World Cup 2022 : Female Trio To Referee Male Match

Cameroon: Comedian Hervé Nguetch Celebrates Birthday In Orphanage

Cameroon: Sonara and Camair Co make up 96.5% of public companies’ external debt as of Sep. 30

As of September 30, 2022, four public companies in Cameroon accumulated up to CFA555.2 billion in debt with foreign investors. According to official data from the Autonomous Depreciation Fund (CAA), 96.5% of this amount is owed by the national refinery Sonara and the airline Camair Co.

Sonara was ranked the most indebted public company. The company alone accounts for 84.5% of the total amount owed by all public companies to external partners, against only 12.5% for Camair co. The two other indebted public enterprises are the Cameroon Airports Company (ADC) and the Port Authority of Douala (PAD).

Outstanding govt securities reached CFA5,129bn at the end of October 2022 on the Beac market

The outstanding debt contracted by the CEMAC States (Cameroon, Congo, Gabon, Chad, CAR, and Equatorial Guinea) through public securities on the Beac market reached CFA5,129 billion at the end of October 2022. The figures were revealed by the bank in an official statement.

Chad calls for resumption of cement exports from Cameroon

The Chadian government is calling on Cameroonian authorities to lift the ban imposed on cement exports from their country. Djiddi Bichara Hassane, Chad’s ambassador to Cameroon, met last November 4 with Cameroon’s Minister of Trade, Luc Magloire Mbarga Atangana, in Yaoundé to discuss the matter.

MAGZI calls on local investors to exploit the Bamenda industrial zone

Christol Georges Manon, head of the Industrial Zones Development and Management Authority (MAGZI), issued a statement yesterday calling local investors, especially those from Bamenda, to exploit the industrial zone recently built in the region.

“After the industrial zone was created, 8 years ago, we were expecting local investors to be interested in it given the quality of infrastructures there. But we are surprised to see that no one is coming, although the project seemed to be welcomed in the region,” Christol Georges Manon said.

French TPF exits the Chollet dam project, another delay in sight

The Chollet dam hydroelectric project (600 MW) between Cameroon and Congo could face another delay. The French construction group TPF announced it is exiting the project. According to a decision signed by the ministers in charge of energy in Cameroon (Gaston Eloundou Essomba) and Congo (Emile Ouosso), this group wrote on September 26, 2022, to inform of its withdrawal. TPF was chosen following a restricted international tender launched on June 24, 2021, for the selection of a consulting engineer to assist the project executor.

Cameroon : INJS Provides 397 Professionals

Cameroon : Essec Extends Campus In Yaounde

Cameroon: 50 Young People Get Involved Against Violence In Schools

Sundance Resources sues govt over Mbalam Iron permit, again

Australian mining junior, Sundance Resources, has taken a new legal action against the Cameroonian government. The dispute is over the Mbalam Iron permit, which the government awarded on August 17, 2022, to Cameroon Mining Company (CMC) Sarl -a subsidiary of Singapore-based investment vehicle Coconut Logic Holdings. The latter also controls the capital of Bestway Finance.

Northwest: Menchum prefect escapes assassination attempt attributed to separatists

Adbdoulahi Aliou, the prefect of the department of Menchum (North-West region) escaped an assassination attempt. He was leaving the mosque last Friday, October 21, around 6 pm when he was attacked by gunmen suspected to be secessionist fighters.

Several local media reported that two of the gendarmes forming the prefect’s guard were wounded in the assault. Other sources mention four gendarmes wounded and one of the attackers killed. The prefect was not injured.

Election-Fecacyclisme: Deadline For Applications Submittion Announced

Former Basketball Player Dikembe Mutombo Suffers From A Brain Tumor

Cameroon-Election At Fecabox : Hassan Ndam And Ali Adamou In Ring

A new airline enters the air transport market

The Cameroonian Aviation Authority (CCAA) has just approved a new airline in the air transport sector. In an official document sent on October 12, 2022, to the Agency for the Safety of Air Navigation in Africa and Madagascar (Asecna), CCAA said it has welcomed Zejet on the market. For now, no information on the financial and transport capacities of the company has been released.

Road Accident Kills 7 on Edea-Pouma Axis

A collusion between two vehicles last saturday burnt seven passengers to death while nine others were sqaved by the eye witnesses who rushed to the accident scene. The mortal remains of the seven victims have being taken to the La Quintinine Hospital for futher identification.

BEAC Tigthens Access to Loan to Supposedly Fight Inflation

Unsurprisingly, the Central African central bank, BEAC, increased its key rates. The hike seems more like a follow-through choice than an appropriate solution to the inflationary challenges faced by CEMAC countries. The BEAC, the central bank of the six CEMAC states, recently raised its key rates that influence commercial banks’ ability to grant loans. For instance, its main refinancing rate, or TIAO, was raised from 4% to 4.5%.  Its marginal lending facility rate -for less than 24-hours bank loans- was raised from 6.25% to 6.75%.

World Bank grants Cameroon CFA200bn+ loan for local development projects

The World Bank announced it has approved a loan of $300 million (more than CFA200 billion) to help Cameroon implement local development projects. In a September 28 statement, the international body said the fund will be channeled through the International Development Association (IDA); 180 municipalities, totaling about 1.5 million people, will directly benefit from this new vehicle, which the World Bank says will help local authorities better manage resources and provide better services to the population while improving access to climate-resilient infrastructure.

Cameroon: Rising fertilizer prices slowed food crop production in Q1 2022

The growth rate of food crop production in Cameroon fell by 0.4% YoY in the first quarter of 2022, from 2.5% to 2.1%. According to the National Institute of Statistics (INS), which revealed this figure in its report on national accounts for Q1 2022, this performance “remains dependent on the availability of fertilizer, whose prices are rising sharply on the market due to the Russia-Ukraine war.” Fertilizers account for 17% of Cameroon’s imports from Russia. This makes the country Cameroon’s leading supplier with a 43% market share, compared to only 11% for China.

Cameroon customs intercepts 55kg of narcotics headed for the Philippines

Cameroonian customs at the Douala airport seized 55kg of drugs heading to the Philippines last September 22. Official sources said the narcotics were methamphetamines packed in 108 boxes.  The seizure occurred after a passenger of an Ethiopian Airlines flight presented several boxes as chocolate and African spices. A check by the airport border agents revealed the packages contained meth instead.

Football: Cameroon To Host Friendly Match Against Jamaica In Yaounde

Ladies World Volleyball Championship : Cameroon In Tragic Situation

The Lionesses once more recorded a defeat at this international competition. They were overpowered by Holland last Sunday, 3-0 (11-25, 20-25, 13-25). This second defeat of Cameroon at the Ladies World Volleyball Championship makes the country to feature at the last position of its group. Coach René Akono’s team has to put in all efforts so as to win their upcoming match against Kenya on September 27 in order to expect a qualification ticket for the next round.

Indomitable Lions Begin Intensive Training in Seoul

After a muscle warm up session yesterday, ahead of tomorrow’s friendly against Uzbekistan, the national football team will this thursday have group training with a full house to fine-tune strategies for the World Cup preparatory match in Seoul, South Korea.

service sector regained its position as a growth driver in Cameroon in 2021, after the Covid-19 episode

Economic activity in Cameroon grew by 3.6% in 2021, after a 0.3% decline in 2020 when Covid-19 was hitting hard. This recovery was, according to the stats agency INS, observed in all sectors but much more in those that were particularly affected by the pandemic, including services, such as transport, accommodation and catering, and industrial activities. In its 2021 report on national accounts, INS pointed out that “with a remarkable growth of 4.3% in 2021, compared to 0.1% in 2020,

Cameroon Gets Set For The Rugby Africa Women Cup

Matgenie’s debt widened to CFA14.24bn due to “salaries without justification”

The plan to clean up the human and material resources of the National Park of Civil Engineering Equipment (Matgenie) ordered by the Ministry of Public Works  found that the company pays “unjustified salaries” to some workers.

“The initial results, after analyzing the progress report of the ad hoc inter-ministerial committee, show that personnel costs are too expensive in the company and absorb nearly 84.5% of turnover. This is because some workers receive salaries without justification,” the Ministry said.

This situation, we learn, brings the company’s debt to CFA14.24 billion, including unpaid salaries of CFA 2.2 billion; a tax debt of CFA2.4 billion; CFA3.9 billion owed to suppliers; CFA2.6 billion of social contributions due to the National Social Security Fund, and CFA3 billion due to the Ministry of Finance. “This could eventually constitute a budgetary risk for the state if the situation persists,” according to the 2020 report of the Technical Commission for the Rehabilitation (CTR) of Public Sector Enterprises and Establishments in Cameroon. Also, social peace is threatened by irregular payment of salaries and social benefits.

Queen Elizabeth II Death : PM Joseph Ndion Ngute Represents Paul Biya in England

The Cameroonian delegation led by Prime Minister Joseph Dion Ngute arrived in London on Saturday to attend the funeral of Queen Elizabeth II.

Mandated to represent President Paul Biya at the funeral of Queen Elizabeth II in England, the Head of Government, Joseph Dion Ngute accompanied by Felix Mbayu, Minister Delegate at the Ministry of External Relations in charge of Cooperation with the Commonwealth arrived in London on Saturday.

The two Cameroonian dignitaries will attend the funeral of the late Queen Elizabeth II who died on Thursday, September 8 at Balmoral Palace in Scotland. In a letter of condolence to King Charles III, Paul Biya had paid tribute to the memory of the monarch who reigned for 70 years on the throne in the United Kingdom and in the Commonwealth countries of which Cameroon is a member.

Cameroon-Ecrans Noirs: 2022 Edition Kick-off Scheduled For October 1st

Cameroon Handball Cup Final