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Yaoundé - 26 February 2024 -

Finance


cemac-beac-rejects-cryptocurrency-regulation-amid-fintech-demands

Cemac: Beac rejects cryptocurrency regulation amid fintech demands

In response to pressing calls from fintech companies to regulate cryptocurrencies in the CEMAC region, the Central Bank of Central African States (BEAC)...
advans-cameroun-secures-2mln-guarantee-for-rural-agricultural-financing
Wednesday 31 January 2024Finance

Advans Cameroun secures €2mln guarantee for rural agricultural financing

Advans Cameroun, a microfinance institution that specializes in providing financial support to very small businesses (VSB), received a portfolio guarantee...
beac-aims-for-1mln-payment-points-to-boost-cemac-financial-inclusion-by-2030
Wednesday 31 January 2024Finance

Beac aims for 1mln payment points to boost CEMAC financial inclusion by 2030

The Central Bank of Central African States (Beac) is considering creating one million payment points across the CEMAC region to achieve its strategic goal...
cemac-faces-financial-crisis-as-unpaid-bank-credits-surge-to-cfa1-917-9bn-by-2022
Wednesday 10 January 2024Finance

Cemac faces financial crisis as unpaid bank credits surge to CFA1,917.9bn by 2022

The outstanding non-repaid bank credits of the Central African Economic and Monetary Community (Cemac) reached CFA1,917.9 billion on December 31, 2022....
cameroon-s-state-recovery-corporation-recovers-cfa5-billion-in-2022-down-17-yoy
Wednesday 10 January 2024Finance

Cameroon's state recovery corporation recovers CFA5 billion in 2022, down 17% YoY

In 2022, the State Recovery Corporation of Cameroon (SRC) grappled with nine judicial decisions, totaling 46.297 billion XAF, as outlined in the report by...
yellow-card-administrator-faces-legal-woes-in-cameroon-over-financial-dispute
Tuesday 9 January 2024Finance

Yellow Card administrator faces legal woes in Cameroon over financial dispute

Crypto-currency exchange platform Yellow Card is caught up in a financial dispute, leading to the arrest of its board member, Jonie Banyong Fonyam Jr, a...
cameroon-s-industrial-sector-grapples-with-taxation-challenges-survey-reveals-concerns-and-calls-for-reform
Friday 22 December 2023Finance

Cameroon's industrial sector grapples with taxation challenges: Survey reveals concerns and calls for reform

The recently released industrial sector business climate survey by the Ministry of Economy, Planning, and Regional Development (Minepat) shows that 81% of...
cameron-repays-cfa95bn-debt-in-a-record-move-on-the-beac-securities-market
Friday 22 December 2023Finance

Cameron repays CFA95bn debt in a record move on the Beac securities market

Cameroon’s Treasury made a repayment of CFA95 billion on the Beac public securities market over the 72 hours from December 18 to December 20, 2023. In...
cameroon-urges-177-businesses-to-clear-tax-arrears-by-dec-22-aiming-to-exceed-annual-revenue-goal
Wednesday 20 December 2023Finance

Cameroon urges 177 businesses to clear tax arrears by Dec 22, aiming to exceed annual revenue goal

Cameroon’s Finance Minister Louis Paul Motaze issued a statement last December 12, urging 177 companies operating in the country to bring their tax...
moroccan-insurer-wafa-aims-for-top-spot-in-cameroon-s-market
Monday 11 December 2023Finance

Moroccan insurer Wafa aims for top spot in Cameroon's market

Wafa Vie Cameroon (WAVC), the local branch of Moroccan Wafa Assurance operating under the Attijariwafa Bank Group, aims to secure a spot among the top...
bvmac-introduces-its-first-market-index-the-bvmac-asi
Thursday 7 December 2023Finance

Bvmac introduces its first market index, the Bvmac ASI

On December 1, 2023, a committee in Douala, Cameroon, selected the name for the inaugural stock index of the Central African Securities Exchange (Bvmac),...
paris-roundtable-cemac-surpasses-funding-target-with-9-2bn-for-regional-integration-projects
Friday 1 December 2023Finance

Paris roundtable: CEMAC surpasses funding target with €9.2bn for regional integration projects

The funds pledged exceed the regional institution's initial target of €8.8 billion to finance infrastructure projects aimed at enhancing regional...
cameroon-s-tax-authority-launches-digital-assistance-platform-for-real-time-tax-support
Monday 27 November 2023Finance

Cameroon's tax authority launches digital assistance platform for real-time tax support

Cameroon’s General Tax Directorate announced it is launching a digital assistance platform next December 1st. Called "Help Desk,” this platform is...
cameroon-s-new-bond-investors-hold-steady-despite-slow-start-in-trading
Monday 27 November 2023Finance

Cameroon’s new bond: Investors hold steady despite slow start in trading

During its second trading day on November 24, 2023, 24 hours after being listed on the Central African Securities Exchange (Bvmac), the Cameroon...
unlocking-housing-finance-apeccam-focuses-on-solutions-for-cameroon-s-real-estate-challenges
Thursday 23 November 2023Finance

Unlocking housing finance: Apeccam focuses on solutions for Cameroon’s real estate challenges

The second edition of the Finance Mornings, organized by the Professional Association of Credit Institutions in Cameroon (Apeccam), is set to take place...
imf-and-cameroon-agree-to-extend-economic-program-until-2025
Tuesday 21 November 2023Finance

IMF and Cameroon agree to extend Economic Program until 2025

On November 17, 2023, the International Monetary Fund (IMF) announced it has reached a staff-level agreement with Cameroon to extend the existing...
cameroon-postpones-its-333-2mln-bond-issue-to-2024-amid-rating-worries-and-imf-support
Monday 20 November 2023Finance

Cameroon postpones its $333.2mln bond issue to 2024 amid rating worries and IMF support

Cameroon has postponed its $333.2 million international bond issuance until 2024, as revealed by Fitch Ratings in its latest creditworthiness...
cameroon-dominates-cemac-banking-with-60-of-accounts-and-28-8-network-aiming-for-growth-by-2030
Friday 17 November 2023Finance

Cameroon dominates Cemac banking with 60% of accounts and 28.8% network, aiming for growth by 2030

Cameroon dominated the banking sector of the Cemac region in 2022. According to data reported by the central bank Beac, the country alone houses slightly...
banks-unite-in-beac-s-market-navigating-tightened-monetary-policies
Friday 17 November 2023Finance

Banks unite in Beac's market, navigating tightened monetary policies

At the close of October 2023, Beac's secondary market for government securities registered a surge in interbank transactions via repurchase agreements...
access-bank-cameroon-making-giant-strides
Wednesday 15 November 2023Finance

Access Bank Cameroon Making Giant Strides

Having commenced operations on May 23rd, 2022, with one business office in Akwa, Access Bank Cameroon has continued investing in its expansion within the...
mobile-money-rivals-traditional-banks-in-the-cemac-region
Thursday 9 November 2023Finance

Mobile money rivals traditional banks in the CEMAC region

With 37 million accounts by 2022, Mobile Money now stands out as a significant competitor to traditional banks in terms of financial transactions in the...
gimac-reports-explosive-growth-in-electronic-money-transactions-in-2022
Thursday 9 November 2023Finance

Gimac reports explosive growth in electronic money transactions in 2022

The Interbank Monetary Group of Central Africa (Gimac) processed over 7.3 million electronic currency transactions in 2022.  The overall volume of...
bgfibank-cameroon-commits-cfa3-5bn-to-camwater-project-for-clean-water
Thursday 9 November 2023Finance

BGFIBank Cameroon commits CFA3.5bn to Camwater project for clean water

More details have emerged regarding the tripartite agreement signed on November 1, 2023, in Douala between Cameroon Water Utilities (Camwater), the...
the-regional-bank-distributes-40-of-profits-in-dividends-down-from-initial-60-proposal
Tuesday 7 November 2023Finance

The Regional Bank distributes 40% of profits in dividends, down from initial 60% proposal

The regional bank has reduced the amount it had initially planned to distribute as dividends for the FY2022. From 1.5 billion (60% of its profits) agreed...
cameroon-s-debt-servicing-hit-cfa98bn-in-september-2023
Friday 3 November 2023Finance

Cameroon's debt servicing hit CFA98bn in September 2023

Cameroon spent a total of CFA98.1 billion on debt servicing in September 2023, excluding outstanding payables and repayment of fungible Treasury bills...
banque-atlantique-cameroun-rises-to-improve-the-quality-of-its-service-and-customer-experience-in-its-branches
Monday 30 October 2023Finance

banque atlantique Cameroun rises to improve the quality of its service and customer experience in its branches

Banque Atlantique Cameroun, a banking institution of systemic importance, has been in legal operations in the Cameroon’s banking market since 2009 and...
socapalm-s-h1-2023-profit-up-15-6-yoy-despite-lower-production
Thursday 26 October 2023Finance

Socapalm's H1 2023 profit up 15.6% yoy, despite lower production

Cameroon’s palm company Socapalm reported a 15.6% increase in net profit after tax during the first half of 2023, reaching CFA13.7 billion, up from...
cameroon-completes-2018-23-bond-repayment-on-the-regional-money-market
Wednesday 25 October 2023Finance

Cameroon completes 2018-23 bond repayment on the regional money market

The Cameroonian Treasury is soon going to complete the repayment of the money it raised on the regional market between 2018 and 2023. The final...
cameroon-ranks-5th-in-africa-25th-worldwide-for-tax-transparency
Wednesday 18 October 2023Finance

Cameroon ranks 5th in Africa, 25th worldwide for tax transparency

The latest Global Tax Expenditures Transparency Index (GTETI) places Cameroon as the 5th country most tax transparent in Africa and the 25th...
cameroon-s-bond-prices-reached-the-highest-ever-record-on-beac-market-in-sep-2023
Monday 16 October 2023Finance

Cameroon's bond prices reached the highest-ever record on Beac market in Sep. 2023

The average cost of Cameroon's Treasury bond (OTA) issues on the Beac market stood at 7.2% in September 2023, according to the monthly stats bulletin...
beac-public-securities-market-thrives-in-2023-despite-rising-interest-rates
Monday 2 October 2023Finance

Beac public securities market thrives in 2023, despite rising interest rates

The Bank of Central African States -BEAC- noted a good momentum on the primary public securities market throughout the year, despite a constant increase...


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