On October 19, 2024, CCA Bank will celebrate the inauguration of its impressive new head office located at Rue Joss in Bonanjo, Douala. This state-of-the-art 15-story building represents a significant milestone for the bank, which is committed to enhancing services for both local and international clients. The new office will coordinate operations across 54 active...
On October 11, the players in the national oil market agreed on the price of a barrel of crude oil at 78.59 dollars, representing an average quarterly differential of -0.34 dollars per barrel. The prices of the reference crudes were readjusted to 75.99 dollars for Djeno Blend , 78.12 for Nkossa Blend and 81.67 for Yombo. Congolese...
The Council of Ministers of the Union of Central African States (UEAC) held its 42nd ordinary session in Bangui, Central African Republic, on 11 October 2024. The bulk of this year’s session was devoted to examining and adopting the draft budget for the year 2025. From 7 to 8 October 2024, the inter-State committee examined...
By the end of the decade, Africa will see the emergence of world-class airports, while existing ones will undergo significant upgrades. This strategic positioning is crucial for a continent attracting global tourists and fostering regional and international commercial development. By the end of the decade, world-class airports are set to rise across Africa, while existing...
The Managing Director of the National Hydrocarbons Company (SNH), Adolphe Moudiki, reiterated his impatience to see the judges of the Special Criminal Court (TCS) finally open the investigation in Cameroon, as part of the prosecution of the accomplices of the Swiss multinational Glencore, accused of corruption in the country. Adolphe Moudiki’s statement echoes the pre-trial...
On October 8 in Brazzaville, Prime Minister Anatole Collinet Makosso chaired the opening ceremony of the annual general assembly of the Union of Economic and Social Councils and Similar Institutions of Africa (Ucesa) , coupled with the Conference on “environmental issues and sustainable development in Africa .” The stakes being, among others, the examination of the activity report, the draft strategic...
The United Bank for Africa, UBA, is in the process of recapitalization which gives investors across the globe and Cameroon in particular where it has a strong hold chance to reap big. The Bank is said to have already tabled its application for the recapitalization process at the Security and Exchange Commission, SEC. The approval...
Established by the 2025 Finance Bill, the Fee on electronic money issues (mobile money, bank cards, etc.) will no longer be levied at 5% on each transaction. Faced with the outcry caused by the announcement of this new tax, the authorities have decided to divide it by 10. The announcement of the institution of the...
Oil barrel prices remain volatile due to the drop in demand in major markets (China, United States) and the persistence of geopolitical tensions. The main players in the national market met on October 9 in Brazzaville to set prices for Congolese crudes, in particular Djeno Blend and Nkossa Blend, for the third quarter of 2024. ...
In the CEMAC zone, the regulation on the organization and operation of the Central African market, adopted on July 18, 2024 and made public on October 2, 2024, gave rise to a new pricing applicable to the Central African Financial Market Supervisoy Commission CONSUMAF and to the persons, structures or organizations subject to its control. This new grid...
Meeting on October 4, 2024 in Douala the Assa-ac Council of Ministers once again focused on the operationalization of its 2025 vision, the objective of which is to make CEMAC , ” an integrated and emerging economic space, where security, solidarity and good governance reign, in the service of human development”. At the same time, the Council looked at the...
The official ceremony to launch the works of the second phase of the Yaounde-Douala motorway took place yesterday. It was during a ceremony chaired by the Minister of Public Works Emmanuel Nganou Djoumessi For the construction of this infrastructure which covers a linear distance of 141.1 km between Bibodi in Nyong and Kelle and Douala the economic capital...
The Douala Agency of the Bank of Central African States BEAC the economic capital of Cameroon is launching an operation to exchange banknotes for coins. This operation mainly concerns pharmacies, supermarkets, department stores, bakeries and business owners. According to the BEAC Agency in Douala, the exchange of banknotes into coins will take place every Monday, Tuesday...
There was excitement around digital technology from the first day of the FrancoTech Show, which took place on October 3 and 4 at Station F in Paris. Between the stroll of the President of the French Republic, Emmanuel Macron, in the presence of Louise Mushikiwabo, Secretary General of the International Organization of La Francophonie, and...
The Ministry of Mining Industries and Geology organized in Brazzaville, in partnership with the United Nations Development Program (UNDP), a training and awareness-raising workshop for 25 small-scale artisanal mining entities on the process of formalizing small and medium-sized enterprises in the Republic of Congo. Participants were made aware of national tools for promoting their work. The...
Africa’s Global Bank, United Bank for Africa (UBA) has appointed Fonda Fred Fonda as Chief Finance Officer (CFO) for Africa, where he will oversee the bank’s subsidiaries in Central, West, East, and Southern Africa. Before his appointment, he served as CFO for UBA Cameroon. Fonda is a Chartered Certified Accountant (ACCA) by profession with several years...
The Gabon Guarantee Company (SGG) and the Gabon Agriculture and Livestock Company (SAEG) signed a memorandum of understanding on September 30, 2024. This strategic partnership, supported by the Gabonese Strategic Investment Fund (FGIS), aims to facilitate rural entrepreneurs’ access to suitable financing, by strengthening the financial security of agricultural and livestock projects in Gabon. The...
The memorandum of understanding for the completion of work on several oil blocks in Congo was signed on September 27 in Moscow, Russia, between the Minister of Hydrocarbons, Bruno Jean Richard Itoua, and the Vice President of Lukoil, Ivan Romanovsky. The oil agreement provides for a strengthening of cooperation between the National Oil Company of...
