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…
The Ministry of Finance (Minfi) has stated the recent seizure of 3,144 war munitions by customs authorities. The seizure was part of an ongoing effort to enhance national security and prevent the illegal trafficking of weapons and ammunition. The operation was conducted by the customs department, which has been integrated into the National Defense and…
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…
The small town of Tiko, located in the South West Region of Cameroon, has marked a significant milestone in its industrial journey with the inauguration of its first tire manufacturing plant. This event, which took place on October 24, 2024, is not just a local achievement but a national triumph for Cameroon’s burgeoning industrial sector….
Cameroon takes presidency of the International Cocoa Council for 2024/2025. Cameroon has been elected to serve as President of the International Cocoa Council during the 2024/2025 term. Cameroon’s election marks a historic moment for the International Cocoa Council. The International Cocoa Council, under the leadership of Cameroon, will focus on addressing the challenges facing the…
Cameroon’s Economic Resilience: A CFA13bn Lifeline for SMEs In a significant move to bolster the economy in the aftermath of the COVID-19 pandemic, Cameroon has unveiled a new credit line worth CFA13 billion. This initiative is aimed at providing a much-needed boost to small and medium-sized enterprises (SMEs) that have been hit hard by the…
In a significant move aimed at alleviating the financial strain on local councils in Cameroon’s North-West and South-West regions; President Paul Biya has approved the cancellation of over 4 billion CFA in debt. This decision comes as a relief to the municipalities that have been heavily impacted by the ongoing Anglophone crisis, which has led…
In a significant move for its economy, Cameroon issued CFA853.3 billion in public securities in 2023, marking the largest volume in five years. This strategic financial maneuver underscores the country’s robust approach to managing public cash flow pressures and financing infrastructure projects. The issuance comprised mainly Treasury bills (BTA), short-term debt instruments with maturities of…
Back to school: CONAC warns about the monetization of places from class 6 to form 1 As students transition from primary to secondary education, the process of securing a place in the desired school can be fraught with challenges. The National Anti-Corruption Commission (Conac) has recently issued a warning about the monetization of places in…
