Finance
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...
S. Korea pledges CFA4bln to build three digital campuses in Cameroon
Camwater initiates “aggressive” campaign to recover XAF50 bln out of XAF61.3 bln unpaid bills
Cameroon-Nigeria : Trade exchanges fell by 81% in 2015-2019 due to the anglophone crisis and war against Boko Haram
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
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
Cameroon is currently moving to regulate cryptocurrencies in the country. Indeed, according to the Ministry of Posts and Telecommunications (Minpostel), a...
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
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
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
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
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
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
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
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
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 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
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...
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
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...
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
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
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
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
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
The Central African Banking Commission (COBAC) recently appointed a new liquidator for Compagnie équatoriale pour l’épargne et l’investissement (Comeci),...
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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