As of September 30, 2024, Cameroon’s outstanding balances (RAP) have reached an alarming level of 559 billion FCFA, representing 1.6% of GDP. Despite a loan contracted from Citi Group, the burden of domestic debt continues to weigh heavily on public finances, highlighting the persistent cash flow challenges of the Cameroonian State. According to the latest...
The world of music mourns the loss of Quincy Jones, who passed away at the age of 91. A true legend, Quincy Jones was a trailblazing producer, arranger, and composer whose influence extended far beyond the realm of music. His extraordinary career spanned over seven decades, and he worked with some of the most iconic artists in the history of music. Quincy Delight Jones Jr. was born on March 14, 1933, in Chicago, Illinois. From an early age, he exhibited an exceptional talent for music, and by his teenage years, he was already an accomplished musician. His career took off in the 1950s when he began working as an arranger and conductor for major recording artists such as Count Basie, Dinah Washington, and Ray Charles. This period laid the foundation for what would become a storied career. Quincy-Jones As Jones’ career progressed, he became a prolific composer and producer, working on numerous albums, film scores, and television themes. One of his most notable achievements was his collaboration with Michael Jackson on the iconic album “Thriller,” which became the best-selling album of all time. This collaboration solidified Jones’ reputation as one of the greatest producers in the music industry. Throughout his career, Quincy Jones received numerous accolades for his work. He won 28 Grammy Awards and was nominated for 79 Grammy Awards in total. He also received the Grammy Legend Award in 1991 and the Grammy Trustees Award in 2010. In addition, he was inducted into the Rock and Roll Hall of Fame in 2013, an honor that recognized his immense contributions to the music industry. Jones’ impact on music extended beyond his work as a producer and composer. He played a crucial role in bridging the gap between different musical genres, blending elements of jazz, pop, soul, and hip-hop to create a unique and timeless sound. His innovative approach to music production influenced countless artists and producers, shaping the sound of modern music. As a mentor and “Godfather” of music, Quincy Jones played a pivotal role in the careers of many artists. Michael Jackson, who referred to Jones as a mentor and father figure, credited him with helping to transform him into the “King of Pop.” Jones also mentored and worked with artists such as Lionel Richie, Oprah Winfrey, and Will Smith, among others. His guidance and support helped these artists reach new heights in their careers. Quincy-Jones, John-Legend John Legend, a close friend and collaborator, remembered Jones as a mentor who gave him great advice and shared countless stories. Michael Caine, another longtime friend, described him as a unique human being and a titan in the musical world. Ice-T, who won his first Grammy thanks to Jones, called him a genius and a true legend. Will Smith, whose TV series “The Fresh Prince of Bel Air” was produced by Jones, referred to him as a mentor, father, and friend. Beyond his musical achievements, Jones was also a dedicated humanitarian. He used his platform to advocate for social justice and equality, supporting causes such as education and healthcare. His philanthropic efforts earned him the respect and admiration of people around the world. Quincy Jones’ legacy is one of innovation, creativity, and excellence. He leaves behind an indelible mark on the music industry, and his contributions will continue to inspire future generations of musicians and producers. As the world bids farewell to this musical giant, his influence and impact will be felt for years to come. Quincy Jones, thank you for the music, the mentorship, and the memories. Your spirit will live on through the melodies and harmonies you helped create. Rest in peace, legend. Quincy Family Quincy-Jones, Barack-Obama Quincy-Jones, John-Legend
The 2024 edition of the Africa Investment Summit (AFSIC) took place in London from October 7th to 9th, marking a significant moment for investment discussions focused on the African continent. Organized by Africa Events Limited (AEL), the event drew an impressive crowd of 1300 delegates, included 380 speakers, and was supported by 52 sponsors. Furthermore, the summit facilitated 4300 B2B meetings and saw the financing of 350 projects worth over 10 billion dollars in countries such as Uganda, Sierra Leone, and Zambia. The event also boasted over 27 media partners, 163 investors, and the participation of more than 30 countries, underscoring its global reach and impact. Notably, more than 55% of the delegates hailed from Africa, reflecting the summit’s critical importance for the continent’s investment landscape. Distinguished Speakers and Key Themes This year’s summit featured a lineup of influential personalities from various sectors who provided valuable insights into the investment opportunities and challenges in Africa. Notable speakers included: Shruti Chandrasekhar (IFC): Emphasized the necessity of supporting local entrepreneurs to foster sustainable economic growth. “Investment in Africa is crucial for sustainable economic development. We must continue to support local entrepreneurs and create job opportunities for the youth.” Olufunso Somorin (African Development Bank): Highlighted the essential collaboration between international investors and African businesses. “The collaboration between international investors and African businesses is key to success. Together, we can build a prosperous future for Africa.” Hossam Abou Moussa (Apis Partners): Focused on the social and environmental impact of investment projects. “Investment projects in Africa should be centered on social and environmental impact. We must invest in projects that benefit the community while being profitable.” Matt Robinson (British International Investment): Spoke about the pivotal role of innovation and technology in driving economic growth. “Innovation and technology are powerful drivers of economic growth in Africa. We need to encourage startups and small businesses to adopt advanced technological solutions.” Nashipae Leteipan (Mastercard Foundation): Stressed the importance of education and training. “Education and training are essential to prepare the African workforce for the challenges of the modern job market. We must invest in quality training programs.” Donald Kariuki (Norfund): Advocated for investments in renewable energy and agriculture. “Investments in renewable energy and agriculture are crucial for sustainable development in Africa. We must support projects that contribute to food security and carbon emission reduction.” Chris Wehbe (Lendable): Underlined the importance of transparency and good governance. “Transparency and good governance are key to attracting investors in Africa. We must work together to improve the business environment on the continent.” Randolph Oosthuizen (Old Mutual Investment Group): Discussed the necessity of public-private partnerships for infrastructure development. “Public-private partnerships are essential for the development of infrastructure in Africa. We must encourage governments to collaborate with the private sector to finance infrastructure projects.” John Mair (European Bank for Reconstruction and Development): Focused on the importance of investing in basic infrastructure. “Investment in basic infrastructure such as roads, bridges, and ports is crucial to stimulate economic growth in Africa. We must focus on projects that improve connectivity and competitiveness.” Michelle Patrick-Akinrinade (US International Development Finance Corporation): Stressed investments in health and education sectors. “Investments in health and education are essential to improve the well-being of African populations. We must support projects that bring tangible improvements in these areas.” Imran Patel (Verdant Capital): Highlighted the importance of diversifying investments. “Diversifying investments is important to reduce risks and maximize returns. We must explore new opportunities in various sectors and regions.” A Resounding Success AFSIC 2024 proved to be a resounding success, providing a dynamic platform for discussions, networking, and collaborations. The event strengthened the commitment towards economic development and sustainable growth in Africa, establishing robust connections between investors and entrepreneurs on the continent. The diverse range of topics discussed and the significant participation of key stakeholders underscored the summit’s vital role in shaping the future of African investment.
The Special Council Support Fund (Feicom) recorded an impressive balance sheet for the year 2023, with revenues reaching 293.4 billion FCFA. This figure marks a significant increase of 57.5 billion FCFA compared to 2022. This financial dynamism, supported by tax reforms and efficient management, bodes well for the financing of projects of decentralized local authorities...
The information contained in the 2023 activity report of the Central African Stock Exchange highlights the essential role played by the Cameroonian Regional Bank. According to the Bvmac activity report, 248 successful movements were recorded in the equity compartment in 2023, compared to only 187 in 2022. As a result, the total value of transactions...
On October 30, the American government granted grants of $140,000, or 85 million CFA francs, to eighteen Congolese NGOs in Brazzaville. This aid will enable the beneficiary NGOs to carry out their projects with a view to contributing to the empowerment of Congolese communities, particularly disadvantaged ones. s part of the Ambassador’s Self-Help Funds and the...
The 29th edition of the Salon du Chocolat opened its doors to the public on October 30th at Porte de Versailles in Paris. This year’s event features innovative and diverse recipes, authentic demonstrations starting from the humble cocoa bean, and unimaginable chocolate-based shows and parades. With 60 countries showcasing their expertise, visitors of all backgrounds, especially chocolate enthusiasts, will find the event to be a celebration like no other, filled with a festive atmosphere and rich exchanges. A Chocolate Wonderland Chocolate like you’ve never seen it before. Whether shaped as hammers, princesses, or old-fashioned irons, every means is employed to captivate the numerous visitors at the Salon du Chocolat, which opened on October 30, 2024, at Porte de Versailles. For five days, acclaimed chefs, top-tier pastry chefs, exceptional confectioners, and cocoa producers will share tips, recipes, and culinary advice based on chocolate and its derivatives. They’ll even delve into the intrinsic knowledge of this well-known delicacy. A Treat for Every Taste and Budget Despite not being the most consumed food globally, dark chocolate, white chocolate, nougat, rum chocolate, and raspberry chocolate, to name a few, remain highly appreciated and accessible to all budgets at the Salon du Chocolat, delighting gourmets of all kinds. To be part of the chocolate extravaganza, one must budget between 8 to 42 euros, depending on whether you are a child, adult, or visiting as a family. Beyond Tasting: A Platform for Exchange The Salon du Chocolat is not just a tasting event. It is also a platform for exchanges and B2B interactions where attendees can also make great business deals.
Access Bank, a wholly-owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating across a vast network of over 700 branches and service points spread across 3 continents, 22 countries, and serving over 60 million customers. With more than 28,000 employees spread across its operations in Africa, the United Kingdom, and Europe,...
Central African economic leaders, gathered in Douala under the Union of Central African Employers (UNIPACE), call on governments to act in the face of failing infrastructure, unbalanced taxation and weak economic integration. A union for development is essential to stimulate inclusive and sustainable growth in the region. It was in Douala, Cameroon’s economic capital, that...
The Central African Stock Exchange (BVMAC) continues its growth, with a 13.5% increase to 1,633.7 billion FCFA in June 2024 in the market capitalization of all listed securities compared to 1,439.3 billion FCFA a year earlier. In its latest 52-page report on the monetary policy of the sub-region, the Bank of Central African States...
The National Mining Company of Cameroon (Sonamines) marks a step forward in the management of mineral resources by transferring 420 kg of gold to the public treasury. This transfer, corresponding to 224 ingots, strengthens national reserves and illustrates the State’s desire to maximize tax revenues from artisanal mining. Sonamines, created in 2020 to structure the...
The global film industry is undergoing a profound transformation thanks to artificial intelligence (AI). This technology is revolutionizing not only the production and distribution of films but also the way content is created and consumed. AI has the potential to overhaul every stage of film production. Tools like ChatGPT and Midjourney can generate scripts, storyboards,...
Tony Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA), and the Founder of The Tony Elumelu Foundation (TEF), will co-chair the New African Summit, at the upcoming eighth edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia. Elumelu and other global financial business leaders will headline the FII Opening Plenary...
By Nicholas Norbrook Fresh from meetings with Senegal’s President Faye and Aliko Dangote, and about to celebrate 40 years of banking in the US, UBA chair Tony Elumelu expands on his vision for ‘joining the dots’ across the continent and the world. Tony Elumelu, the ever-kinetic proponent of Africapitalism, advocates for wealth- building within Africa...
Our team had the privilege of sitting down with Landry Nguetsa, the lead actor in the biopic about the legendary Jean Miché Kankan, whose real name was Dieudonné Afana Ebogo. Landry shared his enthusiasm for the project and the honor he felt in portraying such an authentic and iconic African comedian. How did you get...
The BRICS 2024 Summit, held in Kazan, Russia from October 22 to 24, showcased significant discussions and resolutions aimed at bolstering multilateralism, economic development, and global security. This landmark event brought together influential leaders, including Russian President Vladimir Putin, Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa, and Egyptian...
Kribi Conteneurs Terminal (KCT), manager of the Kribi Port Container Terminal, is continuing its expansion with a colossal investment of 70 billion FCFA for the acquisition of new equipment and infrastructure. This modernization aims to strengthen Kribi’s position as a strategic hub for regional and international trade, while respecting environmental standards. On October 14, 2024,...
Cooperation between the two countries has strengthened in recent years, thanks to the notable commitment of Russian companies in the oil and gas sector in Congo. After a meeting with the Minister of Hydrocarbons, Bruno Jean Richard Itoua, on October 22 in Brazzaville, the Russian ambassador, Illias Iskandarov, spoke of the need to implement ongoing...
