Author: Achille Mbog Pibasso

Enforcement of the foreign exchange regulations adopted by CEMAC in 2018 continues to cringe in business circles in the sub-region. Demonstrations made to the national monetary authorities and the Central Bank have yielded no tangible results. The difficulties encountered by investors are linked in particular to the collection of supporting documents requested by banks from companies on transactions that are supposed to be cleared; obtaining supporting documents from various administrations, the anteriority of certain transfer files already archived; the lack of visibility of companies on the real reasons for blocking certain transfers, even after they have provided all the supporting…

The African Development Bank (AfDB) consolidates its position as one of Cameroon’s main development partners with around thirty active projects. The AfDB group’s portfolio of operations, which stood at around 900 billion CFA francs ($ 1.6 billion) in 2018, currently stands at 1482 billion CFA francs, or $ 2.7 billion. This envelope encompasses thirty-three projects spanning several production sectors, including agriculture, health, education, water, energy, transport and infrastructure. Funding that has contributed to the implementation of the development program, to the recovery of economic growth and to the strengthening of regional integration, according to the Ministry of the Economy, Planning…

Two weeks after the death of President Idriss Déby Itno, the Chadian economy is sluggish, particularly because of restrictions imposed by the ruling military junta. While the country is emerging from the period of national mourning and the war against the rebels is far from reassuring investors, economic operators also worried about social discontent want a normal resumption of economic activities so as not to plunge Chad further into the crisis. recession. The president of the Transitional Military Council (CMT), Mahamat Idriss Déby, met on May 4, 2021, a delegation of Chadian employers and the Chamber of Commerce, Industry, Agriculture,…

The Singaporean firm KiwiPay is conquering the monetics of the Economic and Monetary Community of Central Africa (CEMAC) has just concluded a partnership with the Interbank Monetic Group of Central Africa (GIMAC) in order to extend the payment digital in this part of the continent. Under the terms of the agreement, the goal is “to optimize KiwiGo’s (KiwiPay app) services for financial inclusion and cashless payment solutions for CEMAC customers and businesses.” This agreement offers multiple services to customers and merchants, while connecting them to cashless payment solutions. The arrival of KiwiGo also enables the deployment of WeChat Pay, Google…

A week after the death of President Idriss Déby Itno, it is difficult to predict the immediate future of Chad. The tragic and brutal disappearance of the man who embodied the sovereign institutions over the past thirty years seems to open a Pandora’s box. Admittedly, the country is ruled by the Transitional Military Council (CMT) made up of about fifteen soldiers who give themselves eighteen months to return to constitutional order. A deadline that is far from unanimous in Chad, especially since the constitutional mechanisms in the event of vacancies at the head of power provide that it is the…

The financial holding company BGFIBank is at the head of a banking pool for the sale of the receivables of the company Globeleq Cameroon, a subsidiary of the British development financial institution CDC Group and of the Norwegian development fund Norfund. For the moment, the number of banks involved in this arrangement is not known, even if we know that are concerned, financial institutions operating in the CEMAC zone. This operation concerns more than 83 billion FCFA, approximately 153 million dollars of debts of the company Energy of Cameroon (ENEO), the concessionaire of the electricity service representing the assets of…

The telephone exchange between Presidents Paul Biya and Muhammadu Buhari following the death of their counterpart Idriss Déby Itno calls for a change of strategies in the security system deployed against the terrorist sect Boko Haram. “The disappearance of Marshal of Chad is a huge loss for your country, Central Africa and our continent, which he will have served tirelessly, and for many years”. This excerpt from the message of the Cameroonian head of state Paul Biya following the death of his “eminent Chadian brother” Idriss Déby Itno lets shine in the background, the immense void created in the regional…

A few months after the United Kingdom’s exit from the European Union following Brexit, investors from the United Kingdom are stepping up initiatives with a view to positioning their country among Cameroon’s main economic and trade partners. This is the meaning to be given to the visit of Africa Minister James Duddridge, whose purpose is to review British investments in Cameroon. Prominent among these investors is the British Investment Fund Actis, owner of Energy of Cameroon (ENEO), the country’s electricity utility concessionaire. The latter, through a bank syndication, recently raised 100 billion to strengthen the country’s energy supply, particularly the…

Activa Assurance with the support of the International Finance Corporation (IFC), the World Bank Group (WB) entity dedicated to financing the private sector, is making two new insurance solutions available to Cameroonian female entrepreneurs. objective of covering more than one million women by 2022. This solution makes it possible in particular to save money and carry out business creation projects and health coverage primarily intended for women grouped together in cooperatives. According to its promoters, this program is supported by the Funding Initiative for Women Entrepreneurs (We-Fi) aimed at improving access to finance for women promoters of income-generating activities. “IFC…

The exploitation of the iron deposits attributed to a Chinese firm previously conceded to Australian multinationals at the center of a conflict. At stake, the control of high-grade ores estimated at more than one billion tonnes. The decision of the Congolese government published on March 13, 2021 attributing the management of iron ore to Chinese Sangha Mining Development is making waves. These are mining sites taken over at the end of last year from two mining companies of Australian rights represented by their branches, in this case, Congo Iron and Avima Fer, for “insufficient exploitation and non-payment of the royalties…

Conflicting information is circulating about the introduction into the CEMAC zone of new denominations and new silver coins. In addition to the usual denominations of 500, 1000, 2000, 5000 and 10,000 FCFA, the monetary issuing institution in the sub-region should also market denominations of 2,500 and 25,000 FCFA. What is really happening with regard to the placing on the money market of the sub-region, of new denominations of banknotes? For some time now, the Bank of Central African States (BEAC) has been at the center of the news, with some believing that the current “deadlock” is linked to political reasons…

The Central African Securities Exchange (BVMAC) has just launched a call for applications for the appointment of a new managing director as the regional financial market seeks new life. Can only apply until March 31, 2021, nationals of countries of the Economic and Monetary Community of Central Africa (CEMAC) meeting the criteria set out in the management of high finance published in the press release including Financial Afrik was able to consult. The expected change comes following the interruption of the process of appointing a new managing director launched in 2020 by the Bank of Central African States (BEAC) in…

The commissioning of the first phase of the Alén Gas Hub-Backfill project intended for the treatment of gas at Punta Europa by Noble Energy EG Ltd, a subsidiary of the American group Chevron, should generate over 4.5 million euros for the entire project. dollars over the next seven years. The construction of a 70 km (43.5 mile) pipeline with a capacity of 950 million cubic feet of natural gas equivalent per day (MMcfe / d) at a cost of $ 475 million allows gas from the Campo Alén located in the Douala basin is treated in existing facilities maximizing the…

The path leading to the merger between the Economic Community of Central African States (ECCAS) and the Economic and Monetary Community of Central Africa (CEMAC) to comply with the spirit and letter of the Union African (AU) which advocates the existence of a single grouping per region is still long. Regional integration in Central Africa remains dominated by the lack of real political will from leaders to achieve the creation of a single institution. However, this institutional bipolarization has shown its limits because it undoubtedly constitutes a brake on development. In all likelihood, even the entry into force on January…