Finance Actus
- Eneo Balances Rising Power Demand in Northern Regions with Solar and Rain Boost September 17, 2024Cameroon’s power utility Eneo reported that the electricity supply in the country’s northern regions (Adamaoua, North, and Far North) has remained stable in the first half of 2024, despite a 10% increase in demand on the Northern Interconnected Network (RIN), which serves these areas. The company stated that the higher demand was largely due to […]
- Cameroon Slips to 13th in Global Banana Exports in 2023 September 17, 2024Last year, Cameroon fell to 13th place in the ranking of global banana exporters, according to a recent report from the Competitiveness Committee. This marks a drop of three positions from the previous year. The document attributes this underperformance to a 10% drop in banana exports compared to the previous year; a decline that caused […]
- Cameroon Unveils CFA13bn Credit Line for Post-COVID SME Boost September 17, 2024The Cameroonian government signed an agency agreement yesterday in Yaoundé with Afriland First Bank. They plan to launch a new credit line of $22.2 million, or over CFA13 billion to support the post-COVID recovery of local SMEs. Alamine Ousmane Mey, the Minister of Economy, Planning, and Regional Development, and Célestin Guela Simo, the CEO of Afriland […]
- Cameroon-Sundance Resources Dispute Goes to Paris Arbitration in January 2025 September 16, 2024An arbitration hearing between the Cameroon government and Australian junior miner Sundance Resources is scheduled before the International Chamber of Commerce (ICC) in Paris from January 27 to January 31, 2025. Sundance Resources, through its Cameroonian subsidiary Cam Iron, is involved in a dispute over the Mbalam-Nabeba iron ore project, which straddles Cameroon and Congo. […]
- Cameroon Grants 4th Solid Mining Permit to Canyon Resources September 16, 2024On September 13, 2024, Cameroon's interim Minister of Mines, Fuh Calistus Gentry, handed an exploitation permit to Camalco, the Cameroonian subsidiary of Australian mining firm Canyon Resources. This permit allows the company to begin developing the Minim-Martap bauxite deposit in the Adamawa region. According to the Ministry of Mines, the permit was signed by President […]
- Cameroon’s Pineapple Exports Flat Despite U.S. and EU Demand September 16, 2024Last year, European Union countries remained the largest consumers of Cameroonian pineapples, with France leading the way. According to a recent report on Cameroon's economic competitiveness by the Competitiveness Committee, a specialized unit under the Ministry of Economy, "France (59%), Belgium (32%), and Italy (4.7%) are the top three buyers of Cameroonian pineapples. The United […]
- Cameroon Partners with Qingdao Center to Boost Agricultural Exports to China September 16, 2024Last week, Cameroon’s trade department announced plans to boost agricultural exports to China. To achieve this, the ministry formed a partnership with the Qingdao International Agricultural Products Exhibition and Trade Center, which operates under the Shanghai Cooperation Organization and is located in the port city of Qingdao, China. This initiative is part of the "From […]
- Kribi Port Receives Five New Cranes for New Dock September 13, 2024On September 13, a ship arrived at Kribi Port carrying important equipment from Shanghai Zhenhua Heavy Industries Company Limited. This delivery was significant for the port as it brought five new cranes for the Port Authority of Kribi and marked the first use of the new 715-meter-long dock. This dock is a major component of […]
- Cameroon and World Bank Discuss Congo Basin Sustainable Forestry Plan September 13, 2024Cameroon's Minister of Forests and Wildlife, Jules Ndoret Ndongo, met earlier this week with a World Bank delegation led by Guillemette Jaffrin, deputy director of operations for Cameroon. The meeting focused on a new regional initiative aimed at transforming the forest sector in the countries of the Congo Basin. “We're starting discussions with the Ministry […]
- Mitwa Ng’ambi (MTN): August Marked Record Highs in Fiber Optic Instability September 13, 2024In recent weeks, mobile telecommunications services in Cameroon have experienced a noticeable decline in quality. In a statement released on September 11, 2024, the telecom regulator, ART, attributed this issue to the "continuous degradation" of the national fiber optic network and called for a reevaluation of the network's maintenance practices. In an exclusive interview with Business […]
- Akéré Muna Praises Finance Minister for Glencore Investigation September 12, 2024In a recent Facebook post, Akéré Muna, a prominent African lawyer and former presidential candidate in Cameroon, congratulated Finance Minister Louis-Paul Motaze for his handling of the Glencore corruption case. “The Finance Minister of Cameroon deserves praise for his strict approach and thorough investigation into Glencore for tax and customs fraud,” Muna stated. This praise […]
- Cameroon Sees 19% Boost in Investments for 2023, But Production Equipment Still Declines September 12, 2024Businesses in Cameroon increased their investments by 19% in 2023, according to a report released on September 10 by the National Institute of Statistics (INS). However, despite this rise, the deterioration of production equipment continues, increasing from 59.6% in 2022 to 60.1% in 2023, the document noted. This means that even though companies put more […]