Karin Ngwa hosts 19 displaced persons from the crisis-hit northwest region of Cameroon in her home in Bonamoune, Douala. When she learnt about the recent fuel price increase, she was devastated because basic commodities were already expensive. “Things are hard, things are difficult. This family that I have is just too much,” said Ngwa, who […]
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Louis Paul Motaze, Cameroon’s Minister of Finance, has launched a tender for the manifestation of interest in the audit and evaluation of the management of the 180 billion FCFA (about US$360 million) allocated for COVID-19 management in the country. The demand for an independent audit comes as a result of a public outcry against the […]
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The Cameroonian affiliate of the French bank, Societe Generale, has increased its credit line for local businesses negatively affected by the COVID-19 pandemic to 35 billion FCFA (about $70 million). An accord to this effect was signed on Monday, December 14, between the Cameroonian Government represented by the Minister of Finance, Louis Paul Motaze, and […]
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The Cameroon government has signed a new loan accord with the Development Bank of Central African States popularly known by its French abbreviation BDEAC. The signature of the accord follows a decree signed December 4, 2020, by Cameroon head of state President Paul Biya, authorizing the Minister of the Economy, Planning and Regional Development, Alamine […]
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Cameroon’s Ministry of Small and Medium Size Enterprises has selected 720 small businesses to benefit from the economic and financial resilience programme aimed at supporting businesses affected by the ravages of the COVID-19 pandemic. The selected small businesses and artisan enterprises would receive a share of the two billion FCFA (about US$4 million), which is […]
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The French Agency for Development (ADF) has given the sum of 10 million euros to finance Cameroon’s biodiversity rescue plan dubbed “BIODEV 2030”. The project which would be coordinated by the Expertise France outfit and facilitated by the World Wildlife Fund (WWF) aims at stopping the loss of biodiversity in Cameroon between now and 2030 […]
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European companies operating in Cameroon are currently rethinking the investment of 148 billion FCFA (296 million dollars) they had intended to plough into various projects in the country due to the impacts of COVID-19 pandemic. According to the just published 2020 report on European investments in Cameroon, 69 per cent of the companies were affected […]
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The Cameroon government envisages making available the sum of 800 billion FCFA (about US$1.6 billion) by way of guarantee to local businesses hard hit by the negative effects of the Covid-19 pandemic. Making the announcement during the Cameroon Business Forum which took place in Yaounde last week, the Minister of Finance, Louis Paul Motaze revealed […]
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The International Monetary Fund (IMF) Board of Directors Wednesday October 21, 2020 approved a further disbursement of $156 million, (86.2 billion FCFA) to Cameroon in support of its fight against the COVID-19 pandemic. This amount given under the Rapid Credit Facility of the IMF, comes after an earlier sum of $226 (135.1 billion FCFA) granted […]
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The Cameroon government received more financial assistance by way of loans from local banks than from foreign lenders as the country battles #COVID19 during the first quarter of 2020. According to a report on the execution of the national budget for the first six months of the 2020 fiscal year, loan projections for projects including […]
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The United Nations World Food Programme (WFP) is offering financial assistance to about 18,000 households affected by the COVID-19 pandemic in Cameroon’s Far North Region. The project, expected to last for six months, is being financially supported by the United States Agency for International Development. The decision to provide the assistance is informed by the […]
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Cameroon’s lone electricity supplier ENEO is cutting down its 2020 fiscal year investment budget from 67 billion FCFA (about $134 million) to 45.7 billion FCFA (about $91 million). “The Covid-19 crisis has negatively impacted the putting into place of our investment plan. “The Board of Directors, taking into consideration the severe constraints linked to the […]
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