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  • CEMAC Banks Snub BEAC's First Refinancing Offer in Over a Year June 14, 2024
    Banks across the Central African Economic and Monetary Community (CEMAC) have shown limited interest in the central bank's (BEAC) recent liquidity injection offer, marking its first since February 2023. On June 11, 2024, BEAC proposed a CFA 120 billion refinancing package, yet banks only requested and received CFA 55 billion, indicating a modest 45.8% subscription […]
  • Apesa Fund Placed in Liquidation, Valentine Ojong Oben Appointed Liquidator June 14, 2024
    In financial trouble for several years, the second-tier microfinance institution Apesa Fund (African Private Equity and Savings) has been placed in liquidation. Valentine Ojong Oben has been appointed as the banking liquidator. This information was announced in a statement by the liquidator on June 13, 2024, citing two decisions from the Central African Banking Commission […]
  • Cameroon's Leading Brewer SABC Plants Trees to Combat Desertification June 14, 2024
    To mark the 52nd World Environment Day themed "Land Restoration, Desertification, and Drought Resilience," the Société Anonyme des Boissons du Cameroun (SABC), the country's leading brewer, participated in planting 4,000 trees near Garoua Airport, the regional capital of the North. SABC contributed 1,000 trees to help curb the desert's advance threatening the Far North and […]
  • French Firm I-Tek Eyes CFA 5bn Pig Farm Project in Cameroon June 14, 2024
    French company I-Tek has expressed interest in constructing and commissioning 500 pig farms in Cameroon. This announcement was made during a ceremony advocating for the development of pig farming, held on June 11, 2024, at the Chamber of Agriculture, Fisheries, Livestock, and Forests of Cameroon (Capef) in Yaoundé. I-Tek, established in 1992, is known for […]
  • Cameroon Seeks CFA186bn to Fund Malaria Control Plan June 13, 2024
    Cameroon is facing a significant challenge in funding its 6th National Strategic Plan for Malaria Control for 2024-2028. According to the Ministry of Public Health, FCFA 336.95 billion is needed for the planned interventions. By April 2024, only FCFA 149.98 billion had been raised, leaving a financial shortfall of more than FCFA 186 billion, or […]
  • Gabon Relies on Cameroonian Firms for CFA200bn Bond Issuance June 13, 2024
    Gabon has chosen 17 brokerage firms to raise CFA200 billion from investors in the CEMAC region for its "EOG MULTI-TRANCHES 2024-2030" bond issuance launched on May 27. 14 of these firms are from Cameroon. Leading the operation are two Cameroonian firms based in Douala and helmed by young Cameroonians. Building Emerging Markets Securities (BEM Securities), […]
  • Cameroon's CDEC MD Threatens Banks Over Missed Fund Transfer Deadline June 13, 2024
    Richard Evina Obam, Director General of the Deposits and Consignments Fund (CDEC), has announced forced collection measures against credit institutions that missed the legal deadline to transfer designated funds and assets to the CDEC. This decision aims to ensure strict adherence to the law of April 14, 2008, governing deposits and consignments, and the Prime […]
  • Cameroon's Kribi and Douala Ports Criticize World Bank, S&P Rankings June 13, 2024
    The ports of Kribi and Douala have criticized their low rankings in the 2023 Container Port Performance Index (CPPI) published by the World Bank and S&P Global Market Intelligence. The report ranks 405 ports worldwide based on efficiency, measured mainly by the duration of vessel stays. Kribi and Douala placed 366th and 373rd globally and […]
  • Cameroon and France Sign Agreement for Second Phase of Regional Capitals Program June 12, 2024
    Cameroon and France signed a convention on Wednesday for the second phase of the "C2D Regional Capitals 1" (CR1) program in Yaoundé. This phase will receive funding of €20 million (CFA 13 billion) and aims to enhance urban infrastructure and improve living conditions in the cities of Bafoussam (West), Bertoua (East), and Garoua (North). "The program […]
  • BEAC Resumes Liquidity Injections After Over a Year June 12, 2024
    The Bank of Central African States (BEAC) has resumed liquidity injections into banks in the Economic and Monetary Community of Central Africa (Cemac), marking the first such operation since February 2023. The BEAC injected CFA 120 billion, per a statement released on June 11. As a reminder, the bank has decided to suspend injections as […]
  • Gulfin Targets Cameroon’s Public Sector with New Fuel Voucher Service June 12, 2024
    Oil product distributor Gulfin, a subsidiary of Gulfcam SAS, officially launched its fuel voucher service in Douala, Cameroon's economic capital. This service, announced on June 11, 2024, aims to help customers manage their fuel expenses more efficiently, according to company executives. Gulfin's entry into the fuel voucher market intensifies the already fierce competition among petroleum […]
  • Eneo Signs Deal to Double Solar Power Capacity in Maroua and Guider June 11, 2024
    Cameroon’s power utility Eneo has inked a deal with Release, a subsidiary of Norwegian firm Scatec, on June 5, 2024, to expand the photovoltaic solar plants in Maroua, in the Extreme North region, and Guider, in the North. According to documents seen by Business in Cameroon, the agreement aims to increase the production capacities of […]