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Yaoundé - 26 July 2021 -

Finance


bvmac-la-regionale-shares-close-the-fifth-trading-day-at-xaf42-000

BVMAC: “La Régionale” shares close the fifth trading day at XAF42,000

On July 21, 2021, five days after its first trading day on the equities segment of the Central African Stock exchange BVMAC, the “La Régionale” shares...
prudential-beneficial-and-mtn-cameroon-launch-a-low-cost-insurance-package-to-guarantee-education-for-the-youth
Tuesday 13 July 2021Finance

Prudential Beneficial and MTN Cameroon launch a low-cost insurance package to guarantee education for the youth

About a month ago, insurance firm Prudential Beneficial and MTN Cameroon launched an insurance product to guarantee education in Cameroon, credible...
cemac-beac-reactivates-the-financial-standardization-committee-to-ensure-proper-management-of-new-payment-systems
Tuesday 13 July 2021Finance

CEMAC: BEAC reactivates the financial standardization committee to ensure proper management of new payment systems

On July 7, 2021, the Bank of Central African States (BEAC)’s Financial Standardization Technical Committee CORENOFI came out of its decades-long...
cemac-beac-liquidity-injections-are-slowing-activities-in-the-interbank-market
Wednesday 7 July 2021Finance

CEMAC: BEAC liquidity injections are slowing activities in the interbank market

Commercial banks’ growing attraction for weekly liquidity injection operations organized by the Bank of Central African States (BEAC) is affecting the...
orange-cameroon-boasts-70-momo-market-share-with-cfa800bn-in-monthly-transactions
Wednesday 7 July 2021Finance

Orange Cameroon boasts 70% MoMo market share with CFA800bn in monthly transactions

Mobile operator Orange Cameroon announced it controls 70% of the market share on the Mobile Money segment with estimated monthly cumulative transactions...
standard-chartered-bank-cameroon-closes-retail-segment-to-focus-on-wholesale-banking
Monday 5 July 2021Finance

Standard Chartered Bank Cameroon closes retail segment to focus on wholesale banking

Standard Chartered Bank Cameroon recently announced that it is closing its retail segment in Cameroon. The operation started on June 30, 2021, with the...
societe-generale-appoints-mareme-mbaye-ndiaye-as-regional-director-for-east-and-central-africa
Friday 2 July 2021Finance

Société Générale appoints Marème Mbaye Ndiaye as regional director for East and Central Africa

Effective July 5, 2021, Senegal-born Marème Mbaye Ndiaye became the regional director of Société Générale in East and Central Africa. The executive who...
cameroon-born-georges-wega-joins-societe-generale-group-s-management-committee
Thursday 1 July 2021Finance

Cameroon-born Georges Wega joins Société Générale group’s management committee

Cameroon-born Georges Wega, who is currently Société Générale's regional director in West Africa, is now Deputy Director of the international banking...
eurobond-refinancing-cameroon-raises-xaf450-bln-at-a-5-95-interest-rate-significantly-lower-than-the-initial-9-5-in-2015
Thursday 1 July 2021Finance

Eurobond Refinancing: Cameroon raises XAF450 bln at a 5.95% interest rate, significantly lower than the initial 9.5% in 2015

Yesterday June 30, the Cameroonian government announced the stellar success of its XAF450 billion Eurobond refinancing operation. Issued in 2015, the...
cemac-the-afdb-to-provide-close-to-xaf2-bln-institutional-support-for-a-financial-market-development-project
Wednesday 30 June 2021Finance

CEMAC: The AfDB to provide close to XAF2 bln institutional support for a financial market development project

On June 29, 2021, the African Development Bank (AfDB) approved the regional project for the development of the CEMAC financial sector with a US$3.6...
debt-collection-agency-src-initiates-recovery-of-over-xaf60-bln-owed-by-cbc-s-clients
Monday 28 June 2021Finance

Debt collection agency SRC initiates recovery of over XAF60 bln owed by CBC`s clients

Cameroon`s debt collection agency SRC is currently planning to initiate the recovery of XAF60.137 billion owed to the Commercial Bank of Cameroon (CBC )...
cemac-cameroon-raises-only-xaf34-8-bln-despite-the-xaf40-2-bln-subscriptions-to-its-june-16-bond-isuance-operation
Wednesday 23 June 2021Finance

CEMAC: Cameroon raises only XAF34.8 bln despite the XAF40.2 bln subscriptions to its June 16 bond isuance operation

During its June 16, 2021, long-term security issue, Cameroon raised only XAF34.8 billion out of the 50 billion it was sourcing through the issuance of...
cemac-panafrican-group-africa-bright-securities-becomes-an-official-broker-on-the-bvmac
Friday 18 June 2021Finance

CEMAC: Panafrican group Africa Bright Securities becomes an official broker on the BVMAC

Officially, Panafrican group Africa Bright Securities, is, since June 15, 2021, a brokerage firm authorized to operate on the Central African Stock...
cameroon-heads-back-to-the-beac-debt-market-to-raise-xaf50-bln-through-issuance-of-6-year-bonds
Thursday 17 June 2021Finance

Cameroon heads back to the BEAC debt market to raise XAF50 bln through issuance of 6-year bonds

On June 16, 2021, after a 1-month break, Cameroon headed back to the Bank of Central African States (BEAC)’s public securities market to issue new...
ecobank-partners-with-campost-to-bring-banking-services-closer-to-the-non-connected-population
Thursday 17 June 2021Finance

Ecobank partners with CAMPOST to bring banking services closer to the non-connected population

On June 14, 2021, Cameroon Postal Services (CAMPOST) and Ecobank Cameroon signed a partnership agreement allowing access to banking services for the whole...
cemac-cameroonian-investors-contribute-xaf54-5-bln-28-9-to-gabon-s-new-2021-2016-bond-issue
Tuesday 15 June 2021Finance

CEMAC: Cameroonian investors contribute XAF54.5 bln (28.9%) to Gabon’s new 2021-2016 bond issue

At the end of its 2021-2026 bond issue operation (the sixth in the history of the country’s public finance), Gabon raised XAF188.8 billion against a...
bdeac-exceeded-budgetary-forecasts-in-2020-with-xaf9-8-bln-net-profit-administrative-board
Friday 11 June 2021Finance

BDEAC exceeded budgetary forecasts in 2020 with XAF9.8 bln net profit (Administrative Board)

Despite the coronavirus pandemic, the Development Bank of Central African States (BDEAC) recorded a XAF9.8 billion net profit in 2020. This was...
microfinance-institution-vision-finances-doubles-its-capital-to-xaf4-bln-to-fund-development-plans
Thursday 10 June 2021Finance

Microfinance institution Vision Finances doubles its capital to XAF4 bln to fund development plans

In a recently published release, microfinance institution Vision Finances SA announced that it has successfully concluded an operation aimed at doubling...
douala-town-hall-gets-closer-to-world-bank-s-xaf43-bln-funding-with-a-xaf3-2-bln-loan-from-uba-cameroon
Thursday 10 June 2021Finance

Douala town hall gets closer to World Bank’s XAF43 bln funding with a XAF3.2 bln loan from UBA Cameroon

UBA Cameroon recently granted a XAF3.2 billion loan to the Douala town hall, credible sources reveal. According to the sources, thanks to that loan, the...
cameroon-insurers-association-asac-plans-to-capitalize-on-mandatory-insurances-to-boost-sectoral-turnover
Wednesday 9 June 2021Finance

Cameroon: Insurers’ association ASAC plans to capitalize on mandatory insurances to boost sectoral turnover

In Cameroon, the new bureau of the insurers’ association ASAC intends to boost the turnover of this sector during its tenure. Indeed, in 2020, that...
axa-cameroon-s-ceo-thierry-kepeden-becomes-chairman-of-local-insurance-companies-association-asac
Monday 7 June 2021Finance

AXA Cameroon’s CEO Thierry Kepeden becomes chairman of local insurance companies’ association ASAC

Thiéry Kepeden, CEO of AXA Cameroon, is the new chairman of the Association of Insurance Companies of Cameroon (​ASAC). The CEO who started his career...
cemac-cameroon-captured-45-78-of-bank-loans-in-h2-2020-central-bank-beac-informs
Monday 7 June 2021Finance

CEMAC: Cameroon captured 45.78% of bank loans in H2-2020, central bank BEAC informs

Credit institutions operating in the CEMAC region granted XAF3,820.7 billion of financial assistance to the region’s economic operators in H2-2020, up...
cemac-financial-watchdog-cosumaf-once-again-warns-against-illegal-investment-offers
Monday 7 June 2021Finance

CEMAC: Financial watchdog COSUMAF once again warns against illegal investment offers

Faced with the upsurge of investment firms promising outstanding returns in the order of 100 to 500%, the Central African Financial Market Supervisory...
mass-transportation-operator-stecy-sa-accused-of-leasing-its-logistics-base-to-an-illegal-operator
Thursday 3 June 2021Finance

Mass transportation operator Stecy SA accused of leasing its logistics base to an illegal operator

In a release signed on May 26, 2021, and published on June 2, 2021, Cameroonian Minister of Transports, Jean Ernest Ngallé Bibehe Massena, accuses mass...
nexttel-to-launch-its-mobile-money-service-by-late-2021
Thursday 3 June 2021Finance

Nexttel to launch its mobile money service by late 2021

The launch of Nexttel’s mobile money service is one of the key priorities of new CEO Benoît Yaoussou’s tenure. Speaking to state-owned media Cameroon...
cameroon-despite-the-coronavirus-pandemic-insurers-recorded-a-steady-xaf210-bln-cumulated-turnover-in-2020
Monday 31 May 2021Finance

Cameroon: Despite the coronavirus pandemic, insurers recorded a steady XAF210 bln cumulated turnover in 2020

In 2020, the cumulated turnover in the Cameroonian insurance sector was XAF210 billion, Théophile Gérard Moulong (photo), president of the association of...
alios-finance-cameroon-mandates-attijari-securities-central-africa-to-arrange-its-second-bond-issue
Friday 28 May 2021Finance

Alios Finance Cameroon mandates Attijari Securities Central Africa to arrange its second bond issue

On May 22, 2021, financial lessor Alios Finance Cameroon officially mandated Attijari Securities Central Africa (ASCA) to arrange its second bond issue on...
cameroon-amends-the-2021-financial-law-to-allow-room-for-additional-non-concessional-loans
Thursday 27 May 2021Finance

Cameroon amends the 2021 financial law to allow room for additional non-concessional loans

Yesterday May 26, Paul Biya, President of the Republic of Cameroon, signed an ordinance that amends and supplements some of the provisions of the 2021...
enterprises-upgrading-office-and-i-p-ink-partnership-to-provide-financial-assistance-to-local-companies
Wednesday 26 May 2021Finance

Enterprises Upgrading Office and I&P ink partnership to provide financial assistance to local companies

Today May 26, in Douala, the Enterprises Upgrading Office of Cameroon (BMN) has signed a partnership agreement with investment fund I&P (Investisseurs...
foreign-exchange-regulation-beac-adamant-despite-cemac-employers-lobbying
Wednesday 26 May 2021Finance

Foreign exchange regulation: BEAC adamant despite CEMAC employers’ lobbying

Despite the Central African Employers' Union (UNIPACE)’s pleas, the Bank of Central African States (BEAC) is intent on strictly implementing the new...
cameroon-accounts-for-over-93-of-la-regionale-s-ipo-subscribers
Tuesday 25 May 2021Finance

Cameroon accounts for over 93% of ‘La Regionale’s’ IPO subscribers

Microfinance institution “La Regionale” recently published the results of its initial public offering (IPO) on the Central African Stock Exchange BVMAC....


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