Economy

As of September 30, 2024, Cameroon’s outstanding balances (RAP) have reached an alarming level of 559 billion FCFA, representing 1.6% of GDP. Despite a loan contracted from Citi Group, the...Read More

The 2024 edition of the Africa Investment Summit (AFSIC) took place in London from October 7th to 9th, marking a significant moment for investment discussions focused on the African continent. Organized by Africa Events Limited (AEL), the event drew an impressive crowd of 1300 delegates, included 380 speakers, and was supported by 52 sponsors. Furthermore, the summit facilitated 4300 B2B meetings and saw the financing of 350 projects worth over 10 billion dollars in countries such as Uganda, Sierra Leone, and Zambia. The event also boasted over 27 media partners, 163 investors, and the participation of more than 30 countries, underscoring its global reach and impact. Notably, more than 55% of the delegates hailed from Africa, reflecting the summit’s critical importance for the continent’s investment landscape. Distinguished Speakers and Key Themes This year’s summit featured a lineup of influential personalities from various sectors who provided valuable insights into the investment opportunities and challenges in Africa. Notable speakers included: Shruti Chandrasekhar (IFC): Emphasized the necessity of supporting local entrepreneurs to foster sustainable economic growth. “Investment in Africa is crucial for sustainable economic development. We must continue to support local entrepreneurs and create job opportunities for the youth.” Olufunso Somorin (African Development Bank): Highlighted the essential collaboration between international investors and African businesses. “The collaboration between international investors and African businesses is key to success. Together, we can build a prosperous future for Africa.” Hossam Abou Moussa (Apis Partners): Focused on the social and environmental impact of investment projects. “Investment projects in Africa should be centered on social and environmental impact. We must invest in projects that benefit the community while being profitable.” Matt Robinson (British International Investment): Spoke about the pivotal role of innovation and technology in driving economic growth. “Innovation and technology are powerful drivers of economic growth in Africa. We need to encourage startups and small businesses to adopt advanced technological solutions.” Nashipae Leteipan (Mastercard Foundation): Stressed the importance of education and training. “Education and training are essential to prepare the African workforce for the challenges of the modern job market. We must invest in quality training programs.” Donald Kariuki (Norfund): Advocated for investments in renewable energy and agriculture. “Investments in renewable energy and agriculture are crucial for sustainable development in Africa. We must support projects that contribute to food security and carbon emission reduction.” Chris Wehbe (Lendable): Underlined the importance of transparency and good governance. “Transparency and good governance are key to attracting investors in Africa. We must work together to improve the business environment on the continent.” Randolph Oosthuizen (Old Mutual Investment Group): Discussed the necessity of public-private partnerships for infrastructure development. “Public-private partnerships are essential for the development of infrastructure in Africa. We must encourage governments to collaborate with the private sector to finance infrastructure projects.” John Mair (European Bank for Reconstruction and Development): Focused on the importance of investing in basic infrastructure. “Investment in basic infrastructure such as roads, bridges, and ports is crucial to stimulate economic growth in Africa. We must focus on projects that improve connectivity and competitiveness.” Michelle Patrick-Akinrinade (US International Development Finance Corporation): Stressed investments in health and education sectors. “Investments in health and education are essential to improve the well-being of African populations. We must support projects that bring tangible improvements in these areas.” Imran Patel (Verdant Capital): Highlighted the importance of diversifying investments. “Diversifying investments is important to reduce risks and maximize returns. We must explore new opportunities in various sectors and regions.” A Resounding Success AFSIC 2024 proved to be a resounding success, providing a dynamic platform for discussions, networking, and collaborations. The event strengthened the commitment towards economic development and sustainable growth in Africa, establishing robust connections between investors and entrepreneurs on the continent. The diverse range of topics discussed and the significant participation of key stakeholders underscored the summit’s vital role in shaping the future of African investment.Read More

The information contained in the 2023 activity report of the Central African Stock Exchange highlights the essential role played by the Cameroonian Regional Bank. According to the Bvmac activity report,...Read More

On October 30, the American government granted grants of $140,000, or 85 million CFA francs, to eighteen Congolese NGOs in Brazzaville. This aid will enable the beneficiary NGOs to carry out...Read More

The National Mining Company of Cameroon (Sonamines) marks a step forward in the management of mineral resources by transferring 420 kg of gold to the public treasury. This transfer, corresponding...Read More

The Cameroonian government is planning a gradual decline in inflation to reach the community threshold of the Central African Economic and Monetary Community (CEMAC) by 2026-2027. Although inflation has climbed...Read More

By Nicholas Norbrook Fresh from meetings with Senegal’s President Faye and Aliko Dangote, and about to celebrate 40 years of banking in the US, UBA chair Tony Elumelu expands on...Read More

The BRICS 2024 Summit, held in Kazan, Russia from October 22 to 24, showcased significant discussions and resolutions aimed at bolstering multilateralism, economic development, and global security. This landmark event...Read More

Cooperation between the two countries has strengthened in recent years, thanks to the notable commitment of Russian companies in the oil and gas sector in Congo. After a meeting with...Read More