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...
In Libreville, the President of the Gabonese Transition, Brice Clotaire Oligui Nguema, welcomed a delegation of Egyptian businessmen as part of a partnership aimed at boosting investments. The Nkok Special Investment Zone and other strategic sectors are at the heart of this new era of cooperation between Libreville and Cairo. The President of the Transition,...
Surrounded by all the notables, economic and political elites of the Western region, the Prime Minister proceeded with the official opening of this infrastructure intended for the development of economic activity in this part of the country. The Prime Minister in fact unveiled the inaugural plaque of the Youpwe landing stage and fish market in...
State budget management was at the center of a government seminar this Monday, December 23 in Libreville. Chaired by the Prime Minister of the Transition, Raymond Ndong Sima, these discussions focused on the strategy to be implemented for better control of public finances. The emphasis was therefore placed on three main axes, namely the main...
The Central Bank is counting on a consolidation of growth in the Economic and Monetary Community of Central Africa (CEMAC) to 2.7% in 2024 against 2% in 2023. At the sub-regional level, according to the Bank of Central African States (BEAC), this consolidation follows the good performance of non-oil activities. The assessment of the economic situation...
In order to reduce its dependence on this matter, Gabon plans to create a digital and industrial technology park in 2025 that will produce its own equipment. A fundraising campaign to finance this ambitious project is in the pipeline. Providing Gabon with a space entirely dedicated to high technologies in the digital and industrial fields....
To address Cameroon’s high food dependence on imports, the government has launched a vast land security project covering 400,000 hectares on the Yoko-Lena-Tibati corridor. The aim is to stimulate local production of food crops and reduce the cost of cereal imports. The Cameroonian government is going on the offensive in the face of food challenges....
The SONARA rehabilitation project, which was severely affected by the 2019 fire, is entering a new phase. The Cameroonian government, with the support of the IMF, is examining the feasibility of integrating a hydrocracking unit into this refinery, which is vital to the country’s oil industry. The rehabilitation of the National Refining Company (Sonara), one...
Faced with renewed interest from commercial banks in refinancing operations, the Bank of Central African States (BEAC) increased its liquidity offer to 220 billion FCFA on December 17, 2024. This increase of 60 billion compared to the two previous operations aims to meet the growing needs of credit institutions, stimulated by the end-of-year holiday period....
In an increasingly interconnected global economy, collaboration among business organizations is essential for fostering growth and innovation. Today marks a significant milestone as the American Chamber of Commerce, the European Chamber of Commerce, and the UK Cameroon Chamber of Commerce come together to sign a Memorandum of Understanding (MOU). This Memorandum of Understanding bringing together...
The Congolese Minister of Industrial Development and Private Sector Promotion, Antoine Thomas Nicéphore Fylla Saint Eudes, was elected current President of the Board of Directors of the African Intellectual Property Organization (OAPI), with the key to organizing the 65th ordinary session in December 2025 in Brazaville The Republic of Congo will be replaced in the exercise...
The subject of several criticisms from some business leaders, the management of public procurement in Gabon remains to be perfected. In the National Assembly, for greater efficiency and transparency in this area, the Commission in charge of Economic Affairs is making several recommendations to the transitional government to be implemented as of next year. Le...
During his visit to Cameroon, Ralph Mupita, Chairman and CEO of MTN Group, unveiled a $100 million investment plan for 2025. This envelope is part of a broader strategy of $300 million over three years (2026-2028). The objective is to strengthen network infrastructure, improve the quality of services and develop innovative digital solutions for a...
Nigeria’s Dangote Refinery and Cameroon’s Neptune Oil mark a historic milestone in their economic cooperation. The first export of refined petroleum products illustrates their vision of a more energy-independent and integrated Africa, while meeting the region’s growing needs. In an unprecedented strategic move, Dangote Refinery and Neptune Oil have just concluded their first fuel export...
Chad officially submitted the candidacy of Abbas Mahamat Tolli for the presidency of the African Development Bank (AfDB), during a ceremony in Abidjan, on December 13, 2024. With his experience in the high spheres of African finance, the former Governor of the BEAC appears as a strong candidate to lead this strategic institution. In Abidjan,...
The heads of state of the Economic and Monetary Community of Central Africa (CEMAC) are meeting on Monday in Yaoundé for better coordination in the face of worrying warning signals in the regional macroeconomic situation, a press release from the Cameroonian presidency announced on Sunday. In the short term, this critical situation compromises the disbursement...
