The Deputy Prime Minister of the Gabonese Transition, Alexandre Barro-Chambrier, met with the Vice-President of the BDEAC, Jean Paterne Megne Ekoga, on January 13, 2025. This meeting made it possible to take stock of 2024 and explore possible synergies to finance Gabon’s development projects. In Libreville, on January 13, 2025, the Deputy Prime Minister of...
The Board of Directors of the Africa Development Bank Group ( AfDB ), approved on December 13, 2024 in Abidjan, Côte d’Ivoire, a loan of 318.24 million Euros (more than 209 billion FCFA) to Cameroon to implement the fourth phase of the Transport Sector Support Program (Past4). This is within the framework of the reconstruction of the Douala-N’Djamena-Ngaoundéré-Garoua...
The Central African Stock Exchange (Bvmac) stock market underperformed in 2024, marked by a 4.9% decline in market capitalization. This situation is mainly linked to the 8.18% decline in the Socapalm share price, coupled with the stagnation or decline of other listed stocks. However, a recovery is expected in 2025 with the entry of new...
A presidential decree signed on January 7, 2024 authorizes the signing of a financing contract with the European Investment Bank (EIB) to supplement the resources needed for the Rural Electrification and Energy Access in Underserved Areas Project (Perace). With this support, the government aims to have 240,000 connections by 2025, reaching more than 2.5 million...
In order to put an end to the shortage of coins which is penalizing commercial transactions in the Central African Economic and Monetary Community (CEMAC) zone, the Bank of Central African States (BEAC) is considering putting into circulation a new range of “type 2024” coins. The announcement was made in a press release issued at...
The Prime Minister of the Transition, Raymond Ndong Sima, spoke this Thursday, January 9 with the Vice President of the Development Bank of Central African States (BDEAC), Jean Paterne Megne Ekoga. The institution’s balance sheet for the year 2024 was presented to the head of government, as well as the outlook for 2025. We thus...
During a ceremony held on January 8, 2025 in Douala, 72 BGFIBank Cameroon employees were decorated by the Minister of Labor and Social Security, Grégoire Owona. These distinctions, symbols of recognition for their contribution to the excellence of the company, are part of a now well-established tradition. The hall was full on January 8, 2025...
In January 2025, the General Directorate of Customs (DGD) aims to mobilize 95 billion FCFA, or 8.31% of its annual target of 1,144 billion FCFA. The strategic sectors of Douala and Kribi remain the main drivers of customs revenue collection, while crisis areas remain behind. The General Directorate of Customs (DGD) is forecasting a collection...
Since January 1, 2025, mobile money users in Cameroon have been experiencing a new increase in costs on money transfer and withdrawal operations. The 2025 Finance Law introduces an additional tax of 4 FCFA per transaction, confirming the State’s desire to maximize revenues from this booming sector. Since the beginning of 2025, transferring or withdrawing...
Modernizing and strengthening infrastructure, gradually resolving network access problems and improving the quality of services, this is the direction that will be given to the budget of 326.2 billion CFA francs adopted for the 2025 financial year (317.6 billion allocated for the year 2024). Conclusions from the work of the board of directors held on...
On the instructions of the President of the Transition, the Debt Taskforce will, at the beginning of this year, audit the orders pending payment to the Public Treasury for the benefit of companies that acquired and delivered public contracts between 2021 and 2022. This is rather good news for many companies that have been waiting...
The Tony Elumelu Foundation (TEF), Africa’s leading champion of entrepreneurship, is pleased to announce that applications for its 2025 Entrepreneurship Programmes are now open. Aspiring and existing entrepreneurs from across Africa are invited to apply for a chance to receive world-class training, expert mentoring, and non-refundable seed capital funding to scale their businesses. Programmes Open...
Appointed by the Council of Ministers on December 18, 2024, the new Director General of the Autonomous Port of Brazzaville and Secondary Ports, Séraphin Mouendzi, and his deputy Lionel Daniel Konabeka took office on January 3. Aware of the heavy task that awaits them, they promise to take up the challenges. An accountant by training,...
Gabon will host the first-ever Global Gateway Investment Forum on January 30, 2025. This event, organized under the auspices of the European Union (EU), aims to promote transformative investments that can stimulate sustainable development in the country and within the sub-region. Economic actors from the public and private sectors, donors, development financial institutions (DFIs), banks...
The Ministry of Economy’s Sectoral Outlook Note, devoted to the months of July, August and September, analyzes the performance of the cash crop agriculture sector. In this part of the Gabonese economy, palm plantations have weighed down this segment. As for wet rubber production, it improved by 18.5% in the third quarter of 2024. The...
Louis Paul Motaze, Minister of Finance , is the new Chairman of the Board of Directors of the Development Bank of Central African States ( BDEAC), at the same time Chairman of the General Assembly of the said institution. He replaces in this position, the Chadian Tahir Hamid Ngulin, Minister of State, Minister of Finance, Budget, Economy...
Cameroon and Congo are embarking on an ambitious steel project in Kribi, aiming to generate 50 billion CFA francs in financial benefits. Led by the Bestway Finance consortium, this complex is expected to transform 15% of local iron ores while reducing iron costs on the CEMAC sub-regional market. The Mboro Modern Steel Complex, located in...
United Bank for Africa (UBA) has announced the appointment of Joseph ABENA as Regional Marketing and Communication Director for the CEMAC region. This choice demonstrates the group’s confidence in its local talents and its desire to assert its presence in this strategic area. UBA Group, a major player in the African banking sector, has started...
