Finance Actus
- Cameroon Sees 2% Drop in Extractive Industry Production Costs in Q1 2024 July 26, 2024Production costs in Cameroon's extractive sector fell by nearly 2% from January to March 2024, continuing a trend from early 2023 after several months of increases in 2022. The Industrial Producer Price Index (IPPI) from the National Institute of Statistics (INS) showed a 1.9% decrease in factory gate prices, notably in hydrocarbons. The INS report […]
- Cameroon Signs Financing Deals for CFA429.9bn in H1 2024 July 26, 2024In the first half of 2024, Cameroon signed seven financing agreements totaling CFA429.9 billion, according to the latest monthly debt report published on July 19 by the national sinking fund (CAA). During the second quarter of 2024, the Cameroonian government secured three financing agreements worth CFA189.2 billion. With a nominal commitment ceiling set at CFA950 […]
- CEMAC Banks Rush for BEAC’s CFA185 Billion Liquidity Offer July 26, 2024The Bank of Central African States (BEAC) issued a CFA185 billion liquidity offer on July 23, which credit institutions oversubscribed by 267%. This means that while the BEAC's offer targeted CFA185 billion in liquidity, banks collectively expressed a need for CFA494.7 billion. The day before, on July 22, a BEAC bond issuance targeting CFA50 billion […]
- Cameroon and South Africa Finalize Landmark Air Transport Agreement July 26, 2024On July 24, President Paul Biya ratified a bilateral air transport agreement between Cameroon and South Africa. Initially signed in Cape Town on July 14, 2011, the agreement aims to enhance relations between the two countries by streamlining air operations and boosting trade. Under the terms of the agreement, each country is granted the right […]
- Cameroon Earns CFA174.2bn from Oil and Gas in Four Months July 25, 2024Between January and April 2024, Cameroon’s public treasury received CFA174.2 billion from the sale of oil and natural gas. This information comes from a statement following the board meeting of the National Hydrocarbons Corporation (SNH) held on July 24, 2024, in Yaoundé. During the same period, the SNH reported paying more than CFA25 billion in […]
- Douala Seeks Contractors to Boost City Parking Revenues July 25, 2024Douala, Cameroon’s economic capital, is looking for local contractors to manage part of its public parking system. This move, announced in a call for applications by Mayor Roger Mbassa Ndine on July 18, 2024, aims to delegate the management of non-reserved parking areas through affermage contracts. These contracts allow a contractor to manage a public […]
- World Bank to Invest $2bn in Cameroon Over Five Years July 25, 2024The World Bank Group announced on July 23 its commitment to a new Country Partnership Framework (CPF) with Cameroon, covering 2025 to 2029. This strategic partnership aims to support Cameroon's "Vision 2035," which aspires to transform the nation into "an emerging, democratic, and united country in its diversity." As part of this effort, the financial […]
- Cameroon Raises Over CFA332bn in International Bond Sale at 10.75% July 25, 2024As expected by the ordinance amending its 2024 finance law, signed on June 20, 2024, the State of Cameroon issued bonds on the international capital market on July 23. According to sources at the Ministry of Finance, this was a private placement with Citigroup Global Markets Ltd as the sole placement agent. This financial group, […]
- Cameroon Repays Over CFA741bn in Debt in H1 2024 July 25, 2024Between January and June 2024, Cameroon's public treasury repaid debts totaling CFA741.6 billion, according to data from the national sinking fund (CAA). This figure excludes VAT credit refunds to businesses, floating debt, and outstanding invoices at the treasury. The CAA noted that these repayments only represent 44.9% of the CFA1,651.3 billion debt service planned in […]
- Cameroon: Metallurgy Costs Rise for First Time in a Year July 24, 2024Factory prices in Cameroon’s metallurgy and steel manufacturing industry rose by 0.3% in the first quarter of 2024 compared to the same period in 2023. This increase is highlighted in the Industrial Producer Price Index (IPPI) recently published by the National Institute of Statistics (INS). “This rise, although modest, contrasts with the series of declines […]
- Nachtigal Dam to Boost Power Supply in August with 120 MW Injection July 24, 2024In early August 2024, NHPC, the joint venture overseeing the construction of the 420 MW Nachtigal Dam in central Cameroon, will inject 120 MW into the southern interconnected grid, serving seven of the country’s ten regions. Following the first unit's continuous delivery of 60 MW since June 10, 2024, the second unit of equal capacity […]
- Cameroon Public Debt Climbs to 43.3% of GDP July 24, 2024Cameroon's public debt has reached CFA13,070 billion ($21.61 billion) at the end of June 2024, according to data from the national sinking fund CAA. This is equivalent to around 43.3% of GDP, up 0.8% compared to the previous quarter and 4.9% compared to the same period last year. The majority of this debt, 93.5%, is […]