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The Cameroonian government has just made available to the populations of the Mfoundi department (Central region), whose properties were on the outline of the Yaoundé-Nsimalen motorway, an envelope of FCfa 810 million as compensations. “The government has chosen to gradually make payments, depending on the availability of funds but also the progress of the work”, the Mfoundi Prefect, Jean Claude Tsila, specified.

The Yaoundé-Nsimalen motorway, which will stretch over 20 km between the centre of the capital and the Yaoundé-Nsimalen international airport, will cross three departments in the Central region. Only the populations of the Mfoundi department, where the capital is located, remain to be compensated.

The launch of the payments for the compensations of the Mfoundi populations to be expropriated as part of the above-mentioned motorway project, comes only a few weeks after the imprisonment, in two stages, of about twenty people who managed the compensations file of the populations living on the site hosting the deep water port of Kribi.

They are accused of having falsified the list of people to be compensated as part of this infrastructure project. Indeed, at the moment of paying the compensations, several people stepped up to denounced the presence in said lists of unknown people, when many of the true local residents were forgotten.

BRM

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Rita Akana

24.Jun.2016

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Nigerian billionnaire and Africa’s richest person, Aliko Dangote’s fortune fell $3.7 billion knocking him to No. 71 on the Bloomberg ranking, down from No. 46 on Friday.

Dangote fell 25 places on the Bloomberg Billionaires index on Monday as the naira tumbled on its first day of trading without a peg to the US dollar.

Majority of Dangote’s $12.7 billion fortune is derived from a 91 percent stake in Dangote cement PLC which shed 2 percent in trading on Monday.

The central bank had began auctioning dollars to limit the currency’s decline.

The bank had been using capital controls to stem an outflow of dollars after the naira crashed in February 2015 when oil prices slumped.

Dangote’s slide came as equity markets worldwide surged on the hopes that British voters would choose to remain in the European Union.

The second biggest drop in the latest ranking belongs to US casino billionaire Sheldon Adelson whose Las Vegas Sands fell 5.6 percent along with other gambling stocks.

This comes after reports that revenue was trending downward. Adelson, who lost $1.1 billion on Monday, is the world’s 29th richest person with $23.3 billion.

Press Agency

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Press Agency

22.Jun.2016

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The company carrying out construction works on the East entrance of Douala has assured authorities that the road will be opened to traffic in a month.
The assurance was given to the Minister of Public Works, Emmanuel Nganou Djoumessi by the engineers of the road construction company during an inspection visit of the project.

Beside inspecting pace of work on the East entrance of Douala, Minister Emmanuel Nganou Djoumessi took the pulse of construction works on the second bridge over the Wouri River.
He expressed satisfaction with the pace of work on the second bridge that is expected to ease traffic flow in d economic capital.
The Minister told pressmen in Douala that resources have been mobilised to start work on the West entrance of Douala.

He said funds have already been made available to pay indemnities to the population whose property were on the path of the road and will be destroyed while constructing the road.
Other network operators are equally redirecting their lines from the path to permit construction companies to engage the construction process.

CRTV

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Rita Akana

22.Jun.2016

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The dateline is fast approaching for mobile operators to deactivate all unregistered mobile SIM cards in their database, in accordance with an injunction from the Ministry of Posts and Telecoms. To avoid enacting this extreme measure, which will mean  a reduction in the total subscriber base, mobile operators are using every method available to motivate their subscribers to register prior to the deadline.

In addition to deploying hundreds of agents to carry out the registration in the cities of the country, the installation of registration centres in the areas with high population density, mobile operators, for example, now offer free credit to subscribers who actually register.

Thus, immediately after leaving the store where they were registered, a mobile subscriber will receive up to FCfa 10,000 in communication credit. This credit is valid for 24 hours, and is generally only used on the mobile operator’s own network.

As a reminder, over the 2014-2015 period, mobile operators in Cameroon had to suspend approximately 6 million chips deemed “suspicious”, according to the Telecommunications Regulatory Agency (ART).

BIC

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Rita Akana

22.Jun.2016

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We have gathered on good authority, plans are afoot for maintenance works to kick- start along the less than 80km stretch of road linking Wum ,chief town of Menchum division to Bamenda, regional capital, north west region Cameroon.

Since January, Bamenda-Wum road has been an eyesore.

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Rita Akana

21.Jun.2016

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Chairman of Ecobank, has told Reuters that the pan-African bank could pull out of some African countries as part of reviewing its expansion strategy, with decisions expected to be taken in months.

According to Emmanuel Ikazoboh, who is chairman of parent company Ecobank Transnational Incorporated (ETI), the move has been made necessary after a decline in profits, hence the decision to focus on its most promising markets.

“The business model whereby we are just expanding and posting our flags (in different countries) has to be reconsidered,” Ikazoboh said in an interview on Friday after the bank’s annual shareholder meeting at its headquarters in Lome.

Ikazoboh further disclosed that Ecobank was dividing its operations into three “pockets” according to their potential, ETI had $22.5 billion of assets in 2013 and employs over 20,000 people.

Ecobank’s biggest operation is in Nigeria where the bank wants to increase market share. It also sees Kenya as its pivotal market in East Africa and hopes to take advantage of Rwanda’s rapid economic growth, spokesman Richard Uku said.

“In the last ‘pocket’ (of least promising countries) we really want to take a decision as to whether we continue to operate in those markets,” said Ikazoboh.

The bank is based in Togo and operates in 36 other African countries, making it a rare example of a pan-African bank that has developed outside South Africa, home to giants such as Standard Bank and FirstRand.

The bank has however been affected by the falling global commodity prices that have hit economies in especially, Nigeria and Ghana, causing revenue to slow, profits to fall and triggered a shift in approach.

Facts from Ecobank’s annual shareholders meeting

• Ecobank’s pretax profit was $205 million in 2015
• Drastically down from $520 million in 2014
• CEO Ade Ayeyemi described pretax profits as “unquestionably disappointing”.
• The bank said in April it expected flat loan growth and revenue this year.
• Ecobank would pay a dividend of $48.2 million

Reuters

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Rita Akana

20.Jun.2016

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