In a devastating incident, a violent fire outbreak ravaged the Dakar market in Douala, Cameroon’s economic capital, leaving traders and residents in deep distress. The fire, which occurred during the night of December 19, 2024, reduced several shops to ashes and caused significant economic losses. The Incident The fire broke out in the Dakar market,…
The BILLIONAIRE has put a little over 1,000 million into play for the transformation of clay and KAOLIN into construction materials in order to limit imports that are causing the country to lose foreign currency After Green Oil and real estate including its United brand hotels, Guillaume Mbakam is investing in mining and wants to…
Cameroon has seen a remarkable surge in coffee export value to France The coffee industry in Cameroon has seen a remarkable surge in its export value to France, with a fourfold increase for three years. This growth is a testament to the quality and competitiveness of Cameroonian robusta coffee on the international market. In 2023,…
Cameroon Boosts Cigar Exports to Nigeria, Reaching 3.1 Billion FCFA in 2023 In 2023, Cameroon’s trade with Nigeria saw a notable entry in its export catalogue: cigars. While not the dominant product in the trade portfolio, cigars represented a significant 8% of the total sales to Nigeria, contributing to the CFA39.5 billion worth of goods…
Socapalm Increases Dividends to CFA1.8bn for FY2023, Up 20% In a significant financial move, Socapalm, Cameroon’s leading palm oil corporation, has announced an increase in dividends for the fiscal year 2023. The company has declared a distribution of CFA1.8 billion to its shareholders, marking a substantial 20% increase from the previous year’s dividends. This decision…
Unveiling the Circle: The Beneficiaries of Glencore’s 7 Billion Linked to Biya’s Associates After several months of thorough investigations and pressure on the officials of Glencore, they have finally decided to release the names of the individuals to whom they paid billions in the context of the exploitation of Cameroonian oil. According to the Cameroonian…
Cameroon’s 2024 Oil Revenue Target in Jeopardy Cameroon’s ambitious goal to collect CFA 801.6 billion in oil revenues by the end of December 2024 is facing significant challenges. The nation’s oil revenue figures for the first quarter of 2024 have only achieved 82.7% of the initial government target, a shortfall that raises concerns about the…
The World Bank’s Innovative One-Stop Shop Model for Cameroon: A Leap Towards Streamlined Public Procurement In a significant move to bolster economic growth and enhance the efficiency of public procurement, the World Bank has recommended the establishment of a one-stop shop in Cameroon. This recommendation comes as part of a broader overhaul aimed at simplifying…
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…
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…
