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Economy

Prodece: Signature of the first public-private partnership framework agreement

Launched in 2018, the Prodece is an initiative of the government-funded by the World Bank as part of a program to improve the effectiveness of vocational training, skills development and...
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Gabon’s petroleum revenue may drop after briding OPEC production quota

Furious, OPEC should punish the bad guys. Having joined this organization in 2016, Gabon, in particular, will be forced to lower its production for several months in 2020, in order...
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Gabon reviews 2020 State Budget as Covid 19 hits economy

"The amending finance bill for the year 2020 is part of a particular context marked by the spread of the Covid-19 worldwide with consequences for the national economy," the government...
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GICAM advocates for economic patriotism to summount Covid 19 induced economic shocks

Regarding the publication of the evaluation report of the socio-economic effects of the coronavirus in Cameroon, published by the National Institute of Statistics (INS) and the United Nations System, "they...
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Chad and Germany review Economic cooperation

The Minister of Economy and Development Planning says he is very satisfied and very happy to welcome the German ambassador, a first of its kind. Dr Issa Doubragne goes on...
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Cameroon’s SME Promotion agency launches support program for enterprises

"It will also be capable of mobilizing financial players and banking institutions to finance the prototyping stages, as well as ensuring the viability and sustainability of the Fund."
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World Bank predicts 2.8% decline in sub-Saharan Africa’s economy in 2020

"Growth could resume at 3.1% in 2021 assuming that the pandemic subsides in the second half, that national virus epidemics follow a similar trajectory and that the growth of the...
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African Energy Chamber Calls on Investors to Benefit from Extension of the 12th Gabon Licensing Round

In addition to the seismic data, well data is now available for 167 wells within the MegaSurvey area, in order to support the evaluation of the blocks on offer. “Value-added...
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Banana exports in Cameroon drop in May

"By April 2020, banana exports had increased by more than 2,721 tonnes. According to data from the Cameroon Banana Association, they were 16,102 tonnes compared to 13,381 a year earlier....
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Chad and World Bank reach a deal to develop Lake Chad

François NANKOBOGO also explains that PROLAC "is part of the World Bank's regional integration strategy" and reconfirms the latter's commitment "to maintain support for priority areas in Lake Chad, in...
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Chad benefit from debt Moratorium

"The representatives of the Paris Club creditor countries have agreed to grant" to these countries a "suspension of debt service for a fixed period, from May 1 to December 31,...
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EDC plans to increase production of the Memvele dam from 60 to 80 Megawatts

Another project is the completion of the power evacuation lines from Nyabizan to Nkolkoumou, nearly 300 km. The work already done up to about 20 km from Yaoundé is dragging...
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IMF predicts -1.2% economic growth rate for Cameroon in 2020

“GDP growth is expected to fall sharply to -1.2%, about 5 points lower than the pre-pandemic projection. The pandemic has resulted in a substantial deterioration of the global economic environment,...
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Tax rebates for 175 SMEs and VSEs in Gabon

The lucky ones were selected after examining the files by the Tax Counter, said the Minister of Economy. "Beneficiaries of tax breaks are asked to approach the tax centres on...
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