On November 24 and 25, 2024, Douala hosted the 7th edition of the MTN Business Academy. This annual event provided training for local entrepreneurs, with a focus on digital transformation and strengthening managerial skills. An initiative that aims to strengthen the competitiveness of SMEs, essential to the national economy, in a changing economic environment. Small and...
According to the draft law n°2074/PJL/AN relating to the finance law of the Republic of Cameroon for the financial year 2025, the fuel subsidy will be set at only 15 billion CFA francs for the next financial year. From 263 billion CFA francs to 15 billion CFA francs, this downward trend should have adverse effects...
As part of President Bola Ahmed Tinubu’s state visit to France, the Chairman of UBA Group, Tony Elumelu in the presence of President Tinubu and the President of France, Emmanuel Macron, signed a landmark business cooperation agreement with the French Finance Minister, Antoine Armand. The agreement is a significant indication of support by the French...
On a visit to Cairo, the President of the Gabonese Transition, Brice Clotaire Oligui Nguema, met with Egyptian investors and President Abdel Fattah Al-Sissi. The discussions aim to strengthen bilateral cooperation in sectors such as infrastructure, trade and energy, while paving the way for structuring investments for Gabon. During his stay in Cairo, the President...
The Cameroonian government has submitted to Parliament its draft budget for 2025, estimated at 7,317.7 billion CFA francs, a slight increase compared to 2024. This envelope places emphasis on public investment, with an increase of 16.1% in this area, while relying on growth in the non-oil sector. The draft budget of the Cameroonian State for...
Despite colossal investments and jobs generated, the oilseed sector in Cameroon remains under pressure. With a structural deficit of 160,000 tonnes of crude palm oil and increasing imports, the challenges related to local production, regulation and unfair competition worry the sector’s players. Over the past seven years, Cameroon has seen its imports of crude palm...
Mainly due to the increase in crude volumes sold by the company, TotalEnergies EP Gabon’s revenue stands at $157 million in the 3rd quarter of 2024, up 27% compared to the 2nd quarter. Compared to the previous quarter (124 million dollars), in the third quarter of 2024, TotalEnergies EP Gabon recorded a turnover of 157...
The future high-voltage transmission line between the Nachtigal dam and Wouro Soua, carried by revolutionary carbon-based conductors, is part of the Cameroon-Chad Electricity Grid Interconnection Project (Pirect). This colossal project, supported by many international partners, promises to improve access to electricity, reduce greenhouse gas emissions and strengthen energy integration in the sub-region. With 524 km...
The oil giant TRADEX, a subsidiary of the Société Nationale des Hydrocarbures (SNH) of Cameroon, is expanding its activities in the Democratic Republic of Congo. With a share capital of 2.5 billion CFA francs, this new subsidiary aims to strengthen energy autonomy and stimulate the country’s economic emergence. TRADEX RDC officially launched its activities on...
The Minister of Budget, Public Accounts and Public Portfolio, Ludovic Ngatsé, brought together on November 22 in Brazzaville the general, central and departmental directors of Taxes and Estates and those of Customs and Indirect Taxes to remind them of the obligation of results in the collection of public funds. In a pedagogical but sincere tone,...
On November 18, 2024, Nachtigal Hydro Power Company (NHPC) announced the commissioning of the fourth group of the Nachtigal hydroelectric development. This milestone brings the power produced to 240 MW, marking a significant step forward in Cameroon’s energy development. Launched in 2016, the Nachtigal hydroelectric project, located in the Central region, aims to strengthen the...
In an exclusive interview with CEMAC-ECO.FINANCE, Djaïli Amadou Amal, an award-winning author and passionate advocate for women’s rights, shares her inspiring journey from Maroua in Cameroon to becoming an influential voice for the women of the Sahel. Through her deeply personal and socially conscious writings, including the internationally acclaimed “Les Impatientes,” Amal discusses her mission...
The COP29 in Baku saw significant engagements, intense debates, and a spotlight on Africa’s climate challenges and hopes. With representatives from Nigeria and other African nations voicing strong opinions, the conference highlighted both the progress and the ongoing struggles in addressing global climate change. The 29th Conference of the Parties (COP29), held in Baku, Azerbaijan,...
BGFI Bank Cameroon is set to mark a milestone in its history with the official inauguration of its new headquarters building on December 6 in Douala. This ultramodern eight-story building illustrates the bank’s ambitions, its commitment to Cameroon’s economic development, and its concern for the well-being of its employees. The Cameroonian subsidiary of the BGFI...
Submitted to the National Assembly on November 13, 2024, the bill on local taxation proposes to eliminate certain municipal taxes and introduce major reforms to optimize the resources of decentralized local authorities (CTD). These measures aim to simplify the legal framework, strengthen the financial autonomy of CTDs and improve financing mechanisms. With only three local...
The Minister of Economy and Investments, Mays Mouissi, explained, on November 18, 2024 in Libreville, the ins and outs of the early repurchase operation of the Eurobond 2025. This strategic approach aimed to lighten the burden of external debt while strengthening Gabon’s financial resilience. What you need to understand. During a press briefing on November...
Cameroon’s second largest employer after the state, the Cameroon Development Corporation (CDC), which specializes in the production, processing and marketing of export crops such as bananas, palm oil and rubber, is going through an alarming financial crisis. In five years, the company has accumulated a colossal debt of 81.7 billion CFA francs. This is divided...
Patrick Benon, the dynamic CEO of Orange Cameroon, has made significant strides in the telecommunications industry, earning him the prestigious title of “CXO of the Year” at the Africa Tech Festival. This award celebrates leaders who have demonstrated exceptional contributions to their organizations through visionary leadership, innovative strategies, and exemplary execution in a rapidly changing...
