ECONOMY

Fahad Obaid Mohammad Al Taffaq, UAE Ambassador to Nigeria and Non-Resident Ambassador to the Republic of Cameroon, has held meetings with a number of officials and businessmen in Cameroon, and discussed ways to strengthen cooperation with the Central African country in all fields. Al Taffaq visited the capital city Yaounde, …

Cameroon Telecommunications (CAMTEL), the state-owned telecommunications operator, plans to deploy over 15,000 kilometers of optical fiber to improve the quality of communication in the country, reports said on Thursday. This public company, of which, a recent decree by President Paul Biya announces the opening to private shareholders, holds the monopoly …

Brewers in Cameroon sold a total of 6,500,000 hl (650 million liters), free beer excluded and trade included, as at December 31, 2018, according to data provided by Société Anonyme des Brasseries du Cameroun (SABC). These figures remain approximatively stable compared to sales the previous year, but are slightly 0.4% …

Information technologies are changing the lives of many Cameroonian farmers who previously were dependent on brokers who charged fees to serve as middlemen to purchasers. Now they can use the Internet to find customers more easily and increase their income. Farmer Loic Domguia sells almost all of his produce online …

The United Nations Conference on Trade and Development (UNCTAD) has recently issued a report on the potential impact of a no-deal Brexit on the UK’s trading partners, including developing nations. Implication Research found that in the event of a no-deal Brexit, meaning if the UK did not reach an agreement …

Cameroon’s power utility Eneo wants to make up for delay in VAT suppression on electricity bills. 80% of its 1.2 million customers should have seen their electricity bills fall since January 2019 as provided for in the 2019 Finance Act. Monthly consumption between 0 and 220 KW will now be …

EU imports from Cameroon have been extremely volatile in recent times, with the overall trend downward. However, there was a slight uptick in imports from Cameroon at the start of 2019,” according to the ITTO Tropical Timber Market (TTM) Report issued May 15. In fact, there is a growing demand for …

DSX-listed Société des eaux minérales du Cameroun (Semc), subsidiary of brewer SABC, will not be shut down. This is the outcome of a shareholders’ meeting held on May 15 in Douala. “In accordance with the provisions of Article 664 of the Uniform Act on the Law of Commercial Companies and …

The Ecobank Group has just published its financial report which provides data on Africa’s place in global financial flows during 2018. The document shows intra-African remittances represent 20% ($12.8 billion or XAF7,491.9 billion) of global financial flows during the period under review. With $2.15 billion (XAF1,258.4 billion), Cameroon was the first …

Since 2010, Cameroon has been very active on the money market. According data compiled by the finance department, the nation raised a total of XAF2,616.3 billion on the market through national, regional and international fundraisings. Over the period reviewed, the top fund provider was the public securities market of the …