The Public Investment Budget (BIP) in Cameroon was executed at 74.56% in 2021, according to the National Committee for Monitoring the Physical and Financial Execution of Public Investment. Compared to 2021, when the rate was 74.99%, this makes a decline of 0.43 pts. While the execution stagnates, the commitment (contracting) rate for these projects has […]
The Chad-backed meeting of Cameroon Oil Transportation Company (COTCO) in Paris in late May contravened regulations, according to a letter from Cameroon’s Société Nationale des Hydrocarbures (SNH). In order to make it right, Chad must take a number of steps – including transferring equity in COTCO to Cameroon. The SNH letter, signed by Chairman Adolphe […]
Pope Francis was said to be awake and cheerful Wednesday after undergoing a three-hour hernia operation which has revived concerns over the 86-year-old’s increasingly fragile health. The Argentine pontiff had been admitted earlier in the day to the Gemelli hospital in Rome, where he is expected to stay for several days. “The Holy Father reacted […]
Cameroonian credit institution CCA-Bank announced it has entered negotiations with the International Finance Corporation to obtain $5 million (about CFA3 billion) in financing. The success of this process will allow the beneficiary to strengthen and develop its trade finance operation throughout the country. CCA-Bank will use the 6-month loan to further diversify its offering to […]
Cameroon will begin construction in August of a railway line connecting its coast to a large iron ore deposit straddling its border with Congo Republic, the interim mines minister said. The central African country signed a deal with two China-linked companies in June 2021 to construct the railway, despite facing legal action from Australia’s Sundance […]
Republican former New Jersey Gov. Chris Christie kicked off his presidential campaign Tuesday evening, promising to be the only candidate in a crowded GOP primary field willing to directly take on former President Donald Trump. Former New Jersey Governor Chris Christie formally launched his bid for the Republican nomination for president on Tuesday, June 6, […]
Rwandan President Paul Kagame has embarked on a major shakeup of the country’s military, with a round of dismissals announced Wednesday after the appointment of a new defence minister, army chief and head of internal security. Army spokesman Ronald Rvivanga told local media that two long-serving generals, Major General Aloys Muganga and Brigadier General Francis […]
The port of Douala ended FY2022 with a net profit of CFA16 billion, the Port Authority revealed. Total assets and liabilities reached CFA410 billion, with a turnover of CFA131 billion, we learned. In its press release issued this week, PAD also reported it has paid over CFA11 billion in taxes over the period, with a […]
A European spy agency told the CIA it knew of a Ukraine special operations team plan to blow up the Nord Stream gas pipeline three months before explosions damaged the undersea system last year, the Washington Post reported Tuesday. The newspaper cited US intelligence allegedly leaked earlier this year by a low-level US Air National […]
90-year-old President Biya has received six new ambassadors at the Unity Palace in Yaoundé. The Monday 5th June 2023 ceremony involved heads of diplomatic missions who came to present their credentials to the Cameroonian dictator. Among the six who performed the diplomatic ritual were Corinna Fricke, Ambassador of the Federal Republic of Germany to Cameroon, […]
