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Yaoundé - 20 October 2020 -

Finance


cameroon-lost-xaf84-2-bln-of-tax-revenues-in-2019-because-of-the-sonara-fire-outbreak-minfi

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...
bvmac-leading-shareholder-bgd-sells-its-stakes
Thursday 15 October 2020Finance

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
Wednesday 14 October 2020Finance

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
Friday 9 October 2020Finance

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
Thursday 8 October 2020Finance

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
Wednesday 7 October 2020Finance

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-repo-operations-represented-57-3-of-funds-exchanged-on-the-interbank-market-in-june-2020-beac
Tuesday 6 October 2020Finance

CEMAC: Repo operations represented 57.3% of funds exchanged on the interbank market in June 2020 (BEAC)

Interbank lending rose by 62.3% to XAF190.6 billion in June 2020 (after a 38.7% drop in May 2020) in the CEMAC region, according to the monthly market...
cemac-credit-costs-rise-by-1-within-12-months-on-the-money-market-due-to-increased-demand
Tuesday 6 October 2020Finance

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
Monday 5 October 2020Finance

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
Friday 2 October 2020Finance

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
Friday 2 October 2020Finance

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
Wednesday 30 September 2020Finance

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...
cemac-cameroon-to-end-q3-2020-fundraising-operations-by-raising-xaf20-billion-on-the-public-securities-market
Tuesday 29 September 2020Finance

CEMAC: Cameroon to end Q3-2020 fundraising operations by raising XAF20 billion on the public securities market

Cameroon will, on September 30, 2020, close its fundraising operations on the BEAC public securities market for Q3-2020, by issuing 26-week treasury...
cameroon-plans-to-raise-xaf180-bln-on-the-money-market-in-q4-2020
Tuesday 29 September 2020Finance

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
Friday 25 September 2020Finance

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
Thursday 24 September 2020Finance

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
Wednesday 23 September 2020Finance

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
Tuesday 22 September 2020Finance

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-boosted-by-the-coronavirus-pandemic-long-term-securities-made-up-53-6-of-overall-issuance-in-q2-2020
Friday 18 September 2020Finance

CEMAC: Boosted by the coronavirus pandemic, long-term securities made up 53.6% of overall issuance in Q2-2020

CEMAC countries raised XAF849.5 billion on the BEAC debt market in Q2-2020. This represents a 27.2% rise quarter-over-quarter. This is revealed in the...
cemac-beac-injected-over-xaf60-bln-in-the-banking-market-within-two-days
Thursday 17 September 2020Finance

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...
societe-generale-securities-services-extends-its-custodian-offers-to-cameroon
Thursday 17 September 2020Finance

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
Wednesday 16 September 2020Finance

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
Tuesday 8 September 2020Finance

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...
cemac-with-xaf321-bln-cameroonian-banks-had-the-largest-reserves-at-the-beac-at-end-may-2020-beac
Wednesday 2 September 2020Finance

CEMAC: With XAF321 bln, Cameroonian banks had the largest reserves at the BEAC at end May 2020 (BEAC)

At End May 2020, the volume of Cameroonian banks’ reserves at BEAC, the central bank of CEAMC countries, was XAF321.4 billion. This was up by XAF878...
covid-19-bgfi-opens-a-xaf10-bln-credit-line-to-support-cameroonian-smes
Tuesday 1 September 2020Finance

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
Monday 31 August 2020Finance

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
Monday 31 August 2020Finance

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...
cameroon-pays-over-xaf21-bln-of-interest-charges-on-xaf450-4-bln-eurobond-despite-the-covid-19-pandemic
Friday 28 August 2020Finance

Cameroon pays over XAF21 bln of interest charges on XAF450.4 bln Eurobond despite the covid-19 pandemic

On May 19, 2020, Cameroon paid interest charges on the XAF450.4 bln (swap charges excluded) Eurobond it issued in 2015. This payment has become a routine...
beac-launches-webinar-to-explain-how-companies-can-successfully-get-listed-on-the-cemac-unified-stock-exchange
Wednesday 26 August 2020Finance

Beac launches webinar to explain how companies can successfully get listed on the CEMAC unified stock exchange

Today August 26, the Bank of Central African States (BEAC) and PwC Cameroon are organizing a webinar on the dynamization of the CEMAC unified stock...
cameroon-bicec-and-societe-generale-concentrated-almost-50-of-bank-loans-granted-to-economic-agents-in-h2-2020-beac
Friday 21 August 2020Finance

Cameroon: Bicec and Société Générale concentrated almost 50% of bank loans granted to economic agents in H2-2020 (BEAC)

Between July and December 2019, banks operating in Cameroon granted XAF2,109 billion of loans to economic agents (down 16.7% year-over-year), the central...
golar-lng-ltd-records-outstanding-ebitda-in-q1-2020-thanks-to-hili-episeyo-s-strong-performance-snh
Thursday 20 August 2020Finance

Golar LNG Ltd records outstanding EBITDA in Q1-2020 thanks to Hili Episeyo’s “strong performance” (SNH)

In Q1-2020, Golar LNG Ltd (one of the operators of the floating LNG plant, Hili Episeyo, operating in Kribi) recorded an EBITDA of $76.2 million...


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