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Economy

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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Gabon: “Public investment is not the engine of growth” – IMF

In terms of quality of infrastructure, the efficiency of public investments has halved from the optimal level forecast, compared to a drop of 20% in the world and in sub-Saharan...
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Gabon to reduce Oil production by 23% in 2020

"It must be recognized that, as far as Gabon is concerned today, our production comes from so-called mature fields. This means fields which have shown their full potential and which...
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Gabon unveils Digital Investment Window

According to Gabriel Ntougou, the GNI generates a reduction of the delays in terms of formalization for obtaining a circuit sheet. The same is true for the waiting time and...
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Telecommunications – Provision of Internet Access: CAMTEL achieves a 170% increase in total traffic for its users in the city of Douala

Since the onset of the pandemic, ” CAMTEL has enabled government action to continue via videoconference thanks to its connectivity solutions. In terms of teleworking, the public company has a...
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Pisa Project: AFD to hasten the delivery of 89 classrooms in Gabon

Funded to the tune of 101 billion CFA francs, the Pisa program aims to improve access to primary and secondary education in Libreville and Port-Gentil, in particular through the construction...
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Use of Copil funds: Jean-Marie Ogandaga at CNLCEI

"We have presented to the Commissioners what we are doing. Because we must avoid grey areas in such a situation, "said the Minister of Economy. "The head of state trusts...
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