Cameroon’s state-owned oil refinery (SONARA) has won a contractual dispute in the High Court of England and Wales, defeating claims made by a Nigerian oil supply company worth over USD 100 million. Lagos-headquartered oil company Sahara Energy Resource claimed that Société Nationale de Raffinage (Sonara) should pay for interest, penal charges and foreign exchange losses […]
By the end of February 2024, commercial banks in Cameroon held 56% of Chad’s debt securities on the CEMAC (Central African Economic and Monetary Community) money market, managed by the BEAC, the region’s central bank. According to IMF report 24/335, the Chadian government has become increasingly reliant on Cameroonian banks, “which have purchased virtually all […]
Syria’s former President Bashar al-Assad has denied claims that his departure from Damascus was planned in advance, saying Russian authorities requested his evacuation from the Hemeimim air base in the western coastal province of Latakia after it came under intense drone strikes. “My departure from Syria was neither planned nor did it occur during the […]
President Paul Biya warned on Monday of “disastrous consequences” for the countries of the Economic and Monetary Community of Central Africa if urgent action is not taken to address their deteriorating net external reserves. The member countries – Cameroon, Gabon, Chad, Equatorial Guinea, Central African Republic, and the Republic of Congo – share monetary policy […]
A new cohort of soldiers from the Rapid Intervention Battalion (BIR) has completed its training. On Friday, December 13, at the expansive BIR base in Maroua-Salack, in the Far North region, 755 soldiers received their graduation certificates. Simultaneously, at the Man O’ War Bay base in Limbe, in the South-West region, another 378 recruits also […]
Israel’s foreign ministry announced on Sunday that it was closing its embassy in Ireland, citing the Dublin government’s “extreme anti-Israeli policies”, further straining tense relations between the two nations. Diplomatic ties between Ireland and Israel have deteriorated after a series of moves that included Ireland recognising a Palestinian state and backing an International Court of […]
The heads of state from the six CEMAC countries are scheduled to meet on December 16 in Yaoundé, Cameroon’s capital. This summit, confirmed by sources within the Ministry of Finance and the Bank of Central African States (BEAC), will focus on the growing economic challenges in the region. The gathering is so serious that a […]
Cameroon inaugurated its first Child Rights Center on Wednesday at the University of Yaoundé II in Soa, a significant step in a UNICEF-backed initiative to integrate child rights into academic programs. This initiative stems from a memorandum of understanding signed on July 16, 2024, between the United Nations Children’s Fund (UNICEF) and eight Cameroonian academic […]
The next 25 years could prove decisive in determining whether the world’s 26 poorest countries progress to middle-income status, a new World Bank analysis shows. Home to more than 40 percent of people struggling on less than $2.15 a day, these countries are the central focus of global efforts to end extreme poverty. Yet their […]
After a heated argument with First Lady Chantal Biya, Rear-Admiral Joseph Fouda was drummed out of the Unity Palace accused of fraud. He headed no unit of the Cameroonian armed forces, nor did he even grace its highest ranks, let alone did he earn President Paul Biya’s eternal gratitude by rescuing him from some plot […]
