Finance Actus
- Cameroon, FAO sign $2.7mln deal to support smallholder farmers April 23, 2024Cameroon and the Food and Agriculture Organization (FAO) signed a framework agreement worth over CFA1.617 billion (about $2,731,076) to support Cameroonian smallholder farmers. The agreement was signed yesterday in Yaoundé by the Minister of Agriculture and Rural Development (Minader), Gabriel Mbairobe, and the FAO's Subregional Coordinator for Central Africa, Athman Mravili, in the presence of the […]
- Cameroon govt cracks down on rice merchants defying price regulations April 23, 2024The Ministry of Commerce has been on the hunt for merchants found guilty of not adhering to the new approved prices for rice. Official sources report that this operation has already led to the seizure of nearly 1,000 bags of rice: over 500 in the capital, Yaoundé, and over 300 in Bafoussam, the regional capital […]
- Camtel seeks legal advocates nationwide to safeguard corporate interests April 23, 2024Cameroon’s incumbent operator Camtel issued a call for applications on April 19 to recruit six lawyers and six law firms across the nation's ten regions to safeguard its interests. The announcement was made in two notices of expression of interest signed on the same day by CEO Judith Yah Sunday. "Camtel aims to acquire qualified […]
- Mayor of Bafoussam I explores Islamic Finance for local projects April 23, 2024Cyrille Ngnang, mayor of Bafoussam 1 in the West region, took part in the "Community Days of Islamic Finance-Cemac," held in Yaoundé from April 22 to 26. "We've come with four colleagues to understand how it works. The municipality has significant projects, but we lack financial resources. If Islamic finance can provide us with funds […]
- Cameroon plans debut debt buyback on BEAC securities market April 23, 2024Cameroon's Treasury is planning a debt buyback operation on the public securities market of the Central African States Bank (BEAC) in May. Sources within the Treasury's General Directorate at the Ministry of Finance reveal that the issuance size for this buyback is expected to range between CFA150 billion and CFA200 billion. The aim is to […]
- Edwin Nuvaga Fongod, The Record-Breaking Customs Revenue Collector April 23, 2024Fongod Edwin Nuvaga has been at the helm of Cameroon's customs service since December 2015, taking over from Minette Libom Li Likeng, who was appointed Minister of Posts and Telecommunications in October that year. In the 2023 fiscal year, Nuvaga and his team achieved a milestone in tax revenue collection. For the first time in […]
- SHINWINSOH BOMA DONATUS, Chief Investment Facilitator April 23, 2024In the wake of the passing of Director-General Marthe Angeline Mindja on December 29, 2023, Shinwinsoh Boma Donatus has stepped in as the interim Director-General of the Investment Promotion Agency (API). Donatus now carries the mantle of promoting Cameroon as a top-tier investment destination. His specific mandate is to enforce the 2013 law (updated in […]
- Amine Homman: An Electrician Navigating Challenges April 23, 2024Amine Homman, who assumed the leadership of Eneo in June 2023, has been facing a series of relentless challenges. Eneo, the company with a monopoly on electricity distribution in Cameroon, was already in the midst of a crisis due to the shutdown of thermal power plants run by independent producer Globeleq, a consequence of unpaid […]
- Louis BANGA-NTOLO, Head of the Unified Financial Market April 23, 2024Louis Banga-Ntolo, a seasoned Cameroonian financier formerly leading the brokerage department of Société Générale Cameroon, assumed the role of CEO at the Central African Securities Exchange (Bvmac) in October 2021. He took over from Jean Claude Ngbwa, the inaugural CEO of the sub-regional unified exchange based in Douala. His mission is clear: to invigorate this […]
- Stéphane DESCAZEAUD, The Brewer with an 80% Market Share April 23, 2024On July 1, 2022, Stéphane Descazeaud assumed the role of CEO at Société Anonyme des Boissons du Cameroun (SABC), succeeding Emmanuel de Tailly, who had held the position since December 2016. Under Descazeaud's stewardship, the company, a frontrunner in Cameroon's brewing market, further solidified its standing in 2022. This was made possible through Castel Group's […]
- Xavier Pierre Jean LEGRAND, The Cement Manufacturer on a Quest for Leadership April 23, 2024In May 2022, at the age of 48, Xavier Pierre Jean Legrand assumed leadership of Cimenteries du Cameroun (Cimencam), a subsidiary of Lafarge-Holcim Maroc Afrique (LHMA). He took over from Benoît Galichet, who had been at the helm since July 2018. A graduate of the École des Hautes Études d’Ingénieur in Lille, France, and with […]
- Vincent LEROUX, The Chief Energy Officer April 23, 2024Set to be operational by December 2024, the Nachtigal hydroelectric dam, currently under construction in Cameroon’s Central region, promises to bolster the nation’s power grid with an additional 420 MW of electricity. This monumental task is being spearheaded by Vincent Leroux, who assumed the role of CEO of Nachtigal Hydro Power Company (NHPC) in March […]