Douala Port’s Net Profit Fell By 50% In 2017

During the 2017 fiscal year, Douala autonomous port realized a net benefit of CFA455.5 million. This was announced in a statement published after a meeting of the administrative board on May 24, 2018.

Compared to the CFA940.5 million realized in the previous fiscal year, this represents a drop by about 50%. According to the port’s director Cyrus Ngo’o, this is due to the economic environment and to the lack of fluidity inside the port.

Indeed, on May 28, 2018, the director revealed that the port was initially built to handle about 7 million tons of goods but nowadays, it handles more than 11 million tons annualy.

Meanwhile since it was built, in 1980, there has not been any major investment to increase its capacity.

To boost the port’s performance, Cyrus Ngo’o announces an ambitious investment program this year, to fluidify the traffic.

In the framework of that programme, the port authorities will remove shipwrecks from the dock of the fishing port, acquire a new 3,000 cubic meters dredge and renovate the dredge Chantal Biya.

They will also increase the port capacity by building a 750 meter dock at Bonaberi and a dolphin for oil ships.

41 thoughts on “Douala Port’s Net Profit Fell By 50% In 2017

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  33. One of the core reasons financial regulation exists is to protect non-experts. It is actually not good for society and the economy when regular people lose all their savings. Usually, there are very little and only rather obvious scams for regular people to “invest” their money outside the protection of regulation. The accomplishment of the crapcoin industry undoubtedly is that they managed to scale up their scam so fast that regulation did not catch up to them before they began cashing out massively and falling left and right. Of course, laws on fraud may and will still get some of them, but that is far too late for those non-expert “investors” that were arrogant enough to think they understood what they were “investing” in. If a country mortgages itself to pay for a war, gets its working population slaughtered, its infrastructure destroyed, what’s left of its industry forfeit, and is then saddled with a war debt that is unpayable, people are *totally* going to be falling over themselves to trade useful things for your digital token.
    Hougan said this also explains why trading volume for regulated bitcoin futures has seemed weak. Chicago-based CME and Cboe began listing bitcoin derivatives at the end of 2017 but have had much lower volumes than the $6 billion reported by unregulated exchanges. According to the report, there is no genuine method of calculating bitcoin daily volume, “even among the industry’s most reputable research firms”. The role of trading volume in the crypto market is immense, as it helps determine market trends. When there is a fluctuation in the price of an asset along with a higher volume, it could be a sign of a strong trend. Conversely, when a price fluctuation triggers a low trading volume, it is usually a sign of a weak trend. But with every regulatory crackdown comes opportunity, especially for regions abroad. The big question on everyone’s mind is whether Europe or APAC can replace some of the fiat payment rails that have been dismantled in the U.S. Looking at the market share of fiat-denominated trades on exchanges, we can observe that overall, the dollar is still dominant with 47% market share.

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