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Yaoundé - 29 March 2024 -

The Cameroonian Minister of Finance announced that the government is going back to the public securities market of the CEMAC States Central Bank on 7 June 2017, to raise a global envelope of FCfa 5 billion. This new operation will be done through the issuance of fungible Treasury bonds (BTA in French) with a maturity of 26 weeks.

Cameroon’s BTA will be in competition with those of Gabonese and Chadian public Treasuries, who will also undertake fundraising operations on the same day on the same market. Gabon, through the issuance of BTA with a maturity of 13 weeks, will try to raise FCfa 9 billion, according to an official press release from BEAC.

The Republic of Chad, for its part, will try to raise a global envelope of FCfa 25 to 30 billion, through the issuance of Treasury bonds (OTA) with a maturity of 2 years. For this operation, the Chadian government will offer an interest rate of 4.5% to buyers.

According to the statistics of BEAC, since the launch of the public securities market in November 2011, the CEMAC States have already raised close to FCfa 4,000 billion. This securities market has become more dynamic since 2015, with the treasury difficulties that the six CEMAC States are facing, due to the drop in the international prices for crude oil, which is the main source of revenues for at least four (Gabon, Chad, Congo, Equatorial Guinea) of the six countries in this community.

Brice R. Mbodiam

Published in Finance

Louis Paul Motaze, Minister in charge of the Economy (MINEPAT), proceeded, on 31 May 2017 in Yaoundé, with the signature of exchange of notes which seals the mobilisation of FCfa 32.9 billion, from the government of Japan for the development of the Yaoundé-Brazzaville corridor (section Mintom-Lelé, with a length of 67 Km).

Through this concessional loan, indicated the MINEPAT, Japan wishes to show its desire to actively contribute to the socio-economic development of Cameroon. Especially since the project was on hold, awaiting additional funding to start the second phase which comes to complete the construction of this corridor, whose first part was handed over at the beginning of 2017. For a total amount of 104.7 billion, the co-financing of the African Development Bank (FCfa 40.7 billion) in this project, was raised on 15 April 2016. That of the Development Bank of Central African States (20 billion) was on 22 December 2016. As well as that of Cameroon (13.9 billion).

"Above and beyond the fact that the said corridor will encourage trade between Cameroon and Congo, it should be highlighted that it will equally contribute to facilitating economic integration in CEMAC and to the economic development of Cameroon", declared Louis Paul Motaze. Who added that, this trunk road would improve projects already underway in agriculture and environmental sectors among others, and produce a synergetic effect in promoting rice production and sustainable development in the sub-region.

Sylvain Andzongo

Published in Transport

The International Monetary Fund (IMF), in its report on “Regional Economic Outlook for Sub-Saharan Africa” published this month of May 2017, notes that many countries, in 2016, suffered from the sharp fall in commodity prices.

“This is particularly the case for countries exporting commodities, particularly oil exporting countries, such as Angola, Nigeria and the countries in the Central African Economic and Monetary Community (CEMAC)”, indicates the IMF. According to this report, the delays observed in the execution of necessary adjustments lead to an increase in the public debt, create uncertainty, restrict investments and could possibly generate even more important problems in the future.

“For the most affected countries, it is still urgent to clean up the public finance sector to put an end to the decrease in foreign exchange reserves and offset losses in budget revenues, especially in the CEMAC countries”, repeats the IMF. The insistence of this global financial institution is in direct line with the alarm raised in April by Kadima Kalondji, Resident Representative of the IMF in Cameroon.

In 2010, while visiting Libreville in the framework of a seminar addressed to media professionals in the sub-region, Kadima Kalondji assured that the community’s foreign exchange reserves were FCfa 6,000 billion. But these reserves have since dropped to FCfa 2,000 billion, therefore an erosion of FCfa 4,000 billion in 2016.

The Representative of the IMF then pointed an accusing finger at the fall in revenues and oil exports as well as the explosion in public investment expenditure in a difficult and unfavourable financial environment for oil-based economies.

S.A

Published in Finance

The Inter-State Committee on Pesticides in Central Africa just accredited, during a session held on 9 May, five new pesticides, thereby authorising their use in the six CEMAC States which are Cameroon, Gabon, Congo, Equatorial Guinea, Chad and CAR.

The phytosanitary products thus approved are Agreb 80 wp (fungicide), Boxer 10 wp (insecticide), Glycol 41% sl (herbicide), Glycol 680 wdg (herbicide), Super Killer 680 wdg (herbicide), Super 50 ec (insecticide) and Super 12 ec (insecticide).

These products were approved out of a list of 12 biochemical products presented by several companies. These accreditations come at a time when CEMAC States are denouncing the movement on their territories of many products harmful to agricultural activities.

BRM

Published in Agriculture

The General Secretary of the Economic Community of Central African States (CEEAC), Ahmad Allam-Mi and the Managing Director of the International Bantus Civilisations Centre (CICIBA) Antoine Manda Tchebwa signed on 10 May in Libreville, an agreement setting the terms of the cooperation between their two institutions.

“This document formalises our commitment to carry out joint and common actions to turn culture into a tool for development and a medium for peace in our respective communities. Particularly in the fields of support for cultural operators, creation and densification of cultural areas”, declared Ahmad Allam-Mi.

For Antoine Manda Tchebwa, signing this agreement marks the actual revival of activities of the International Bantus Civilisations Centre which went through long years of dormancy. The MD of CICIBA applauded the determination that the General Secretary of CEEAC showed in pushing through this promise made a year ago to fruition.

S.A

Published in Culture

Led by its representative, Félix Loïteohin Ye, a delegation of the UNESCO Multisectoral Regional Office for Central Africa met with the Secretary General of the Economic Community of Central African States (Communauté économique des États de l’Afrique centrale - CEEAC), Ahmad Allam-Mi, on 9 May in Libreville, Gabon. The two parties reviewed their cooperation on the project "universities centres of technological excellence" (pôles d’excellence technologiques universitaires - PETU). Indeed, the PETU project, whose objective is to reorganise the university education systems in CEEAC member countries, to create great and competitive centres of training and research, capable of rolling out multidisciplinary teams of specialists in innovative educational projects, is experiencing some difficulties at the moment in its implementation. It is even in a vegetative state. The UNESCO Representative said he was prepared to work with CEEAC in order to catch up, if possible, with the failures and delays in the implementation of the PETU project.

Ahmad Allam-Mi, for his part, deplores the technical difficulties that occurred during implementation. He did, however mention the steps that will be undertaken to not leave the dossier in its present state, notably the dispatch in the shortest possible time of correspondence to the African Development Bank (AfDB) explaining these difficulties and requesting renewed effort in this important project for Central Africa.

S.A

Published in Education

Yaoundé, the Cameroonian capital hosted from 4 to 5 May 2017 the 17th ordinary session of the Defence and Security Committee (CDS) of the Central African Peace and Security Council (COPAX), under the chairmanship of army General Auguste Roger Bibaye Itandas, Gabonese Chief of Defence Staff, current President of CDS.

Regarding the common operation project of the Central African Multinational Force (FOMAC), the members of the Defence Committee recommended to the General Secretariat of the Economic Community of Central African States (CEEAC) to organise as soon as possible home consultations to know the hosting State(s). They encouraged the enlistment of civilians in FOMAC’s reserves in the member States. Regarding the feasibility of the regional logistics warehouse, it was decided that said warehouse would share the location of the Continental Logistics Base (BLC) in Douala, Cameroon.

Moreover, CDS recommended that the General Secretariat of CEEAC organise a Council of COPAX ministers to initiate the actions scheduled in the Kinshasa Agreement which plans in particular the establishment of national light firearms monitoring committees, the creation of a weaponry monitoring unit within the General Secretariat and the fundraising of adequate financial resources. Finally, it was convened that the next CDS session would take place in Kinshasa, Democratic Republic of Congo, in July 2017.

S.A

Published in Security

The Cameroonian Public Treasury proceeded, on 3 May at the headquarters of the Bank of Central African States (Banque des Etats de l’Afrique Centrale - BEAC) in Yaoundé, with a new issuance of fungible Treasury bills with a 26-week maturity, for a total amount of FCfa 5 billion, we learned officially.

In the 2nd quarter 2017, through these operations issuing public securities, the government of Cameroon aims to raise an overall envelope ranging between FCfa 60 and 70 billion on the BEAC market. Throughout the 2017 fiscal year, FCfa 300 billion is planned in all, through the issuance of government securities on capital markets.

BRM

Published in Public management

Between the months of April and June 2017, the Cameroonian Public Treasury plans to raise an overall envelope of around FCfa 60 and 70 billion through the issuance of public securities in the market of the Bank of Central African States (BEAC).

According to the official timetable of operations provided to BEAC by the Ministry of Finance, nine issuances of Treasury Bills (BTA) are planned, every three months, for a total amount of FCfa 45 billion. Two issuances of state bonds (Obligations du Trésor assimilables - OTA) for amounts respectively between FCfa 5 and 10 billion, then FCfa 10 and 15 billion are also expected in May and June 2017, with corresponding maturity dates of 2 and 3 years.

The first Cameroonian government operation in the BEAC securities market for the 2nd quarter 2017, took place last April 12, through the issuance of Treasury Bills for an amount of FCfa 5 billion, with a 26-week maturity term. For the month of April alone, the Cameroonian Public Treasury aims to raise FCfa 15 billion.

According to a decree signed last 1 February, presidential text which authorises the Minister of Finances to proceed with operations to raise funds for the State of Cameroon, the government intends to issue public securities for a maximum amount of FCfa 300 billion during the 2017 fiscal period.

Launched in 2011, the public securities market of the BEAC has already enabled 6 CEMAC member-States (Cameroon, Congo, Gabon, Chad, CAR, and Equatorial Guinea) to raise almost FCfa 4,000 billion, according to statistics compiled by this central bank. Up until last January, only five states were operating in this market, as Congo only carried out its first operation in February 2017.

Brice R. Mbodiam

Published in Public management

The 5th session of the National Steering Committee (CPN) of the “Central African Optic Fibre Backbone” project (CAB) was held on 5 April in Yaoundé, under the effective chairmanship of the Minister of Posts and Telecommunication, Minette Libom Li Likeng, President of said Committee and her Vicd-President, Issa Tchiroma Bakary, Minister of Communication.

On the agenda, the review of the implementation of the project's activities since the previous session of the Committee held in September 2016. Among the actions achieved during that session, was the four-year programme (2016-2019) of the CAB project which benefited globally from over FCfa 30 billion in financing from the Africa Development Bank (AfDB). The members of CPN also reviewed and adopted the action plan and budget for 2017. A budget of roughly FCfa 4 billion.

The CAB project came from the commitment of the Central African Heads of State who, during the CEMAC Summit held in Ndjamena in May 2007, adopted a common declaration calling for the implementation of a Central African broadband network, consistent with the regional integration strategy. This is about, among other things, promoting public-private partnership (PPP) and developing wholesale markets (network operators).

This declaration by the Heads of State was guided by the absence of broadband network in every Central African country, with the effect of the high cost of telecommunication/ICT services on the business environment in the sub-region.

S.A

Published in ICT
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