Africa
Togolese Ceco SA Secures 37.1 Billion Deal to Construct Southern Cameroon Road
Togolese Ceco SA Secures 37.1 Billion Deal to Construct Southern Cameroon Road Cameroon’s Infrastructure Development: A Road to Progress In a significant move to bolster its infrastructure, the Cameroonian government has embarked on a substantial project to construct a new road in the southern region of the country. This initiative, with a budget of 37.1…
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Major Financial Move: CNPS Obtains 150 Billion CFA Loan from Afreximbank
Major Financial Move: CNPS Obtains 150 Billion CFA Loan from Afreximbank Cameroon’s National Social Insurance Fund (Cnps) is reportedly in negotiations for a substantial loan with the African Export-Import Bank (Afreximbank). The sum involved is said to be 150 billion CFA francs, a significant amount that indicates a major financial move for the institution. This…
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CEMAC Bank Lending Jumps 7% Despite Central Bank Tightening
CEMAC Bank Lending Jumps 7% Despite Central Bank Tightening CEMAC bank lending defied expectations, rising 7% year-on-year to CFA10,586 billion in the first quarter (Q1) of 2024. This comes against the backdrop of a tightening monetary policy stance by the central bank, BEAC. The increase suggests a continued demand for credit from businesses and consumers…
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The Zina-Makary oil project in Far North Cameroon has been at a standstill for 15 years
The Zina-Makary oil project in Far North Cameroon has been at a standstill for 15 years a situation that reflects the complex interplay of geopolitics, economics, and security concerns in the region. The project, which was initiated with the signing of a production-sharing contract between the Cameroonian government and the Chinese company Yan Chang Logone…
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Cameroon Allocates 2 Billion CFA Francs for Long-Awaited Edéa-Kribi Road Rehabilitation Study
Cameroon Allocates 2 Billion CFA Francs for Long-Awaited Edéa-Kribi Road Rehabilitation Study Cameroon’s Road Infrastructure: A Path to Development Cameroon’s commitment to enhancing its road infrastructure is evident in the recent announcement of nearly 2 billion CFA francs allocated for updating studies related to the rehabilitation of the Edéa-Kribi road. This project, which was announced…
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Sonara Awards 7 Billion CFA Contract to DSC Marine SA in Historic Deal
Sonara Awards 7 Billion CFA Contract to DSC Marine SA in Historic Deal DSC Marine SA, a Cameroonian company established in 2015, has recently secured a significant contract with Sonara, the national oil refinery of Cameroon. This 7 billion contract marks a substantial achievement for DSC Marine SA, reflecting the company’s growth and its increasing…
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Forgery Scandal Hits BEAC: Ebibeyin Agency at the Epicenter of Counterfeit Controversy 2024.
Forgery Scandal Hits BEAC: Ebibeyin Agency at the Epicenter of Counterfeit Controversy 2024 The Central African Economic and Monetary Community (CEMAC) has been shaken by a scandal involving the BEAC agency in Ebibeyin, Equatorial Guinea. A counterfeit banknote operation has been uncovered, implicating several high-ranking officials, including the Commissioner of Ebibeyin and the head of…
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Ngaoundéré’s Inflation Confirmed as Cameroon’s Most Expensive City Amid Rising Inflation
Ngaoundéré’s Inflation Confirmed as Cameroon’s Most Expensive City Amid Rising Inflation Ngaoundéré, the bustling capital of Cameroon’s Adamawa region, has been ranked as the most expensive city in the country for the third consecutive year, with an inflation rate nearing 8%. This persistent rise in the cost of living has outpaced the national average, placing…
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Chad-Cameroon Pipeline: New Route for Niger’s Oil Exports to China
Chad-Cameroon Pipeline: New Route for Niger’s Oil Exports to China The Geopolitics of Hydrocarbons: Niger’s Pivot to the Chad-Cameroon Pipeline In the intricate tapestry of global energy politics, the recent developments involving Niger’s decision to reroute its crude oil exports through the Chad-Cameroon pipeline to reach the Chinese market is a narrative of resilience, strategic…
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Glencore says it bribed SNH and Sonara with CFA 7billion
Glencore says it bribed SNH and Sonara with CFA 7billion (Business in Cameroon) – The U.S. Department of Justice and the UK Serious Fraud Office announced last May 24 that the Anglo-Swiss multinational Glencore pleaded guilty to bribes in several countries, including Cameroon. “Between approximately 2007 and 2018, Glencore and its subsidiaries caused approximately $79.6 million…
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