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Finance

Cameroon and Gabon in search of 42 billion FCFA in the BEAC market

As was already the case on August 5, 2020, the Cameroonian Treasury has entered the money market on August 12 with Gabon, also trying to raise 12 billion FCFA, through...
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Equatorial Guinea’s National Bank given permission to operate in Cameroon

"The aforementioned authorization is granted to the company BANGE Bank Cameroon SA to practice in the banking sector, in strict compliance with the laws and regulations in force", specifies the...
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CEMAC: Prices of exported commodities fall by 3.2%

According to the BEAC, the variation in the prices of basic products between January and March 2020 was marked by a cumulative decline in energy products (-10.3%) and non-energy products,...
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Equatorial Guinea Continues Proactive Industry Engagement to Support the Oil Sector

Equally important, the Minister received a letter from the industry regarding ongoing concerns over forex regulations imposed by the Bank of Central African States (BEAC). On this occasion, he insisted...
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Congo adopts Financial reforms for the next decade

According to the Minister Delegate in charge of the Budget, Ludovic Ngatsé, the global strategy for piloting the 2020-2029 public finance reforms reflects the government's will. "This dynamic of reforms,...
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35th Session of the Ministerial Council of UEAC ongoing in Yaounde today

This Council, which is held the day after the Inter-State Committee organized in Yaoundé on August 4, 2020, will allow the Ministers of Economy and Finance of CEMAC member States...
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Gabon presents COVID 19 recovery plan to IMF/ World Bank officials

At the end of the discussions, the consensual memorandum adopted by the African governors of the IMF and the World Bank highlighted an improvement in external aid and the effectiveness...
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2020 World Bank – IMF Annual meetings: African Caucus in concertation

For Alamine Ousmane Mey, President of the 2020 African Caucus of the World Bank Group and the IMF, “hosting the African Caucus meeting on Covid-19 confirms the commitment of African...
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United Bank for Africa Provides $200 Million for Nigeria’s Petroleum Industry – Timely Financing for Post COVID Economic Growth

Both facilities will be repaid from an allocation of 30,000 barrels per day of NPDC’s crude oil. UBA has a strong track record in the resources sector across Africa, having...
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Cameroon reaps more than 40 billion FCFA from cleaning State payroll

The most recent result of the process of cleaning up the state file is "the abolition of the technical premium paid twice to certain health workers. An irregularity which led...
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Chadian Government adopts amended 2020 Finance bill

According to the report of the Extraordinary Council of Ministers, the amending finance law is intended to be realistic and aims to provide adapted but strong responses to the socio-economic,...
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New BEAC currency regulation could hamper Gabon’s investment plans

Businesses would, therefore, have to exchange their dollar-denominated income for francs, which would incur exchange costs and expose them to currency fluctuations. In addition, since the financing of oil companies...
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Congo’s General Tax Code prescribes need to introduce tax incentives for investment

The first results of the work are satisfactory ten days after the start of the work in committees, estimated the Director General of taxes and estates, Ludovic Itoua. “The tax...
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Chad seals 36 billion FCFA deal with AfDB to mitigate Covid 19 shocks

For Issa DOUBRAGNE, Minister of Economy, Development Planning and International Cooperation, these donations, which are added to the panoply of donations made by the ADB group, testify to the excellence...
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