Alain Nkontchou, CEO Enko Capital Harvest Asset Management and Enko Capital led respectively by Cameroonians Marc Kamgaing and the Nkontchou brothers have been retained by the Bank of Central African States BEAC to manage part of the funds of the Staff Retirement Plan (CRBC). Harvest will deal with investments in the CEMAC zone, while Enko...
The IMF Executive Board has approved immediate debt service relief to 19 African states (IMF’s member countries) under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic. Though all CEMAC countries are facing economic shocks emanating from the virus, only...
To carry out an economic transaction in Cameroon, you must now have a unique identifier number (NIU), also called the taxpayer number. These are the requirements of the 2020 finance law, confirmed by the press release from the Director General of Taxes, Modeste Mopa Fatoing. The taxpayer number is a number assigned to a natural...
Cameroon has raised 71 billion FCFA at the end of a 5-year fungible Treasury bonds issuance (T-bonds) operation on April 8, 2020. Investors we are told offered up to 75 billion FCFA but, considering the conditions in the money market, the country decided to keep 71 billion FCFA at an interest rate of 5.7%. The...
The economic situation in the Republic of Congo will be a challenge for the Bank of Central African States (BEAC) in 2020, in the light of the latest analysis provided by S&P Global Ratings. According to this rating agency, the CEMAC zone country should experience a recession this year, difficulties in honoring its payment commitments...
Before the nation’s elected officials on Wednesday, Firmin Ngrebada, Prime Minister of the Central African Republic, announced that the country is counting on a budget for a response plan against coronavirus disease estimated at 133,486,544,990 FCFA Prime Minister Firmin Ngrebada met with the Presidents of Commissions of the National Assembly. The Members of Parliament wanted...
Under the Rapid Financing Instrument (IFR) established by the International Monetary Fund (IMF) to mitigate the effects of the Covid-19 pandemic on the economies of member countries, the Bretton Woods institution approved the disbursement about 147 million dollars, (about 88 billion FCFA) for Gabon. The IMF has approved the disbursement of approximately $ 147 million,...
Investors active in the public securities market of the Bank of Central African States have been invited to subscribe to an issue of assimilable Treasury Bonds. (OTA) of the Cameroon Government. Through this operation on OTAs with 5 years of maturity, paid at 5.7%, the Cameroonian Treasury hopes to be able to mobilize an envelope...
The Bank of Central African States BEAC has begun injecting a 250 billion FCFA liquidity into the banking system of the CEMAC sub-region.This means that, banks in the zone will use the funds to keep them float on the economic huddles provoked by the Coronavirus. The move is the second in two weeks which constitutes...
