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Yaoundé - 28 November 2022 -

Finance


mufid-union-lays-plans-to-become-an-agricultural-financing-leader

MUFID Union lays plans to become an agricultural financing leader

During its ordinary general assembly meeting on October 29, 2022, MUFID Union, the association of Cameroonian financial mutuals, reviewed the actions to...
the-beac-governor-has-a-negative-view-of-cryptocurrencies
Wednesday 23 November 2022Finance

The Beac governor has a negative view of cryptocurrencies

The governor of the Bank of Central African States (Beac) still has a negative view of cryptocurrencies despite their popularity in the community. During...
cemac-symposium-suggests-deep-reform-of-the-cfa-franc
Tuesday 22 November 2022Finance

CEMAC: Symposium suggests "deep" reform of the CFA Franc

The CFA Franc reform being demanded since 2019 concerns the current mechanisms for monetary cooperation with France.   Last November 17-18, a...
cameroon-afriland-first-bank-enters-partnership-with-bmn
Thursday 17 November 2022Finance

Cameroon: Afriland First Bank enters partnership with BMN

Afriland First Bank Cameroon is signing today November 17 in Yaoundé a partnership with the Enterprise Upgrading Office (BMN) under the National Program...
cameroon-seeks-20-bln-on-the-beac-public-securities-market
Wednesday 16 November 2022Finance

Cameroon seeks 20 bln on the Beac public securities market

Cameroon issued yesterday 6-year fungible Treasury bonds (OTA) to raise CFA20 billion on the Beac public security market. To attract investors, the...
danpullo-fnb-court-approves-seizure-of-xaf243-bln-south-african-assets-in-response-to-judicial-liquidation-proceedings
Tuesday 15 November 2022Finance

Danpullo-FNB: Court approves seizure of XAF243 bln South African assets in response to judicial liquidation proceedings

Over the past few years, South African bank FNB has seized and auctioned some of the Cameroonian business mogul Baba Danpullo’s properties in South...
outstanding-govt-securities-reached-cfa5-129bn-at-the-end-of-october-2022-on-the-beac-market
Monday 14 November 2022Finance

Outstanding govt securities reached CFA5,129bn at the end of October 2022 on the Beac market

The outstanding debt contracted by the CEMAC States (Cameroon, Congo, Gabon, Chad, CAR, and Equatorial Guinea) through public securities on the Beac...
euro-down-19-against-us-dollar-cameroon-s-debt-up-cfa573bn
Thursday 10 November 2022Finance

Euro down 19% against US dollar, Cameroon’s debt up CFA573bn

Between September 2021 and September 2022, the Euro lost 19% of its value against the US dollar. Richard Evina Obam, the Director General of the...
beac-to-reveal-new-banknotes-at-the-50th-anniversary-celebrations-in-chad
Tuesday 8 November 2022Finance

Beac to reveal new banknotes at the 50th-anniversary celebrations in Chad

The Bank of Central African States (Beac) announced yesterday the celebration of its fiftieth anniversary. During this ceremony, which will take place...
gabonese-reinsurer-scg-re-woos-cameroonian-investors
Monday 7 November 2022Finance

Gabonese reinsurer SCG-Ré woos Cameroonian investors

Gabonese reinsurer Commercial Reinsurance Company (SCG-Ré) sent a delegation last November 4 to Cameroon as part of its IPO on the Douala-based regional...
cameroonian-female-entrepreneur-jacqueline-dongmo-raised-cfa50bn-to-launch-business
Monday 7 November 2022Finance

Cameroonian female entrepreneur Jacqueline Dongmo raised CFA50bn to launch business

Jacqueline Dongmo, a Cameroonian entrepreneur and founder of Coca-Cola Gracedom Bottling Company, successfully raised CFA50 billion to launch her...
cameroon-src-to-recover-cfa34bln-in-bad-debt-from-ubc
Monday 31 October 2022Finance

Cameroon: SRC to recover CFA34bln in bad debt from UBC

Cameroon’s debt recovery company SRC announced it is implementing a strategy to recover CFA33.999 billion in bad debts from the Union bank of Cameroon...
strong-dynamic-on-public-securities-market-to-boost-financial-activities-in-cameroon-in-q4-2022-beac
Monday 31 October 2022Finance

Strong dynamic on public securities market to boost financial activities in Cameroon in Q4 2022 (Beac)

Financial activities in Cameroon are expected to improve significantly in the last three months of 2022. According to Beac’s business cycle forecast, this...
prudential-plc-supporting-a-just-and-inclusive-transition
Thursday 27 October 2022Finance

Prudential plc: Supporting a just and inclusive transition

Prudential plc (Prudential) has today launched a white paper to outline the case for a just and inclusive transition, and its place in meeting the Paris...
insurer-sl-financial-to-enter-cameroon
Tuesday 25 October 2022Finance

Insurer SL Financial to enter Cameroon

Insurance company SL Financial, founded in the U.S. by Cameroonian Achille Sime (pictured, middle), announced it is opening a subsidiary in Douala,...
four-cameroonian-banks-led-the-cemac-credit-market-in-q1-2022
Thursday 13 October 2022Finance

Four Cameroonian banks led the Cemac credit market in Q1 2022

Four Cameroonian banks dominated the banking credit market in the Cemac region over the first quarter of 2022. Afriland First Bank, SCB Cameroon, Société...
cameroonian-smes-paid-more-in-loan-interests-in-q1-2022-qoq
Monday 10 October 2022Finance

Cameroonian SMEs paid more in loan interests in Q1 2022 QoQ

SMEs in Cameroon paid 35 basis points more in interest on bank loans in Q1 2022 than in Q4 2021. The rate rose from 12.54% to 12.89% over the...
cemac-beac-tigthens-access-to-loan-to-supposedly-fight-inflation
Friday 7 October 2022Finance

CEMAC : BEAC tigthens access to loan to supposedly fight inflation

Unsurprisingly, the Central African central bank, BEAC, increased its key rates. The hike seems more like a follow-through choice than an appropriate...
cameroon-plans-to-raise-cfa155bn-on-the-beac-public-securities-market-in-q4-2022
Thursday 6 October 2022Finance

Cameroon plans to raise CFA155bn on the Beac public securities market in Q4 2022

The Cameroonian treasury is planning to raise CFA155 billion on the Beac public securities market over the fourth quarter of this year. According to the...
cameroon-banking-and-communication-activities-supported-service-sector-improvement-in-q1-2022
Monday 3 October 2022Finance

Cameroon: Banking and Communication activities supported service sector improvement in Q1 2022

The service sector in Cameroon performed well during the first three months of 2022, according to the National Institute of Statistics (INS). The...
cameroon-financial-partners-support-local-smes-with-cfa14bn
Thursday 29 September 2022Finance

Cameroon: Financial partners support local SMEs with CFA14bn

The Cameroonian Minister of Economy, Alamine Ousmane Mey, signed a partnership agreement last September 27, 2022, with the UNDP Resident Representative in...
cameroon-afdb-to-boost-investments-in-the-private-sector
Wednesday 28 September 2022Finance

Cameroon: AfDB to boost investments in the private sector

The AfDB Director for Central Africa, Serge Nguessan (pictured), met with actors of the Cameroonian private sector last September 26 in Douala, the...
beac-raises-key-rates-again-in-an-attempt-to-curb-inflation
Tuesday 27 September 2022Finance

BEAC raises key rates again in an attempt to curb inflation

Following the 3rd 2022 meeting of its Monetary Policy Committee (MPC) held yesterday in Yaoundé, the Bank of Central African States Beac announced it has...
gabonese-and-chadians-outperform-cameroonians-on-the-beac-market
Thursday 22 September 2022Finance

Gabonese, and Chadians outperform Cameroonians on the Beac market

The Securities Settlement and Custody Unit (CRCT) of Beac reported that Cameroonian individuals are less dynamic in the Beac public securities market than...
bvmac-among-the-last-stock-exchanges-in-terms-of-market-value-in-africa
Friday 16 September 2022Finance

BVMAC among the last stock exchanges in terms of market value in Africa

The Central African Securities Market BVMAC revealed it is one of the last stock exchanges in terms of market value in Africa. "The top group includes...
cameroon-plans-to-raise-cfa100bn-on-beac-public-securities-market-by-end-october
Wednesday 14 September 2022Finance

Cameroon plans to raise CFA100bn on Beac public securities market by end October

The Cameroonian Treasury is getting ready to raise CFA100 billion on the Beac public securities market by the end of October 2022. The initiative, we...
sodecoton-hit-cfa8-4bln-in-net-profit-in-2021-22-after-cfa4-7bln-in-net-loss-a-year-ago
Wednesday 31 August 2022Finance

Sodecoton hit CFA8.4bln in net profit in 2021-22, after CFA4.7bln in net loss a year ago

Cameroon’s cotton development corporation (Sodecoton) posted a net benefit of CFA8.47 billion during the 2021-22 campaign, after a negative result of...
beac-public-securities-market-witnessed-slight-drop-in-july-2022-crct
Tuesday 23 August 2022Finance

Beac public securities market witnessed slight drop in July 2022 (CRCT)

Activities on the Beac public securities market dropped significantly in July 2022 compared to the previous month, according to a note recently published...
bvmac-plans-to-increase-capital-three-years-after-the-cemac-market-unification
Friday 29 July 2022Finance

Bvmac plans to increase capital, three years after the Cemac market unification

The Cemac stock exchange, Bvmac, announced plans to increase its share capital currently at CFA6.8 billion. This decision comes three years after the...
beac-to-oversee-car-s-cryptocurrency-project
Friday 22 July 2022Finance

Beac to oversee CAR's cryptocurrency project

The Bank of Central African States (Beac) will oversee the cryptocurrency adoption project ongoing in the Central African Republic. The decision was taken...
cameroon-rise-in-us-dollar-inflates-external-debt-service-for-july-by-cfa3bn
Thursday 21 July 2022Finance

Cameroon: Rise in US Dollar inflates external debt service for July by CFA3bn

The rise in the US dollar will make Cameroon pay an extra CFA3 billion in external debt service for July 2022. The Minister of Finance’s Treasury...


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