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Cameroon: Louis Paul Motaze, the Minister of Planning and Regional Development shall organize an economic forum at the GICAM in Douala. 

 

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Rita Akana

20.Feb.2018

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This year, the general directorate of treasury, monetary and financial cooperation of Cameroon’s ministry of finance will continue the identification and closure of public administrations’ bank accounts opened in commercial banks.

This measure mentioned in the general report of the central and external services of the ministry of finance’s annual conference, held in Yaoundé, will contribute to the single treasury account’s consolidation. 

According to public authorities, this account will allow transparency and an efficient management of public revenues by centralizing them. At the ministry of finance, it is said that this account will also help end the bad practices of some public officials. Indeed, it is said that these public officials do not hesitate to invest with the public funds in commercial bank accounts.  

Incidentally, this measure will once again weaken those financial institutions, large fund providers for government and its institutions, which have been confronted with liquidity issues for some time now.   

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Rita Akana

20.Feb.2018

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For some days now, many televisions have been continually broadcasting a message from Camair-Co, informing Cameroonians that the public airline company transported 235,686 passengers in 2017. Compared to the numbers of travelers in 2016, this represents an increase of 94%. 

The company explained that this performance was due to numerous efforts they made in 2017. First, they acquired five new planes, a 767-300 (le Dja), two new generation 737-700 and two MA-60. Then, they covered more regions in Cameroon (it now flies to 8 out of the 10 regions in the country) by increasing the frequency of weekly flights from 70 to 100.

Finally, since October 27, 2017, the company has been conquering the African sky. It now flies to Dakar (Senegal), Abidjan (Côte d’Ivoire), N’djamena (Chad) and Bangui (Central Africa). Thanks to these investments, the company was able to reduce its monthly deficit from CFA2 billion to CFA62 million between 2016 and 2017.

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Rita Akana

20.Feb.2018

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The Director General of Customs have presented a positive balance sheet for 2017. Observed as highly positive by Fongoh Edwin Nuvaga, the Director General of Cameroon Customs. According to him, the custom's department saw an increment of 53.3 bullion francs as compared to that of 2016.

This according to the the Management of Customs, makes Cameroon Customs one of the most performing Custom's department in the Central African Sub Region according to the International Monetary Fund. This was revealed during the triennial observatory tours by the IMF in Cameroon. Haven realized 101 % of their previewed budget and a progression of 8% in relation of the previous returns of 2017. 

This realization of this dream has been achieved thanks to the new vision of the Director General of Customs, Fongoh Edwin Nuvala. It's equally thanks to the social security and harmonious working climate heightened by social odialogue. Operating in a win-win scenario, completion has been heightened in order to catch up targets.

This achievement has as well been contributed by the contributions of Brasseries Du Cameroun SA, represented by its Director,Emmanuel De Tailly. This was during the 10th Cameroon Custom's Gala Night. Alamine Ousmane Mey, the Minister og Finance was so over joyed with the fall outs of the Custom's department and its partners.

He called for more effective and efficient management for more efficiency as well as effectiveness. In order to achieve this dream, he called for the fifth enterprise to join this collaboration and partnership. This hopefully will facilitate the realization of the 800 Billion francs previewed as the target for the Cameroon's Custom's department. 

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Rita Akana

16.Feb.2018

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On February 14, 2018, seventeen companies operating in Cameroon received certificates which allow them to export 174 products within CEMAC without paying customs duties. These certificates were delivered by Cameroon’s ministry of commerce because those companies were declared eligible to CEMAC’s preferential tariff regime.  At the ministry of commerce, it is said that in the last four years, 568 products manufactured by 71 companies operating in the country were eligible for this regime which grants access to this market of 45 million consumers. Let’s note that to be eligible for this regime, companies must respect a certain quota during their industrial production. For instance, the product manufactured must be made with at least 40% of local raw materials. This requirement, coupled with the opportunity that the preferential regime represents for companies operating within CEMAC, explains the race for local raw materials observed with some large companies operating in Cameroon.

 

BRM

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Rita Akana

16.Feb.2018

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On February 10, 2018, during the traditional speech for the eve of the Youth day which is celebrated every February 11, Paul Biya declared that 473, 303 jobs were created for the youth as at December 31, 2017. “It is better than the four hundred thousand target that we set but we are aware that it will take more than that to reduce unemployment”, he said.

According to him, the government’s choice to teach practical and technical skills has started to yield results by favoring entrepreneurship and the socio-economic integration of youth. Compared to the figures presented to the deputies by the prime minister in November 2017, this represents an increase by 75,257 since the minister said that 398,046 jobs were created in the period under review.

“This was achieved thanks to the different opportunities provided by the civil service, defense and security forces, the decentralized territorial units, the implementation of the three-year emergency plan to accelerate economic growth, governmental projects and programs and labor tracking in major construction projects such as the sites for AFCON 2019”, the minister explained.

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Rita Akana

13.Feb.2018

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