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NEWS

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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Cameroon’s Budget Director breaks down reformed 2020 Finance law

Among the major innovations of this finance law, as described in the ordinance of the President of the Republic, there is the creation of a special allocation account called "Special...
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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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Public structures in Cameroon witness significant cuts following slashing of State budget

This drop in revenue is due to the drop in tax revenue (-587.353) driven by "Value-added taxes and turnover" (-298,017), "Taxes on specific products and excise duties "(-69,022)," Import duties...
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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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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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Cameroon Custom chief lauds Bollore for contributing to CAMCIS

"Ultimately I am very satisfied, and I would like to thank the Bolloré Group here because when it was a question of finding a partner, a structure to support us,...
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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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African Development Bank secures support funds for CEMAC countries and the DRC

Support for health structures will be provided for the management of cases, particularly severe cases. Support for the resilience of health systems and populations in Chad, the DRC and the...
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Cameroon to lose 300 billion FCFA of petroleum revenue due to Covid 19

"If I take the case of oil, we have made our 2020 finance law on an assumption of a barrel at 54.4 dollars. There we are at less than 30...
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Gabon announces laboratory to accelerate Covid-19 testing

Gabon will commission a new analytical laboratory as part of the fight against Covid-19. Named by President Ali Bongo Ondimba,  after Professor Daniel Gahouma, a “symbol of medical excellence” in...
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