The Commission on Public Establishments in Cameroon CTR has revealed that the State has the ambition to buy the shares of Total Outre-mer within the National Oil Refinery company SONARA. The cost of the purchase is estimated at 9.6 million US dollars (about 5.2 billion FCFA). If the State were to buy out the shares...
The TOTAL Gabon Board of Directors has proposed that a dividend of $ 11 per share be distributed on behalf of the 2019 financial year, representing a total remuneration of 49.5% for the benefit of its shareholders. If this directive is adopted, it will represent a level of dividend equivalent to that of the 2018...
The Special National Solidarity Fund in Cameroon created by the President of the Republic, Paul Biya has seen an additional 770 million FCFA contributed by corporate bodies and private individuals. The information was disclosed by the Minister of Public Health, Dr Manaouda Malachie. This makes a total of 1,770,150,000 FCFA, if we count the one...
The Cameroonian government unveiled its debt strategy for the period 2020-2022, in a briefing note on issues of bonds of assimilable treasures (OTA) by auction, published on April 1, 2020 by the Ministry of Finance. The debt need of the Cameroonian State (including budget support) planned for the period 2020-2022 is 3,440 billion FCFA, including...
Franklin Nguegang, 28, uses information published on the Twitter account of the Minister of Public Health, Dr Manaouda Malachie to showcase Covid-19 infection trends in Cameroon. “The application allows you to view an interactive map of Cameroon on which are listed the different cases found of the disease and this by city, to display graphs...
The Board of Directors of the African Development Bank on Tuesday approved $2 million in emergency assistance for the World Health Organization (WHO) to reinforce its capacity to help African countries contain the Covid-19 pandemic and mitigate its impacts.The grant, which is in response to an international appeal by the WHO, will be used by...
The African Energy Chamber is calling on African governments and the judiciary to take actions to shield oil & gas companies and their workers from lawyers trying to take advantage of the Coronavirus pandemic to create instability in the workplace.While most Africans are trying to cope with the uncertainty and issues of Covid-19 and low...
After carrying out findings on the impact of the coronavirus on Cameroon’s economy, the Business cartel in Cameroon GICAM has outlined some proposals for implementation by the government. The President of the Employer group Celestin Tawamba believes that, these measures will keep the economy afloat should they be executed in the fiscal and social, customs, monetary and...
The Danpullo group, represented by the Director General of Nexttel, presented this afternoon in the Conference Room of Ministry of Public Health, a check of 100 million FCFA to Dr. Manaouda Malachi, Minister of Public Health, to beef up the Special National Solidarity Fund for the fight against Covid-19, created on Tuesday March 31, 2020, by the President...
Brahim Mahamat Djamaladine The water company of Chad (STE) will soon have a photovoltaic solar power plant. The installation is being carried out by Aboussimbil, a Chadian company specializing in general trade and building construction. The project will cost the construction company more than 500 million CFA francs (nearly ‘762,000). The plant of the Chadian...
Tower Resources has announced updates in respect of its Thali Production Sharing Contract (‘PSC’) in Cameroon, conducted through its wholly-owned subsidiary Tower Resources Cameroon, and its binding heads of terms (‘HoT’) in respect of a farm-out of a 24.5% interest in the PSC to OilLR Pty Ltd (‘OilLR’). Petroleum operations in Cameroon have already been...
The African Export and Import Bank (Afreximbank) will make available to African countries a credit facility totaling $ 3 billion to help adapt to the financial, economic and health shocks caused by the COVID-19 pandemic Known as the Pandemic Trade Impact Mitigation Facility (PATIMFA), this financial support has 3 objectives at the economic level. These...
The Board of Directors of the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea has selected and revealed the key companies shortlisted for the execution of its landmark projects under its ongoing Year of Investment. The decision was adopted at the end of a meeting in Malabo.At Punta Europa, where most of Equatorial Guinea’s...
The United Bank for Africa – UBA Cameroon has officially handed over a cheque worth 150 million FCFA through the UBA Foundation, to the Minister of Public Health Manaouda Malachie who received this gesture on behalf of the Cameroon Government. The Managing Director /CEO of UBA Cameroon Dominique Mahend and the Board Chairman Ekoko Mukete handed over...
The African Development Bank (www.AfDB.org) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset...
Projects financed by the Chinese government in Cameroon have been gripped by a plethora of challenges; causing some of them to be abandoned. While others are moving at snail pace. The 15 projects at the tune of 3.3 trillion francs CFA came under scrutiny during the March cabinet meeting chaired by the Prime Minister, Joseph...
Africa’s response to the Coronavirus Disease (COVID-19) outbreak received a boost today as the Africa Centres for Disease Control and Prevention (Africa CDC) and the Government of Ethiopia received a consignment of medical equipment from the Jack Ma and Alibaba Foundations. The shipment included over 1.5 million laboratory diagnostic test kits and over 100 tons...
São Tomé and Príncipe and Equatorial Guinea have agreed on the establishment of a Special Zone for Joint Exploration to explore and develop cross-border oil & gas reserves believed to be in the blocks bordering each country’s maritime zone. The decision was taken during a meeting this week in Malabo between H.E. Osvaldo Abreu, Minister...
