Friday 15 December 2017
(Agence Ecofin 12/12/17)
If the operators of the radio installations, at Mount Mbankolo which towers Cameroon’s Capital, do not comply with the regulation, the ministry of posts and telecommunication will remove their installations and make them pay for the removal. This warning is in the communique published by Minette Libom Li Likeng, the minister of post and telecommunication, who revealed that some installations are exploited without complying with the standards in place. Such is the case of some illegal operators who operate without a license from the ministry or who use unregistered equipment installed by experts that are not accredited by the government in opposition to what the regulation prescribes. BRM
(Agence Ecofin 12/12/17)
On December 8, 2018, Cameroon’s national assembly has approved the 2018 finance bill of CFA4513.5 billion submitted by the government. Approved, despite the critics of some deputies of the opposition, the new budget has increased by CFA139.7 billion (3.2%), compared to 2017 budget which was CFA4378.8 billion. Leaning on a 4.2% provisional economic growth, the budget projects an increase of the fiscal pressure on companies with an increase of some duties and taxes amid a drop in oil revenues. BRM
(Reuters (Eng) 11/14/17)
KIGALI (Reuters) - The global airline industry has $1.2 billion blocked in nine dollar-strapped African countries, the International Air Transport Association (IATA) said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. Low oil and mineral prices have reduced government revenue and caused chronic dollar shortages and immense pressure on local currencies. The fiscal slump has meant governments have not allowed foreign airlines to...
(Reuters (Eng) 10/31/17)
HARARE (Reuters) - Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South African are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the tenure of their leaders. The IMF said a...
(AFP (eng) 10/18/17)
Rent-a-room giant Airbnb said Tuesday that it had provided accommodation for 1.2 million visitors to Africa over the last year -- double the previous year as tourism expands across the continent. The website now offers more than 100,000 accommodation options in Africa, global public affairs director Chris Lehane said on a visit to Johannesburg. "It's an incredibly rich and diverse continent, an incredibly dynamic place, certainly a big part of our future," Lehane told AFP. Airbnb was founded in 2008...
(APA 10/16/17)
APA – Douala (Cameroon) - Financial transactions in Cameroon via Mobile money reached 870 billion CFA francs in 2016, APA learned from the Telecommunications Regulatory Agency (ART) on Sunday. The value of transactions between 2014 and 2016 increased from 200 billion CFA to 870 billion CFA, an increase of 670 billion CFA in two years. This amount is the result of 84 million transactions per SMS, because since 2011, the year of introduction of Mobile Money Services in Cameroon, e-money...
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive...
(APA 10/12/17)
APA - Douala, Cameroon - The difficult socio-political situation in the English-speaking regions of the Northwest and Southwest of Cameroon has caused loss of more than 41 percent of the turnover of companies located in this part of the country, according to data published Wednesday by the Chamber of Commerce, Industry, Mines and Crafts (CCIMA). The statistics compiled by the consular chamber published a year after October 10, 2016 general strike by English-speaking lawyers and teachers demanding better consideration of...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria...
(APA 10/09/17)
APA - Douala (Cameroon) - A total of 15,219 companies were created in 2016 in Cameroon, according to figures compiled by the Ministry of Small and Medium Enterprises, Social Economy and Crafts (MINPEESA), published on Saturday. The statistical yearbook of this public administration says 15,219 small and medium-sized enterprises (SMEs) created during the past year, represented an additional 1,845 SMEs compared to 2015. In 2010, there were barely 712 new SMEs registered at the Center for Business Creation, a progress following the simplification of procedures and the creation of bodies to facilitate the creation of companies.
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(APA 10/04/17)
APA-Douala (Cameroon) - The European Union (EU) has pledged fCFA 12 billion to Cameroon to help the country cope with the flow of Central African and Nigerian refugees, particularly in the face of clashes and terrorist attacks from Boko Haram, sources told APA Tuesday. This will enable Cameroon to manage more than 300,000 refugees from the two neighbouring countries, staying in camps in the northern part and eastern region. The fund will be used mainly for food, water, sanitation, health, education, housing for the refugees. Due to Boko Haram attacks, thousands of Nigerian refugees have fled to the Adamaoua...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(APA 09/25/17)
Eximbank of China has approved a CFAF50 billion loan to Cameroon to fund drinking water supply projects throughout the country, reports said on Monday. The agreement was struck by the ministry of Economy, Planning and Regional Development (MINEPAT) and China’s economic and technical cooperation for the funding of the second phase of the project, covering nine urban centers. Running from 2018 through 2021, the second phase covers the towns of Dschang in the western region, Yabassi (Littoral), Maroua (Far North),...
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(APA 09/21/17)
APA-Douala (Cameroon) - Rehabilitation of the Douala-Yaoundé road linking the main economic and political metropolitan areas of Cameroon requires an investment of 47 billion CFA. This will allow replacing the metal nozzles with concrete scuppers, the Ministry of Public Works (MINTP) said Thursday. According to a study by the Directorate of Infrastructure Works (DGTI) at the Ministry of Public Works, 309 nozzles should be replaced to stop the gradual deterioration of the road. “Traffic on this road has increased considerably...
(APA 09/18/17)
APA – Douala (Cameroon) - Cameroon plans to double its revenue from tourism from CFAF 560 billion to CFAF 1000 billion in 2017, according to forecasts published by the Ministry of Tourism and Leisure (MINTOUL). In view of this, the country expects one million tourists with a total return of more than CFA1,000 billion, which will almost double revenues Cameroon earned last year. According to MINTOUL forecasts, one million tourists is equivalent to about CFA 75 billion in terms of...
(APA 09/18/17)
APA – Douala (Cameroon) - Cameroon plans to double its revenue from tourism from CFAF 560 billion to CFAF 1000 billion in 2017, according to forecasts published by the Ministry of Tourism and Leisure (MINTOUL). In view of this, the country expects one million tourists with a total return of more than CFA1,000 billion, which will almost double revenues Cameroon earned last year. According to MINTOUL forecasts, one million tourists is equivalent to about CFA 75 billion in terms of...

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