Bank analysts warn that Gabon, like much of the globe and the rest of the continent, could fall into recession in 2020, and estimate a negative real GDP growth rate of -1.7% for the country, due to the pandemic.
Failure in realizing the plan led to the dismissal in 2018 of 270 CNIC employees for economic reasons. It must be said that the company has experienced permanent discomfort for ten years, marked by poor working conditions, salary arrears and unpaid benefits. A situation which has led to several demonstrations by disgruntled past and present...
The note also points out that “conversely, crude oil exports fell 20.2% to 2.35 million metric tonnes, due to weak demand, linked to the glut of 'international offer'. Explanation: “the average crude prices were 50.26 dollars per barrel for Brent and 49.16 dollars per barrel for the basket of Gabonese crude, representing respective decreases of...
Under the terms of the new decree, PCAs benefit from a salary, the terms of which are fixed by the Board of Directors of each entity. PCAs carrying out another remunerated public activity will only be entitled to an occasional flat-rate allowance. The terms and amount of this allowance are set by the Board of...
“This new Regulation gives an opportunity to the Republic of Equatorial Guinea to continue being a world reference in the hydrocarbons sector. To maintain our position, we must be prepared, with updated norms and policies, to respond to the great challenge that the recovery of commodity prices, the creation of employment and the execution of...
Indeed, according to the modifications recently carried out in article 15 of the law n ° 047/2018 of January 30, 2019 determining the resources and the loads of the State for the year 2019, the new article 15 henceforth exempts from this contribution "Gabonese benefiting from the support of social meters".
The project is part of the objectives pursued by the countries of Central Africa to make their sub-region, "an emerging integrated space, where security, solidarity and good governance prevail for human development", the CEMAC Commission explained.
The decision has not gone down well with trade union leaders. The air transport unions has urged Camair-co employees to reject this technical leave. This decision was taken on June 21, 2020, by the presidents of six unions during an inter-union meeting in Douala.
“The complexity and opacity of the production and monetization chain within the creative industries in Africa makes the sector more informal and discourages investors and insurers from contributing to its viability and bankability,” he noted, while arguing that if artistic creators in Africa in general and Central Africa in particular were properly insured, they would...
“The project of developing a unique industrialization and economic diversification strategy for Central Africa is therefore godsend to enable us work together around the common value chains that will provide countries of our sub-region with the opportunity to produce, transform, distribute, and consume manufactured goods which resonate with their own needs and tastes,” according to...
On the African continent, the difference allegedly recorded in Gabon’s production in May would be tiny compared to that of other countries such as Nigeria and Angola. These two countries, the first from West Africa and the second from Central Africa, are now presented as "laggards" for not having communicated to the organization their different...
The construction of the structure, on Sino-Cameroonian funds, has been completed since June 2017 but the expected energy (211 MW) of the production plant is not yet available at the Nkolkoumou substation in Yaoundé, to be injected into the South interconnected network (RIS). "Currently, around 60 MW are available and EDC intends to quickly increase...
Since April 2020, the public treasury has been requesting the BEAC securities market, as part of a vast fundraising program for a total amount of CFAF 220 billion. The Cameroonian Parliament had in fact, within the framework of the Cameroon Finance Law for the financial year 2020, authorized the government, “to use issues of public...
"I am pleased to have obtained the funding necessary to continue the growth of Cofina Gabon," Cofina Gabon Chief executive revealed.. "It will allow us to continue to meet the needs of Gabonese SMEs at a very difficult time because of the pandemic of the new coronavirus," Yvan N’na Mboma said.
Sasol's interests in petroleum include a 27.75% stake in the Etame Marin license off the coast of Gabon, operated by Vaalco Energy, and a 10% stake in a gas to liquid conversion project of 33,000 barrels a day in Nigeria.
Sadick Brahim Dicko reassured that transparency was used in the process of granting these credits by his entity. "No young person will be discriminated against for their political, ethnic, religious or regional affiliation," he said.
The latter resolved to envisage the future with the Covid-19 and see what arrangements are necessary and how to pool efforts in sharing experiences to develop the African oil industry. The APPO ministers also agreed on "the importance of developing south-south cooperation in the field of the oil industry and taking stock of the technologies...
These payments to the State are distributed as follows: $ 60.3 million to the General Directorate of Hydrocarbons, or $ 46.1 million in kind based on production; $ 12.9 million in royalties and $ 1.3 million in fees. In addition, $ 25.9 million to Gabon Oil Compagny for $ 22.6 million in kind based on...
