Author: Achille Mbog Pibasso

Three years after its launch, the Economic and Financial Reform Program of the Commission of Central African States (PREF-CEMAC) has a mixed record, with a completion rate of 62%. By Achille Mbog Pibasso Is the Economic and Monetary Community of Central Africa (CEMAC) condemned to lag behind? Without being a fatality, everything suggests that the successes in this part of the continent are an exception. This is evidenced by the fact that economic and financial reforms, which could have been completed to date, are barely 3 / 5ths of their achievements. Focusing on three main pillars, namely the reinforcement of…

The identification process imposed by the authorities resulted in the deactivation of hundreds of subscribers, increasing the number from 90% in 2017 to 76% in 2018. By Achille Mbog Pibasso The number of mobile phone subscribers has decreased in recent months, following the identification campaign that led operators to disable subscribers who were not in compliance with the regulations in force. On the basis of the updated figures, more than nineteen million Cameroonians out of an estimated total population of twenty-five million inhabitants are currently subscribing to the mobile phone. A decline of almost three million people compared to figures…

Insurance companies sensitized on the need to promote the digitization of services to increase their efficiency. By Achille Mbog Pibasso The Inter African Federation of Insurance Consultants (FIAC) invites brokers from the fourteen member countries of the Inter African Conference of Insurance Markets (CIMA) to make a digital leap to boost their activities. It is on this basis that an agreement was signed in February 2019 in Cotonou, Benin, between the FIAC and the African Start Up Klapeers. According to the terms of the agreement, the latter’s mission is to design a digital brokerage platform for the online management of…

The Banking Group has issued a statement in which it reassures its clients on the compliance of the accounting operations of the Gabonese subsidiary. By Achille Mbog Pibasso BGFIBank said Monday in a statement that Financial Afrk has obtained a copy, that the accounting operations of the entire Group in general and those of the Gabonese subsidiary in particular are consistent with the managerial orthodoxy in this area, rejecting block, information on the “mysterious disappearance” of 1.5 billion FCFA alleged by a customer. A news that pushed the banking group out of its reserve, stating in particular that “following the…

The continental financial institution invites the Cameroonian business community to seize financing opportunities it offers to promote their activities and promote the diversification of the country’s economic fabric. By Achille Mbog Pibasso The African Development Bank (AfDB) has signaled its readiness to increase its support to the Cameroonian private sector promising to raise its financing, estimated at 15 billion CFA francs. This is the main resolution at the end of the exchange days on the promotion and financing of the sector as part of the implementation of the AfDB strategy. The said meetings held in Douala, the economic metropolis of…

The first banking group within the Economic and Monetary Community of Central Africa (CEMAC) intends to reinforce its leadership in the subregion, by multiplying value-added activities. It is in this wake that the organization falls on March 27, 2019, the first edition of the day of the digitalization of services to the general public whose purpose is to expand its customer base. A first of its kind initiated in partnership with BGFI Services and the SOPRA Banking Software group which saw the participation of the communication and marketing managers, IT managers and compliance officers of the BGFIBank Group. Speaking on…

Crude oil from the Komé production center in southern Chad and transiting on a pipeline of about 1500 km in Cameroon to the oil terminal of the port of Kribi, has evolved in 2018. A good deal for Cameroon since the right of transit due to the Chad-Cameroon pipeline yielded 30 billion FCFA in state coffers, against 27 billion FCFA the previous year, said the National Hydrocarbons Company (SNH), this public company being the secular arm of the state in oil transactions. The Pipeline Steering and Monitoring Committee (CPSP) states in its note that this amount represents 40.5 million barrels…

The technical, commercial and financial management of the Ndjamena-Adré optical fiber network has been entrusted to SUDATCHAD. Meeting in Council of Ministers on March 26, 2019, the Chadian government endorsed this choice. A decision that gives the opportunity to this company the right to deploy for the installation of optical fiber across the country, supporting the draft decree relating thereto, approving the concession agreement signed on August 28, 2018 between the two parts. The government explained that the draft decree “is in line with the broad program launched by the Ministry for the implementation of broadband fiber optic infrastructure to…

The general management of the Autonomous Port of Douala (PAD) has just launched a call for limited international consultation for the renovation, modernization, operation and maintenance of the container terminal at the port of Douala-Bonabéri. This call concerns the five companies shortlisted under an International Call for Expressions of Interest (AIMI) launched in January 2018. This is the list that should be the consortium to replace the consortium Bolloré-APM Terminals through its subsidiary local, the Douala International Terminal (DIT) which manages this infrastructure since 2005 and whose fifteen years of concession end this year. These are CMA Terminals, based in…

The tenth edition of the Cameroon Business Forum (CBF) will take place on March 18, 2019 in Douala, in a difficult economic environment where the government is struggling to respect its own timetable for the economic emergence projected in 2035. Economic and financial gratin, investors from all sides will meet again next week in the Cameroonian economic metropolis, as part of their annual meeting dedicated to development issues. The event, which aims beyond improving the business climate, strengthening the Public-Private Partnership (PPP) will be under the leadership of Prime Minister Joseph Dion Ngute. On the theme “Emergence and development of…

The United Nations expressed its appreciation of the state of play in demarcating the border between the two countries. The installation of the last terminal to definitively demarcate a long border of more than 2000 kilometers between Nigeria and Cameroon may not be for tomorrow, mainly because of security issues related to the activities of the Nigerian terrorist sect Boko Haram the reduction of military capacity is far from curbing its capacity for harm. However, in view of the progress of the demarcation process, the United Nations (UN) has not failed to express its satisfaction with the demarcation of the…

The International Monetary Fund (IMF) requires the Gabonese authorities to sell the shares of the State in the International Bank for Trade and Industry of Gabon (BICIG), a former subsidiary of BNP Paribas, announced Tuesday, the Bretton Woods institution in its latest review of the Extended Credit Facility Agreement between the two parties. “We must quickly sell the non-strategic stake in BICIG, the third Gabonese bank,” reports the Fund in its report on the third review of the agreement. To justify this option, the IMF says that the state is acquiring a new banking institution on the market whose name…

The Central African Economic and Monetary Community (CEMAC) Supervisory Board points out in its report that the economies of the subregion will be better off in the next two years. It is not yet sustainable and inclusive growth to reduce poverty or create jobs for the largest number of inhabitants in the subregional economic space as sought by the six countries of CEMAC last where the economic situation is overall contrasted. However, after a severe economic recession in recent years, we are seeing an improvement in local economies, with a projected growth rate of 3% in 2019 by the Bank…

Operational since last year, the port of Kribi has had a significant commercial activity during the first twelve months of operation. While it is true that the port of Douala remains the one where trade remains the highest, with more than 12 million of the volume of goods last year, the port of Kribi which welcomed its first commercial vessel on March 2, 2018 of the way, as one of the main port platforms of the country. According to the General Directorate of the Autonomous Port of Kribi (PAK), the volume of goods destined for import and export processed at…

The year 2018 ended on a positive note marked notably by a strong growth in the 4th quarter of the year, MTN Cameroon having recorded an 11.7% growth of its subscribers’ pool which was close to 8 millions of subscribers as of December 31, 2018. On the basis of this document, MTN Cameroon also achieved a sustained performance on new sources of revenue, including a sharp increase in revenue generated by Data and an exceptional growth of 170.2% in income generated by the Mobile Money whose number of subscribers is consolidating to nearly 5 million at 31 December 2018. Admittedly,…

The country’s biggest employer after the state is facing real difficulties that could cause bankruptcy for this company that pays the costs of tense sociopolitical situation in the English-speaking regions of the country. By Achille Mbog Pibasso The Camroondevelopment Corporation (CDC), located mainly in the southwestern region, which is experiencing secessionist violence with the northwest, the other English-speaking region of the country, is in bad shape, very bad even. Two years after the outbreak of this social crisis, the agro-industrial behemoth is no longer the jewel of the Cameroonian economy that it has always been. And for good reason, business…

Equatorial Guinea is preparing to host the annual meetings of the African Development Bank from June 11 to 14 in Malabo. By Achille Mbog Pibasso After India and South Korea, which hosted the African Development Bank Group (ADB) General Assemblies for the past two years, the event is returning to the continent this year. In three months, in June 2019, Malabo, the capital of Equatorial Guinea, will be the epicenter of African finance, on the occasion of the ADB’s Annual Meetings. As a prelude to this event, Equatorial Guinea and the Continental Bank signed a Memorandum of Understanding that sets…

An agreement links the Chinese digital technology giant to the National Social Insurance Fund (CNPS) allowing this public company to improve its services, especially to retirees. In late February, technology giants found themselves in Barcelona, ​​Spain, as part of the mobile show. Opportunity for the Chinese firm Huawei to launch a plea for digital inclusion, especially in the countries of the South, still lagging behind. Huawei Vice President Ken Hu unveiled a new digital inclusion initiative, Tech4ALL, a project to help 500 million more people around the world benefit directly from digital technology next five years. According to this boss…

A loan of 16.3 billion FCFA in Cameroon for the realization of a hydrometric project. The World Bank (WB) has granted a loan of 16.3 billion CFA francs to Cameroon for the financing of the Sanaga River Hydroelectric Development Technical Assistance Project. Financial assistance following a decree by the President of the Republic Paul Biya, empowering the Minister of Economy, Planning and Spatial Planning to sign with the International Development Association (IDA), a subsidiary of the Bank world, a credit agreement in this direction. Financial resources to cover the three main components. Component 1 is reserved for the financing of…

The general management of the Stabilization and Equalization Caisses (CAISTAB) has just put in place a system of geolocation and controls to fight effectively against the fraud of petroleum products. The Gabonese authorities have opted to strengthen the control measures to fight against the fraud in the matter of petroleum products which causes substantial revenue to be lost in the state coffers. In an effort to maximize revenue in the public purse, the General Directorate of Stabilization and Equalization Funds has set its sights on a system of geolocation and controls. A few months after the establishment of this governance…

The Cameroonian subsidiary of the French group Société Générale has seen a sharp increase in net banking income (GNP) in the year just ending. The year 2018 has been a good year for Société Générale du Cameroun (SGC). The performances now place it among the top five subsidiaries of the group across the continent. On the basis of the activity report made public in February 2019 by the general management of this company, it appears that net banking income (net banking income) for the year ending is 104 million euros, or approximately 67 , 9 billion FCFA. An increase of…