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Economy

Hydrocarbons: rebound in oil prices restores Congo’s budget balance

Faced with these fluctuations, the Congolese government decided in April to revise its budget forecasts by half, by putting in place mechanisms to restore budgetary balances. According to the Minister...
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Clément Kemayou: A key player at the CBC

As part of the barrier measures, areas protected against bad weather have been set up in front of our branches to allow customers to wait for their turn of duty...
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Transit fees on Chad-Cameroon Pipeline fetch Cameroon more than 15 billion FCFA in Q1 of 2020

During this first part of 2020, "20.80 million barrels of crude oil passed through the Chad-Cameroon pipeline. During the same period last year, 19.86 million barrels were transported, " the...
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OPEC restrictions on Gabon may cause constraints on the country’s economy

Finally, the sudden adjustment imposed by OPEC compromises Gabon’s economic diversification efforts, even though we can see how dependence on hydrocarbons is a dangerous trap. The country is resolutely committed...
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Chadian Employers urge the Government to protect local industries

According to its President, the CNPT in no way supports the monopoly of companies, or even the pooling of interests to establish a dominant position. It is in this logic...
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BEAC injects 600 billion FCFA into financial market

Indeed, the implementation of this operation is linked to the agreements concluded with the International Monetary Fund (IMF). "To benefit from this operation, the central bank asks the States, in...
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Bertrand Mbouck named CEO of Dangote Cameroon

He joined Finnish power plant manufacturer Wärtsilä, which was setting up a subsidiary in central Africa, as area business controller. He realised, though, that to sit at the top table...
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Cameroon to import 465 thousand MT of petroleum products in the last quarter of 2020

Since the end of 2019, "Cameroon has put in place a new mechanism for sustainable supply of the market in order to minimize costs and possible shortfalls that would continue...
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Covid 19 threatens 1000 jobs in Gabon’s tourism sector

According to the member of the government, the consequences are alarming with 1000 direct jobs threatened; 150,000 lost customers; the three-quarter drop in operator turnover compared to 2019; several companies...
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Congo sets ground work to upgrade Tax code

Thus, for ten days, agents and executives of the tax administration will discuss issues relating to the draft of the new general tax code and the book of procedures. Two...
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Provincial heads in Chad challenged to strengthen revenue collection

“Emphasis was placed on the issue of administrative revenue, but also on expenditure in the provinces. Regarding the collection of revenue by the ministries and entities in the provinces, they...
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Congolese bank assets up 6.3%

Due to underperformance in exports and imports, inflation is estimated at 2.8% this year, down from 1.8% a year earlier. The money supply in circulation will fall by 14.1% due...
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Cameroon Tax Administration launches new payment portal SYAMPE

It is a system which allows "not only the taxpayer to fully control his taxpayer expenses without going to the competent administrations for follow-ups, but it also provides you with...
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AfDB predicts gloomy economic outcome for Gabon

According to forecasts from the African Development Bank, the health crisis linked to Covid-19 should lead to a slowdown in the process of diversification and industrialization, given the decline in...
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