October 28, 2021. After that agency, a...
cemac-beac-calls-for-relaxed-taxes-on-mobile-money-transactions-to-facilitate-financial-inclusion
Friday 29 October 2021Finance

CEMAC: BEAC calls for relaxed taxes on mobile money transactions to facilitate financial inclusion

In its recent report on the state of electronic payment in the CEMAC region in 2020, the Bank of Central African States (BEAC) lobbied for relaxed...
cameroonian-financier-louis-banga-ntolo-becomes-new-ceo-of-regional-stock-market-bvmac
Wednesday 27 October 2021Finance

Cameroonian Financier Louis Banga-Ntolo becomes new CEO of regional stock market BVMAC

At the end of a Board meeting on October 25, 2021, in Libreville, Cameroonian financier Louis Banga-Ntolo was confirmed CEO of the Central African Stock...
cemac-beac-suggests-a-reform-of-legal-framework-to-spur-development-of-mobile-microcredits
Wednesday 27 October 2021Finance

CEMAC: BEAC suggests a reform of legal framework to spur development of mobile microcredits

In its recent report on the state of electronic payments in the CEMAC region in 2020, the Bank of Central African States (BEAC) points out that mobile...
bvmac-listed-microfinance-la-regionale-announces-10-5-yoy-growth-for-its-h1-2021-turnover
Wednesday 27 October 2021Finance

BVMAC-listed microfinance “La Régionale” announces 10.5% YoY growth for its H1-2021 turnover

“LA Régionale”, the Cameroonian microfinance institution that entered the regional exchange market BVMAC last February, announces good performance for...
central-bank-beac-withdraws-nexttel-s-mobile-money-service-license
Tuesday 26 October 2021Finance

Central bank BEAC withdraws Nexttel’s mobile money service license

Benoît Yaoussou will not be able to launch Nexttel’s mobile money service “by the end of 2021” as he wished for when assuming office as the CEO of the...
cryptocurrency-cameroonian-law-firm-fousse-reports-liyeplimal-to-special-criminal-court-over-fraud-suspicion
Tuesday 26 October 2021Finance

Cryptocurrency: Cameroonian law firm Fousse reports Liyeplimal to special criminal court over fraud suspicion

Global Investment Trading, popularly known as Liyeplimal, was recently accused of funds misappropriation and fraud before the Special Criminal Court,...
cemac-banking-watchdog-cobac-lowers-capital-conservation-buffer-due-to-negative-impacts-of-covid-19-on-credit-and-microfinance-institutions
Monday 25 October 2021Finance

CEMAC: Banking watchdog COBAC lowers capital conservation buffer due to negative impacts of Covid-19 on credit and microfinance institutions

On October 21, Halilou Yerima Boubakary (photo), secretary-general of the Central African Banking Commission (COBAC) informed the Managing Directors of...
cemac-with-64-8-of-accounts-and-73-1-of-transactions-cameroon-confirms-leadership-in-the-mobile-money-market-in-2020
Monday 25 October 2021Finance

CEMAC: With 64.8% of accounts and 73.1% of transactions, Cameroon confirms leadership in the mobile money market in 2020

In 2020, 30.1 million mobile money accounts were active in the CEMAC zone, according to the Bank of Central African States (BEAC). In its recent report...
cameroonian-born-john-mokom-takes-over-the-management-of-standard-chartered-cote-d-ivoire
Thursday 21 October 2021Finance

Cameroonian-born John Mokom takes over the management of Standard Chartered Côte d'Ivoire

Cameroonian-born John Ngu Mokom was recently appointed Managing director of Standard Chartered Bank Côte d'Ivoire, the only fully digital bank in the...
sonara-cameroon-expects-restructuring-plan-with-oil-traders-after-recent-agreement-with-local-banks
Tuesday 19 October 2021Finance

SONARA: Cameroon expects restructuring plan with oil traders after recent agreement with local banks

After the restructuring of the debt owed by state refinery SONARA to nine local banks last October 15, the Cameroonian government hopes it can reach a...
henri-claude-oyima-we-will-show-the-determination-and-commitment-of-the-bgfibank-group-to-make-bgfibank-cameroon-the-spearhead-of-the-national-economy
Monday 18 October 2021Finance

Henri-Claude Oyima: “We will show the determination and commitment of the BGFIBank group (...) to make BGFIBank Cameroon the spearhead of the national economy”

Around a decade after starting operations in Cameroon, BGFIBank began, last month, building its social headquarters in the country. The 8-floor building...
sonara-government-officializes-repayment-plan-for-xaf261-4-bln-owed-to-9-local-banks
Friday 15 October 2021Finance

Sonara: Government officializes repayment plan for XAF261.4 bln owed to 9 local banks

Today October 15, in Yaoundé, Minister of Finance Louis Paul Motaze is presiding over the officialization of a repayment plan for a XAF261.4 billion debt...
cemac-exchange-market-bvmac-announces-the-creation-of-a-stock-academy-in-douala
Friday 15 October 2021Finance

CEMAC: Exchange market BVMAC announces the creation of a stock academy in Douala

Douala, the economic capital of Cameroon and host town of the Central African Stock Exchange (BVMAC), could soon host a stock trading academy. This was...
cemac-cosumaf-plans-to-introduce-green-sustainable-and-social-bonds-on-the-bvmac
Wednesday 13 October 2021Finance

CEMAC: COSUMAF plans to introduce green, sustainable, and social bonds on the BVMAC

On October 11, in Douala, the Central African Financial Market Oversight Commission (COSUMAF) expressed its ambition to introduce green, sustainable, and...
mineral-water-producer-semc-posts-xaf729-mln-net-profit-for-h1-2021-after-net-losses-in-2020
Wednesday 13 October 2021Finance

Mineral water producer SEMC posts XAF729 mln net profit for H1-2021 after net losses in 2020

Société des Eaux minérales du Cameroun (SEMC), SABC group’s arm in the water segment in Cameroon, posts a XAF729 million net profit for the first half of...
cameroonian-fintech-ejara-raises-over-xaf1-bln-to-boost-operations
Tuesday 12 October 2021Finance

Cameroonian fintech Ejara raises over XAF1 bln to boost operations

Douala-based fintech Ejara announced the successful completion of a US$2 million (over XAF1 billion) fundraising operation it launched. Thanks to the...
cameroon-bank-watchdog-cobac-appoints-new-liquidator-for-bankrupt-microfinance-comeci-sa
Monday 11 October 2021Finance

Cameroon: Bank watchdog COBAC appoints new liquidator for bankrupt microfinance Comeci SA

The Central African Banking Commission (COBAC) recently appointed a new liquidator for Compagnie équatoriale pour l’épargne et l’investissement (Comeci),...
cemac-financial-market-commission-cosumaf-initiates-investors-week-to-boost-investment-culture-in-the-region
Friday 8 October 2021Finance

CEMAC: Financial market commission COSUMAF initiates investors’ week to boost investment culture in the region

From October 12 to 14, in Douala, the Central African Financial Market Oversight Commission (COSUMAF) will organize a workshop in the framework of the...
debt-market-cameroon-inaugurates-q4-2021-with-two-public-security-issuances
Thursday 7 October 2021Finance

Debt market: Cameroon inaugurates Q4-2021 with two public security issuances

On September 29, 2021, Cameroon successfully raised XAF76.9 billion out of the XAF80 billion it was sourcing on the BEAC public securities market. The...

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