Dangote Refinery to Begin Exporting Petroleum to Cameroon Dangote Refinery, Africa’s largest oil refinery, announced its first-ever export of Premium Motor Spirit (PMS) to Cameroon in a landmark move for regional energy integration. This significant milestone, achieved through a strategic collaboration with Neptune Oil, marks a new era in the energy relationship between Nigeria and…
Cameroon has recently uncovered significant levels of fraud, corruption, and mismanagement within its public administration, leading to financial losses estimated at 59 billion CFA. The Ministry of Finance, led by Louis-Paul Motazé, revealed these shocking irregularities during a comprehensive cleanup operation targeting public finances. Some of the most glaring issues include: Fraudulent Birth Certificates: Investigators…
make it longer On November 24, the Cameroonian National Assembly unanimously approved a bill that authorizes President Paul Biya to ratify the Geneva Act of the Lisbon Agreement on appellations of origin (AO) and geographical indications (GI). As explained by Fuh Calistus Gentry, the interim Minister of Mines, Industry, and Technological Development, this decision represents…
Hysacam, Cameroon’s leading private waste management company, has secured a contract worth over CFA45 billion for waste management in Yaoundé. This contract was awarded by the Urban Community of Yaoundé (CUY) following an international tender launched in June 2024. Out of the four lots offered in the contract, Hysacam won three, while the tender for…
The National Anti-Corruption Commission (CONAC) has announced the arrest of six individuals in Garoua, Cameroon, on corruption charges. This announcement was made during a press conference held by the President of CONAC, Rev. Dr. Dieudonné Massi Gams, in the presence of Governor Jean Abate Edi’i. The arrests were part of a five-day anti-corruption campaign called…
In a significant move to bolster Cameroon’s IT infrastructure, the European Union has pledged a €91 million loan over the next three years. This financial support aims to enhance the West African nation’s infrastructure and attract foreign investment, marking a pivotal step in Cameroon’s development journey. The loan agreement was announced during a meeting between…
The November parliament session commenced with a strong focus on economic growth. Honourable Cavaye Yeguié Djibril, Speaker of the National Assembly, emphasized the importance of approving the 2025 State Budget, aligning it with the President’s vision for stability and public trust as the country approaches the 2025 presidential election. Key points of the session include…
Cameroon’s public debt issuances have reached a staggering CFA1.95 trillion by the end of September 2024. This debt was accumulated through the Treasury securities market of the Bank of Central African States (BEAC) and the Central African Stock Exchange (BVMAC). The National Sinking Fund (CAA), which manages the country’s public debt, reported that the majority…
Cameroon’s Public Companies’ Debt Nears CFA1 Trillion – Cameroon’s public companies are facing a significant debt burden, nearing CFA1 trillion. As of September 30, 2024, the debt contracted by the Cameroonian government and transferred to public companies reached CFA984.7 billion. This debt is distributed among eleven state-owned enterprises, including Camwater, Camtel, Sodecoton, Chantier Naval et…
Trade Minister Shuts Down Bars Amid Beer Price Increase Controversy –Since November 1, 2024, many bar owners in Cameroon have raised their prices, increasing the cost of beers and soft drinks by CFA50 to 100 FCFA. This decision has angered Luc Magloire Mbarga Atangana, Cameroon’s Minister of Commerce. His enforcement team sealed off several establishments…
