Cameroon: Business in

December 2019 - January 2020 / N° 82-83
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CFA: The debate is open

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3
By Brice R. Mbodiam
Decentralization, let’s go…

No sooner had they reviewed and approved the 2020 budget that the
MPs were once again convened for a 15-day special session to review
and vote the draft law on the code of decentralized territorial units.
The session already started since December 13, 2019 and according
the government explanatory statement, the focus law gathers all
the legislative corpus for decentralized territorial units in a single
document.
Government says the drafting of this law is the concretization of
“public authorities’ desire to speed up and deepen the decentralization
process, reinforced by the recommendations resulting from the general
meetings of communes, as well as those of the national dialogue”.
Indeed, one of the outcomes of the national dialogue, initiated by
the Head of State to find a way out of the Anglophone crisis that
has been shaking the country since 2016, was to accelerate the
decentralization process and grant a special status to the northwest
and southwest regions. Decentralization was then chosen instead of
federalism, supported by some of the participants, and the secession
advocated by the separatists, who refused to participate in this great
dialogue.
It’s now effective that the country’s two Anglophone regions have
a special status, “based on linguistic specificity, which is expressed
through a particular educational and judicial system, the manage-
ment methods of which are laid down by specific laws”. But, despite
this measure, the law “emphasizes the need to respect national unity,
territorial integrity and the primacy of the State”. This means that
the government is not going for a partition of the country along
linguistic lines.
Beyond the decentralization acceleration vision that will also enable
the direct transfer of financial resources to local authorities (mean-
ing they will no longer be included in the budgets of ministerial
departments); the special status for Anglophone regions; or the reaf-
firmation of the country’s unity; the new law also meets a multi-year
request which is the suppression of government delegates’ posts in
major cities. They were kind of “super mayors” appointed to keep a
firm grip on the management of large cities despite the presence of
elected mayors. The fulfilment of this request was long awaited by
many policy entrepreneurs who advocated for it.
These significant changes contained in the draft law, which also
specifies the functioning of the regions to be set up in the framework
of the decentralization process, are to be commended despite the
controversy which seems more like identity affirmations rather than
real attempts to build a harmonious national community.
N° 82-83 / December 2019 - January 2020 BUSINESS IN CAMEROON

4
CONTENTS
FCFA INTERVIEW
08 • C EMAC: Challenges ouna Kadiri : “The African
18 • M
and directions Continental Free Trade Area
to accommodate will bring extraordinary
monetary stability opportunities to this
and development continent and its people”
financing
INTERVIEW
FOCUS 22 • A urélie Chazai :
“Returning
to Cameroon
might seem very
surprising and
risky to many”
12 • C ameroon and those foreign junior mining
companies full of unfulfilled promises
BUSINESS IN CAMEROON
13 • G eovic Mining could lose its permit for
Publisher
Nkamouna nickel-cobalt deposit Stratline Limited
15 • C &K Mining divests shares in Mobilong diamond Publication Director

project to Sino-American investor, following Yasmine BAHRI-DOMON
scandalous potential overvaluation Contributors

Brice R. MBODIAM, Sylvain ANDZONGO, Idriss LINGE.
16 • A fter it failed the Minim Martap bauxite project,
Operator
Hydromine announces giant hydro project in Médiamania Sàrl
Cameroon www.mediamania.pro
Design : Jérémie FLAUX,
17 • M
balam iron Project: Sundance relies on Translation : Schadrac AKINOCHO
AustSino, after several unsuccessful extensions of Advertisement

its agreement with the government regiepub@investiraucameroun.com
In Cameroon
17 • O
nly a year after it acquired shares in the Nkout
Albert MASSIMB, almassimb@yahoo.fr
Tel : 00 237 694 66 94 59
iron ore deposit from Affero Mining, IMIC is
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already seeking Rotimpres, Aiguaviva, Espagne
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BUSINESS IN CAMEROON N° 82-83 / December 2019 - January 2020

5
NEWS IN BRIEF
PUBLIC MANAGEMENT P 27-39 ITC & TELECOM P 48-54
FINANCE P 40-43 ENERGY P 55-59
AGRIBUSINESS P 44-46 TRANSPORTATION P 60
INDUSTRY P 47 SERVICES P 61-62
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Rumours, preconceived notions, clichés, superstitions,
urban legend: What is real? What is fake?
P 63-65

6
COMPANY OF THE MONTH
Glass factory Socaver boosts production

capacity with 5.3 bln CFA Francs investment
On November 15, 2019, Cameroonian different sizes and colors (35 cl, 100 cl, in Cameroon and neighbouring
minister of industry Dodo Ndocké 150 cl, etc.),” SOCAVER explains. countries such as Equatorial Guinea,
inaugurated the new facilities of local “This investment, made in a difficult Chad and the Central African
glass-making company SOCAVER context, is part of SOCAVER’s strategic Republic.
in Douala, the country’s economic plan launched in 2018 by the general In addition, thanks to its crate
capital. management, in order to make the production workshop created in
A subsidiary of SABC group, leader company a real expert in packaging 2014, SOCAVER, the company 28%
of the brewing market in Cameroon, (Ed.note: glass bottles, plastic crates, owned by the Société Nationale
SOCAVER invested the tune of 5.3 and preforms), oriented towards a d’investissements (SNI) and private
billion CFA Francs for the renovation greater diversification of its business- Cameroonians, also has an annual
of its oven number 2, and construc- es,” the company adds. production capacity of 2 million
tion of a PET preform production By launching the production of PET plastic crates (12 and 24 holes). At
workshop. preforms, SOCAVER, the only glass the same time, with the renovation of
“With this investment, SOCAVER now factory in the CEMAC Zone, is thus furnace No. 2, SOCAVER’s yearly glass
has a workshop with two preform completing its range of products melting capacity has increased from
production lines with a capacity of (glass and PET) to satisfy the PET 32,500 to 38,500 tons.
300 million preforms per year. This beverage (soft drinks, mineral Brice R. Mbodiam
will enable the production of bottles of water) segment’s packaging needs

7
MONTHLY STATISTICS
55%
The Cameroonian government, via the Ministry of Water
and Energy, just launched a program to monitor, control
and optimize electricity bills in the public sector. According
to the program’s creators, it is aimed at reducing the coun-
try’s electricity expenditures, which average 41 billion CFA
Francs every year according to official reports.
1300
A study commissioned by the government reveals that
public lightning represents more than 55% of the electrici- Jean-Bernard Levy, CEO of Electricité de France (EDF), a
ty bills the government pays every year. shareholder in the Nachtigal dam construction project in
Central Cameroon, was on the dam’s construction site on
November 26, 2019.
During this field trip, accompanied by Cameroon’s
Minister of Water and Energy Gaston Eloundou Essomba,
it was revealed that more than 1,300 employees are already
working on this project, which was officially launched in
February 2019.
These employees, and many others to certainly be recruit-
ed, are working to deliver, in 2023, a 400 MW dam repre-
senting one-third of the country’s current power genera-
tion capacity.
1,250 CFA Francs

In Cameroon, cocoa farmgate price has been ever increas-
ing. Indeed, according to figures published by Système
d’information de filières (SIF), a system that provides up-
dated information about the coffee and cocoa sectors, the
maximum price per kilogram rose from 1,220 CFA Francs
in early November to 1,250 CFA Francs on November 21,
11 300 tons
2019.
This 30 CFA Francs increase recorded in the country’s pro-
duction basins at the end of the rainy season announces an
improvement in sales towards the end of the year since it
is a reflection of the growing demand due to the arrival of Between July and September 2019, Cameroonian log-
new cocoa processors in the country. gers exported only 11,300 tons of logs to the European
Union market. According to the International Tropical
Timber Organization (ITTO), these exports are down 20%
year-on-year.
In Central Africa, this decline in log exports to the EU is
also observed in countries such as the Central African
Republic (-17% to 13,200 tons), the DRC (-35% to 10,600
tons) and Equatorial Guinea (-64% to 2 900 tons).

8 FCFA
CEMAC: Challenges and

directions to accommodate
monetary stability and
development financing
During the extraordinary meeting, In December 2016, when CEMAC to strengthen foreign exchange
on November 21-22, 2019, the presidents met in Yaoundé, these re- reserves.
Heads of CEMAC member coun- serves were just over 50% of imports During an interview with Ecofin
tries expressed a common desire needs, raising public concern about Agency, Gabonese Finance Minister
to defend the stability of their the risk of currency devaluation. Roger Owono Mba, acknowledged
currency (XAF). At the same time, According to a report published in this problem. He finds it legitimate to
they indicated their will to see the November 2019, by the BEAC, the repatriate all the currencies resulting
current monetary cooperation region’s foreign reserves at end July from the exports of resources but he
agreements with the European 2019 reached CFAF XAF4272.7 billion also points out that discussions with
Union and France evolve. (66.21% of import requirements), mining and oil operators have raised
an improvement by a little over the concern that the Central Bank
The CEMAC Commission and the XAF1,000 billion compared with the should upgrade to the standards for
central bank BEAC were tasked with level it was a year ago. fund transfers. A requirement that
“proposing, within a reasonable time has not yet been met because this
frame, an appropriate plan leading to EXTERNAL POSITION implies going through international
the evolution of the common currency.” STABILIZED BUT CHALLENGES clearing entities, whose access is
To maintain domestic and external REMAIN TO BE ADDRESSED more demanding than the traditional
stability, the Beac has pursued a To achieve this result, the Central SWIFT system (normal transfer
restrictive monetary policy over Bank has taken many measures. mode).
the past three years. Its actions are The most important, and the most In sectors other than oil and mining,
aimed at maintaining the parity rate challenging to implement, is the new the implementation of this exchange
between the CFA franc and its refer- foreign exchange regulation. Under rate policy has not been easy. The
private sector, in Cameroon par-
ticularly, put strong pressure on the
“As for our monetary policy, it has so market, making the black market for
currency exchange seize the oppor-
far helped ensure financial stability in tunity. This change has highlighted
many problems. These include the
our sub-region. However, there is the alignment of commercial banks,
human resources within the Central
need to remain flexible for any reform Bank and its branches and even the
adaptation of economic operators
proposal” to the new procedures. However,
the implementation of a permanent
consultation and communication
ence currency (the euro). According this regulation, all foreign currencies strategy has helped stabilize the
to the monetary agreements with generated from exports by CEMAC situation.
France, this monetary stability countries, including products of the So far, the BEAC has been unable to
requires that the region’s foreign oil and mining sectors, which are overcome some problems. CEMAC
reserves always represent at least the leading products exported by member countries have agreed to
20% of CEMAC’s imports. the sub-region, must be repatriated make oil and mining agreements

FCFA 9
available so that the BEAC can en- STABILIZATION OF THE considered that too much liquidity
sure the revenues declared in these INTERNAL ENVIRONMENT IN represents a risk on foreign exchange
sectors are in line with the signed PROGRESS… AT THE EXPENSE OF reserves and that this should guide
contracts. However, according to DEVELOPMENT FINANCING the pace at which money is cut.
our sources at the BEAC, no con- As far as domestic stability is However, in a context of economic
tracts have been sent yet. The other concerned, Beac’s main focus is on diversification, States and investors
challenge is that many non-bank reducing excess liquidity in the bank- in the subregion need cash to launch
economic actors have not repatriat- ing sector and the monetary system. projects. Some analysts believe that
ed their foreign currencies yet. It has reduced cash advances to pressure on the quantity of currency
At the end of June 2019, the assets States, added new constraints to the in circulation is a problem for the
of CEMAC residents held in foreign refinancing of commitments made financing of the subregion’s develop-
banks still amounted to $5.2 billion by banks and undertaken the gradual ment. It would not take the econo-
(XAF3,153 billion). The central reduction of cash injections into the my’s actual credit need into account,
bank indicated in its discussions sub-region banking sector. It also but rather the willingness to solve a
with the International Monetary announced an operation to reduce problem that has never arisen, name-
Fund (IMF) that it had no details excessive liquidity for early 2020. ly the pressure on foreign reserves as
on the nature of these assets but However, these actions, suggested a result of monetary creation.
data collected by Ecofin Agency by the IMF, do not consider the fact At the Central Bank, there is also
on the Bank for International on ground. They are based on the discomfort in pursuing this type of
Settlements’ platform indicate that assumption that too much liquidity domestic currency stabilization pol-
nearly $1.5 billion of these assets in banks could become a risk for icy. Challenges include the fact that
are held by CEMAC households currency hedging if large volumes of excess liquidity concerns only a few
while nearly $2 billion are owned transfer requests are made. Within banks, owned by foreign groups, with
by businesses. the BEAC itself, experts have often restrictive lending policies. Another

10 FCFA
“THE NEW MONETARY COOPERATION MUST BE BUILT

ON THE BASIS OF SOLIDARITY BETWEEN THE 6 COUNTRIES
IN THE REGION”
Benjamin Ngongang, Associate Director in charge
of the Central African region at FinAfrique that
specializes in advice and accompaniment for re-
forms in the banking sector, was once the super-
visor of Banque de France, CEMAC’s monetary
partner. The native Cameroonian comments on
CEMAC Heads of State’s decision on the evolution
of monetary cooperation with France.
Analysts believe that a medium-term breach of

the guarantee provided by France could dest-
abilize CEMAC’s financial sectors and econo-
mies. Do you share this opinion?
BN: The termination of the CFA franc convertibility
guarantee provided by France to the CEMAC zone
for about 60 years now would obviously be a sig-
nificant change for the zone. With such important from an accounting point of view, over this long
reform, some may take a pessimistic view of the period and should be able to continue to do so with
future and fear a destabilization of the economy the additional autonomy that this reform would
and of the financial sector in particular. However, grant it. As long as the reform is carried out in an
this break can also be seen as an extraordinary op- organized manner, by involving from the outset all
portunity for the zone, which would then have the the stakeholders, there is no reason to fear a col-
opportunity to choose a new convertibility regime lapse at the end.
more adapted to its contemporary situation.
Indeed, at the beginning of the 1960s, when this What do you think would be the best scenar-
guarantee system was put in place, the countries io for the evolution of this monetary coopera-
of the CEMAC zone were barely officially joining tion?
the community of nations after their independ- BN: The new monetary cooperation must be built
ence, the solution of a French guarantee for the on the basis of solidarity between the 6 countries
young common currency undoubtedly reassured in the region, obviously strengthening the prin-
the countries of the region and their trading part- ciples of economic convergence and shared fiscal
ners, led by France itself, at the time. Today, the discipline, without losing sight of the structural
context is very different. CEMAC countries have differences between the economies. On the oth-
acquired experience in the joint management of er hand, as France is no longer the main trading
their currencies and foreign exchange reserves; partner of the region, the new currency should
trade partnerships have evolved with the arrival, be pegged with a basket of currencies that better
in the early 2000s, of Chinese, Indian and Turkish reflect the region’s international trade, with an
players which are gradually weighing heavily in autonomous target for the Beac, on the exchange
the trade balance of the CEMAC zone. The French rate and price stability objective.
guarantee no longer seems really essential in such Finally, we believe that this transformation should
context. It is also worth mentioning that this guar- be achieved by strengthening governance and
antee has almost never been used because, in 60 transparency within institutions. This must be
years of existence, the operating accounts have done gradually, with clear milestones and the in-
rarely been negative. Even during the sharp de- volvement of the region’s economic and financial
valuation of 1994, the level of reserves had fallen actors so that they will be ready to implement the
sharply without, however, becoming negative. new rules when the time comes.
Beac has, therefore, managed its reserves well,
Interview by Idriss Linge

FCFA 11
problem is that if the Central Bank A new development may lie in the African version of the euro), a parallel
stops its liquidity injections, banks, stated desire to review monetary monetary mechanism called the dual
whose failure would be a major cooperation with France and the currency system. This would unlock
problem for the sub-region’s financial European Union. The definition the potential of productive sectors
system, would find themselves in of the scope and content of this boosted by the dual requirement for
difficulty while their balance sheets evolution has been entrusted to the external and internal stability of the
and governance are quite good. CEMAC Commission and the BEAC currency.
but already, we have felt a differ- Nigeria’s experience can also be
WHAT ARE THE PROSPECTS ence in approach among the Heads inspiring. There, the Central Bank did
FOR MONETARY COOPERATION of State. While Teodoro Obiang not limit itself to setting up mone-
WITH FRANCE? Nguema of Equatorial Guinea sees tary policy mechanisms. It reduced
In his closing speech, Cameroonian this as an opportunity to be free from banks’ access to foreign currencies
President Paul Biya recalled the the long-standing monetary partner for the financing of basic needs. The
need for flexibility. “As for our mone- (France), Denis Sassou Nguesso of other foreign exchange needs are
tary policy, it has so far helped ensure Congo believes that they must take met by the money market (Nafex). In
financial stability in our sub-region. more responsibility. addition, it prohibited commercial
However, there is the need to remain There are plenty of avenues for reflec- banks from investing in treasury bills
flexible for any reform proposal tion. One of them is defended by the and bonds. The objective is to reduce
aimed at consolidating its action and Cameroonian statistician Dieudonné excess liquidity in the monetary
ensuring the best conditions for an Essomba. The latter, who was already system while ensuring that produc-
effective contribution of monetary predicting this crisis situation in the tive sectors are financed, to support
policy to the development of the CEMAC region, had suggested creat- diversification.
sub-region,” he said. ing, alongside the FCFA (which is the Idriss Linge

12 FOCUS
Cameroon and those

foreign junior mining
companies full of
unfulfilled promises
In November 2019, two major events Codias commits to exploiting, at an have fallen on companies with just
occurred in the Cameroonian mining industrial scale, the 480,000 tons promises but no actions. On close
sector. Indeed, within days, the gov- Colomine gold deposit in the Eastern observation, these operators seem
ernment signed iron and gold mining region. The overall investment for more concerned about the impact
agreements with two local mining this project is estimated at XAF40 of speculation organized around
companies. The first agreement was billion, according to official sources. Cameroonian mining licenses on
signed with Cameroonian billionaire This is the first time the international stock exchanges than
Dieudonné Bougne’s G-stones which Cameroonian government is placing about the effective development of
plans to invest XAF900 billion in such high level of confidence in local the country’s mining potential.
partnership with Canadian investors investors operating in the mining Consequently, the mining licenses
for the exploitation of Akom II iron sector. Therefore, many observers the country attributed to them are
deposit in the Southern region. The see in those conventions signs of the being traded but there are no bene-
investment project includes the con- government’s hopelessness with the fits for Cameroon and the pompous
struction of a steel plant in Fifinda, numerous unfulfilled promises of for- announcements of exploitation of
also in the South, to process the ore eign mining companies that signed mining deposits, covered by those
mined from the Akom II deposit. such agreements with Cameroon. licenses, are not followed by actions.
The second mining company Indeed, from American Hydromine, Here is a look back at those mining
Cameroon trusted for mining Australian Sundance Resources, projects that raised a lot of hope, but
operations is Bonaventure Mvondo Canadian-American Geovic to have gradually led to despair.
Assam’s Codias. Through the agree- Korean C&K International, the Brice R. Mbodiam
ment signed on November 29, 2019, Cameroonian government seems to

FOCUS 13
Geovic Mining could lose its permit for

Nkamouna nickel-cobalt deposit
In recent days, we learn more about authorities let him keep the mining sell the project’s shares to the highest
the audience granted on February permit, which its local subsidiary has bidder,” a source said.
21, 2018, to William Alan Buckovic, held for 16 years but has produced
founder of American-Canadian no concrete performance so far. PROJECT ABANDONED AFTER A
Geovic Mining Corp, by the General What happened is, given Geovic FAILED ASSET TRANSFER
Secretary of Cameroon’s Presidency, Mining’s inability to develop the According to local sources, there has
Ferdinand Ngoh Ngoh. The company Nkamouna project since 2003, the been no activity on the Nkamouna
has held, since 2003, Cameroon’s very Cameroonian government has been site since 2013, equipment at the
first mining permit, granted for the considering, since late 2017, with- headquarters in Yaoundé have been
Nkamouna nickel-cobalt-manga- drawing the permit and subsequently removed and it seemed clear that
nese deposit, located in the Eastern launching an international tender to Geovic gave up on the project. This
district of Lomié. recruit a new partner who, it hopes, happened after the junior mining
During that meeting with the would succeed where Geovic failed. company failed to sell its assets on
General Secretary, sources close to “Geovic cannot develop the Nkamouna the project to Chinese Jiangxi Rare
the matter say, Buckovic announced mining project simply because it has Metals Tungsten Group Holdings
his company is going to resume ac- no resources. The proof is that they Company Ltd (JXTC).
tivity on the project following a dead have not done anything for 15 years On July 23, 2013, Geovic Mining Corp
period of 6 years and pleaded that (16 years today, ed). They just want to had announced that it had signed

14 FOCUS
a “definitive agreement” with the National Investment Company (SNI), for non-compliance with the rules);
Chinese company. “This final agree- which represented the local partners This is a real disappointment for the
ment represented a significant pro- and controls 39.5% of the project was populations of the Lomié district,
gress for the operation of the project not satisfied with the Chinese side. who have once dreamed that the
in Nkamouna. The development of the This unsuccessful transaction is only town of Nkamouna would become
project will start as soon as funds are one of many others either due to home to Cameroon’s first cobalt
available and will allow the creation unfulfilled promises, hesitations, or a mine. “In any case, no one listens to
of jobs and diversify the economy of constant revaluation of the potential them here anymore. The populations
Cameroon,” said Michael Mason, CEO of the Nkamouna deposit. As a result, no longer believe in it,” Célestin
of Geovic Mining Corp. sources say, the Geovic shares con- Assama Mbongo, former mayor of
But what had been presented as a tinued to rise on the Toronto Stock Lomié, told Business in Cameroon in
“definitive agreement” in July 2013 has Exchange in Canada (it was finally December 2014.
not be respected by the parties. The excluded from this market in 2014

FOCUS 15
C&K Mining divests shares in

Mobilong diamond project to
Sino-American investor, following
scandalous potential overvaluation
C&K Mining, which has held a permit
for the Mobilong diamond deposit in
eastern Cameroon since December
2010, has transferred the majority of
its assets in this mining project to a
Mr. Yang, a Chinese billionaire resid-
ing in Hong Kong, who sources said
is also a US citizen. In this regard,
C&K Mining held a general meeting
on November 19, 2014, in Yaoundé,
after a board meeting in Seoul on
November 2, and announced that Mr.
Yang is the “new majority sharehold-
er” of this mining company.
C&K Mining was a joint venture
between Koreans and Cameroonians.
Following the transaction, the
Korean partners who were previously
majority shareholders with over 50%
stake now only control “less than
10%.” The amount invested by the leading Korean public figures and According to our sources, Paul Ntep
Sino-American investor has not been the heads of C&K International, the Gwet who has virtually worked on all
disclosed but operations took place parent company of C&K Mining, took mining projects in his country was
since “late 2013.” advantage of the opportunity, selling invited as witness on behalf of C&K
The assets were sold after the at the higher price before it later Mining to reassure Korean justice on
Mobilong diamond mine scandal in declined. the real existence of a world-class
South Korea in December 2010. That diamond deposit in Mobilong in East
year, C&K Mining, which explored QUESTIONED, BUT NEVER Cameroon. CAPAM has a 10% stake
the deposit in 2006, was accused of DENIED in C&K Mining, a company he helped
over-evaluating its potential (initially Legal action was taken against the to create with Korean partners and
736 million carats, or 5 times global Korean mining company whose other national operators.
production, followed by a readjust- chairman, Deuk Gyun Oh, was Although the Mobilong diamond
ment which brought the figure down arrested and jailed in Korea in deposit’s potential is questionable,
to 420 million carats) in order to February 2013, before being freed no credible contradiction has so far
speculate on the Seoul stock market. in September 2014. This occurred been made against C&K Mining’s
Indeed, after receiving the mining following a long hearing (9:00 am 420 million carats estimate. But all
permit in December 2010, and to 7:00 pm) in the Seoul Court of parties agree that this is a world-
following the initial projection Justice on September 15, 2014, with class deposit. Especially thanks to
being declared inaccurate, C&K Cameroonian Paul Ntep Gwet, its conglomeratic part, which is not
Mining’s stock rose on the Seoul former Coordinator of the Small- estimated yet but considered more
stock exchange, multiplying its scale Mining Support Framework important than the alluvial part,
going selling price “by 4.6 in only 16 (CAPAM), a governmental program whose total potential is estimated at
days,” stated Frederic Ojardias, an governing small-scale mining in only 230,000 carats of diamonds.
RFI correspondent in Korea. Many production zones.

16 FOCUS
After it failed the Minim Martap

bauxite project, Hydromine announces
giant hydro project in Cameroon
US-based energy company of “any activity launched by businesses the joint venture created for this
Hydromine said it has plans to build, in accordance to Cameroon’s legisla- purpose, developed the project until
over a period of 5 years, a 2 billion m3 tion.” An objective which perfectly 2016.
dam and a 1,800 MW power genera- fits the reputation of this firm in the For “failure by CAL to provide all the
tion unit (higher than the 1,500 MW country. final preliminary studies on all the
currently produced by the country, It should be recalled that Hydromine components of the project (baux-
ed) in Cameroon. Projects will be de- somehow bluffed on a significant ite-alumina), with an integrated
veloped in the Littoral region, and are project involving bauxite exploita- financial model, on the one hand,
part of a bigger project called Grand tion in Minim Martap and Ngaoundal and Dubal Alumina’s feverish desire
Eweng, initiated by the company. in the Northern part of Cameroon. In to continue to invest in the project, on
Hydromine had already gotten the fact, Hydromine, which appeared, at the other hand,” the Cameroonian
green light from authorities and the time, to be just a minor American government was unable to conclude
an agreement was signed in that start-up with no offices, financial a mining agreement with CAL.
regard on April 6, 2015, a month after resources or even mining expertise, Cameroon also withdrew the
Peter Lionel Briger, the promoter of said it would invest around 5,000 licenses for the project from this
Hydromine, established Hydromine billion FCFA in the bauxite project. company and sold them to Canyon
Cameroon Ltd in Douala, with an Resources in 2017. Through its local
initial capital of 1 million CFA Francs. WITHDRAWAL OF LICENSES unit Camalco, Canyon Resources
The company claims, without any Unable to manage the Minim Martap committed, according to a source
proof so far, that it has increased this and Ngaoundal bauxite project, close to the project, to mobilize more
capital to 600 million CFA Francs and Hydromine eventually entered into than 6 billion CFA Francs to meet
is considering bringing it to 1 billion a joint venture with Emirates Dubal specifications that extend over a
CFA Francs. Alumina and India’s Hindalco, to 3-year non-renewable period.
This firm is socially dedicated to the retain only residual shares in the
establishment of energy projects and project. Cameroon Alumina (CAL),

FOCUS 17
Mbalam iron Project: Sundance relies

on AustSino, after several unsuccessful
extensions of its agreement with the
government
Australian junior mining company
Sundance Resources and AustSino
decided on 22 October 2019 to ex-
tend the deadline for finalizing their
equity investment agreement for the
Mbalam iron ore project in eastern
Cameroon to 30 June 2020.
The two companies expect that be-
fore that date, Cameroon will reach
a new agreement for this project rights on this iron project to June on track. Indeed, the agreement
since the old agreement between the 2019 but its wish was not granted. between the two companies provides
country and Sundance Resources’ Maybe, Cameroon was scalded by the for the transfer of majority shares
subsidiary Cam Iron expired in Australian company’s inability to find in Sundance to AutSino, which will
March 2019. financial partners for the project. then develop the Mbalam mining
Sundance Resources, which was Anyway, Sundance Ressources sees project, which includes the construc-
looking for investors, was hoping AustSino as the investor that will tion of a mine and a railway of more
that Cameroon would extend its put the Mbalam iron project back than 500 km.
Only a year after it acquired shares in

the Nkout iron ore deposit from Affero
Mining, IMIC is already seeking
a new buyer
British company International CFA Francs each represent 49.5% of important in Cameroon, ahead of
Mining & Infrastructure Corporation Caminex’s assets, IMIC specified in the Mbalam-Nabeba iron deposit (in
(IMIC), which bought the shares its statement. This call for funds, the the east of the country), 2/3 of which
of Affero Mining in the Nkout iron final results of which are still not yet is located in Congo. In December
project, in Southern Cameroon, an- revealed 4 years later, reveals IMIC’s 2014, IMIC announced a revaluation
nounced it has decided to sell 4,903 difficulties in developing the Nkout of the potential of the Nkout deposit
shares of its Cameroonian subsidiary, iron project, in an international to 2.7 billion tons of iron resources,
Caminex. The decision was taken context marked by the continuous with a 68% growth on DSO (directly
during a general meeting held on 15 decline in the price of this metal. exportable ore).
December 2015. As a reminder, the Nkout iron
These shares with a value of 10,000 deposit is presented as the most

18 INTERVIEW
Mouna Kadiri
“The African Continental
Free Trade Area will
bring extraordinary
opportunities to this
continent and its people”
Mouna Kadiri is the director of the Africa
Development Club, which belongs to the Moroccan
Attijariwafa bank’s group. She recently co-chaired
with Cameroon’s minister of trade the third edition
of the Africa Development Club’s conference, in
Douala. In this interview, she talks about the Club’s
actions to benefit African entrepreneurs; this is
as the Continental Free Trade Zone is about to be
launched.
Business in Cameroon : Recently, nies.” The theme was picked by SCB recent years. They are mostly due to
the Africa Development Club Cameroon (subsidiary of Attijariwafa exchange regulations, key reforms
held a meeting focused on trade, Bank) and the African Development introduced by the government, and
a meeting which you co-chaired. Club in Cameroon. These two firms a will (of the government and the
Why did you pick this topic are the most fit to identify the most private sector) to make them more
particularly? relevant topics to foster investment visible. It was based on these changes
Mouna Kadiri : This was a multi- and value creation, for both local and that the committee that worked
sectoral mission around the theme international firms. Cameroon has on the meeting decided that trade
“Trade as growth leverage for compa- recorded various transformations in would be a great theme, given its

INTERVIEW 19
“Regardless of its origin or identity, any business that can contribute to the development of a community, create jobs, pay taxes, improve the lives of people or
infrastructure, in Africa, is welcomed by the Africa Development Club.”
huge potential for value creation to your club to better profit from initiative to create economic val-
through deals, joint ventures, etc. the African continental free trade ue, ---. Truth is, this zone marks the
The main component of the meeting agreement (AfCFTA)? beginning of something big and with
were the business meetings organ- MK : Long before the AfCFTA project it, we can achieve historical records.
ized after discussions between key came up, we had been operating for We can affirm that this free-trade
speakers. The latter included some 10 years, with no free trade zone. We zone is not only the materialization
top officials such as the minister of had, as you may guess, to deal with of a strong political will but also a
trade, who sponsored the mission, multiple challenges, related to infra- project aimed at bolstering econom-
the deputy national director of the structure, administrative procedures, ic value since we already cooperate
Bank of Central African States, and transport, and logistics. Over the pe- among ourselves, even without it.
the chairperson of Telcar Cacoa, riod, we brought together more than Our role since the last edition of
Mrs. Fotso. During these business 10,000 operators. This took us six the Africa Development Forum
meetings, participants were able to editions of the Africa Development themed “When East meets West,”
exchange on investment opportuni- International Forum, which generat- is to primarily inform, connect,
ties, deals, and joint ventures. ed more than 22 business meetings. and get operators to engage in the
They also visited the autonomous The latter yielded concrete deals, daily activity of businesses; raise
port of Kribi, which is a major project investments, factories, among others awareness of economic operators
considered as a hub in Central Africa. - transactions worth millions of about the African Continental Free
They were able to appreciate the dollars. Trade Area, which is key to boosting
enormous infrastructure, as well as The first challenge to tackle is to business opportunities, in line with
its modern aspect. This helped build help businesses build a relationship the continent’s 2020-2025 strategic
trust with economic operators and of trust with their partners. This plan for trade.
that is mainly why we picked trade as way they will have an axis for value We also wanted to break from the
our main theme. creation and that is exactly the old habit that African countries got
purpose of the free-trade area. Our into since independence. Indeed,
BC : So, the Club is not only an role is to be the flag-bearer of Africa’s we are used to North-South, South-
organization but a real tool that private sector, tell the world: “Yes! South cooperation, as well as to
is building tomorrow’s African It is possible, we create jobs.” Some France and UK centered trade. Well,
trade industry. Concretely, how affirm that this free-trade zone is not we wanted to end this and connect
do you help businesses affiliated only a political act, but also a strong major regions, large cultures, and

20 INTERVIEW
“It is time we become real actors and take our responsibilities. It is not really obvious nowadays where given shareholders of a company are each located, so instead
of focusing on origins of economic operators, we’ve decided to concentrate on creating added value across businesses in Africa.”
major cultural groups. To this end, We must preserve this dynamic. We Club, there is a great bank group
we invited representatives from must protect it, and though this will like Attijariwafa. But you also said
Kenya, Rwanda and Sierra Leone to be a long journey, we are convinced there were other banks such as
be guests of honor of our forum. that the African Continental Free Spain-based Banco Santander, or
We also had some from Nigeria, and Trade Area will bring extraordinary the Al Mada Pan-African Fund. Tell
even China; all to break old habits, opportunities to this continent and us, how do all these institutions
mix things up in the way we work. its people. plan to finance intra-African trade
This sharing of experience must yield which you support?
impressive insight on optimal coop- BC : Nowadays, trade and finance MK : First, let me tell you how our
eration methods. It must help foster almost go in pairs in Africa and Club operates and the model we
an intra-Africa collective mindset. behind the Africa Development have adopted. We have decided
to connect and regroup all banks
of the Attijariwafa Group, as well
as communities it works with,
“This helped build trust with both private and public. Next, we
had support from a Pan-African
economic operators” investment fund, which is Al Mada,
Attijariwafa’s reference stakeholder.
We were also among the founders
of the Trade Club Alliance, which

INTERVIEW 21
“Our role is to be the flag-bearer of Africa’s private sector, tell the world: “Yes! It is possible, we create jobs”
regroups 14 partner banks. The BC : While this idea is original, the This is a new path. We, Africans, don’t
Attijariwafa Bank Group is the only Africa Development Club comes know one another enough and this
African lender, besides a South behind others like China, Japan, brews clichés and in the worst-case
African bank (Ed.note: Standard India, or Russia. These economies real social disasters. Based on this
bank), to be part of this alliance are entering the African continent assessment, we focused on suppress-
which currently covers 65% of leveraging similar initiatives. Do ing barriers, providing reliable data,
global trade corridors. you consider them as potential connecting, supporting, encouraging,
The alliance was created at the partners, rivals or maybe both? and nurturing the interest sparked by
beginning of October 2019. It is a MK : Our vision is to contribute to African businesses.
digital platform that helps entities Africa’s development, but this vision You may be aware that Africa does
such as the Africa Development is not Afro-centered. Regardless of its not only consume what foreign part-
Club operate better. It provides origin or identity, any business that ners decide they should. Recently,
support, networking opportunities, can contribute to the development there have been some eloquent
access to reliable market data, and of a community, create jobs, pay speeches in this regard. It is time we
financial support to its members. taxes, improve the lives of people or become real actors and take our re-
A key contributor to the alliance is infrastructure, in Africa, is welcomed sponsibilities. It is not really obvious
Banco Santander. To date, the alli- by the Africa Development Club. nowadays where given shareholders
ance gathers more than 16,000 busi- However, we are pragmatic and we of a company are each located, so
nesses. It is our pride to have major know that out there, on the field, instead of focusing on origins of eco-
international banks praising the African businesses come first. What nomic operators, we’ve decided to
Africa Development Club, referring we do is tear down all invisible, psy- concentrate on creating added value
to us as being extraordinary. They chological walls that exist between across businesses in Africa.
not only praise us but all African Africans with different backgrounds
businesses which we represent. and cultures, all over the continent. Interview with Idriss Linge

22 INTERVIEW
Aurélie Chazai
“Returning
to Cameroon
might seem very
surprising and
risky to many”
After working for many major law firms in France,
this Cameroonian lawyer and legal advisor decided
to return and serve her country in 2017. Chazai
& Partners, is the firm she founded and a dream
come true for a woman who dared to believe in
her country. In this interview, she shares her very
unusual story.
Business in Cameroon: Could you market shares in an environment a difficult business environment?
tell us about your beginnings in where we were unknown. The main AC : As afro-optimists, we tend to
Cameroon? When did you start challenge at first was to convince see the glass half full rather than
your activity and under which prospects and clients to reach out half empty. However, operating in
conditions? to us. Cameroon’s legal industry is quite
Aurélie Chazai : We started in complex as many see this sector as
November 2017 with a team of only BC : What pushed you to decide to corrupt. What we have therefore
two people. No one knew about us return to set a business law firm in decided to do is provide a different
in Cameroon so we had to secure a country which is known to have service, one based on good ethics,

24 INTERVIEW
a structure that gives them access to

the international market.
BC : Being at the centre of legal

talks between investors and even-
tually public authorities, what do
you make of Cameroon’s business
law? Do you think it enhances
businesses’ competitiveness in its
actual state?
AC : Let’s not play ostrich here.
Things can be improved in this area.
Cameroon’s ranking in the latest
edition of the Doing Business index
is not really the best. We can make
some improvements, in the govern-
ance area, for example, to be more
attractive to investors interested in
Cameroon. We try to reassure foreign
“Our goal was to provide a different economic offer: we wanted to make sure that economic operators investors by telling them that not all
have access to local experts for their major transactions, instead of necessarily resorting to firms based is bad in Cameroon, that there are
in London or Paris.”
some people, both public authorities
and civil servants who do their job
very well. So, they can discuss with
diligent work, and a reliable report to AC : It is true, looking at corruption serious and competent people, who
our clients. That was what drove us, in the Cameroonian legal system, can support their investments in
with a little naivety, to come back to that some things must be im- Cameroon.
offer our services in Cameroon. proved in regard to management. We have success stories here in
Regardless, there are real opportu- Cameroon, companies that came to
BC : There were other lawyers nities in our daily activity, especially invest and were happy about their in-
already established in the country. as more and more companies need vestments. Some of them have been
What added-value did you bring structuring. Cameroon is not in Cameroon for more than twenty
and what was, in your opinion, the isolated from the rest of the world. years. And though we tend to often
factor that would be decisive to We are the driving force of Central talk about what is wrong, we should
your success? Africa. We have business relations also talk about what goes well.
AC : Our added-value compared to
already established firms was that
our associates already had some
experience at the international “Returning to Cameroon might
level. We had been trained and had
worked at major firms in Paris, and
seem very surprising and risky
other places in Europe. Also, we had to many.”
a different look on things. Our goal
was to provide a different economic
offer: we wanted to make sure that with other countries so, economic
economic operators have access to operators in Cameroon need to have BC : What challenges did you face
local experts for their major transac- a specific structure and that is where as you launched your firm?
tions, instead of necessarily resorting legal advising comes in. AC : Our biggest challenge was to in-
to firms based in London or Paris. There could be legal frictions if some vest in a sector which was not really
decisions fail to be executed or are known. There were many obstacles
BC : Tell us a bit about legal advis- executed poorly. Fortunately, there on this path. Talks with the adminis-
ing in Cameroon. Do you believe are ways to avoid these, through tration, the fact that we had to find
there are opportunities or things advising. We intervene before reliable partners are some of the
to improve in this sector? conflicts by helping businesses adopt obstacles we had to overcome. Then,

INTERVIEW 25
“We had no issues regarding human resources.There are a lot of very well trained lawyers and jurists in Cameroon”
there was the issue of trust. Being tend to go to much older lawyers, team. Another challenge was how
a team of young people, securing a with more experience. We had to put other lawyers in the country treated
spot on the market is not the easiest a lot of efforts into convincing our us at first, as they were not really
in Cameroon. We, therefore, had to prospects and clients to trust us. On used to the innovative communica-
convince clients and prospects to the other hand, we had no issues re- tion methods we practiced. All these
trust their cases with us, even the garding human resources. There are actually forced us to build ourselves a
most sensible involving millions of a lot of very well trained lawyers and spot in Cameroon.
CFA francs. jurists in Cameroon. It was fairly easy
In effect, in such conditions, people to put in place a reliable and strong BC : As a woman, what challenges
do you face while running your
business daily?
“As afro-optimists, we tend to AC :The only true issue here is trust.
Often, when a case is handed to a
see the glass half full rather man, he is not asked for a cascade
of references beforehand. However,
than half empty.” when it comes to a woman, a young
one, in addition, most people ask for
more assurance than they would if

26 INTERVIEW
“What actually pushed me to take action was realizing that most Africans flying abroad were flying third-class whereas foreigners coming to Africa would fly business
class.This means that foreigners come here to make money while we go to Europe to survive.”
they were working with a man. This BC : You decided to leave France was realizing that most Africans
is not specific to our profession, it to return to Cameroon in 2017 flying abroad were flying third-class
happens in all economic sectors. while many Africans move to the whereas foreigners coming to Africa
Regardless, instead of complaining Western part of the world seeking would fly business class. This means
about it, I see this as an opportunity greener pastures. You have taken that foreigners come here to make
for us, women, to do better than the the opposite path. Why did you money while we go to Europe to
rest. Once you show how competent pick this path which may seem survive. I just thought there is really
you are, everyone forgets that you surprising to many? something to do in Africa and also I
are a woman. Women working in AC: It is true that my choice of believed that Africans must under-
this field must be highly resilient and returning to Cameroon might seem stand that our continent is full of
perseverant. very surprising and risky to many, opportunities.
especially given that 2017 was a year
BC : With such a demanding work, when things started getting difficult Interview by Idriss Linge
how do you reconcile your job as in Cameroon. Regardless, I thought and Jean Christian Bernard Nselel
legal advisor with your family life? that was the right move and what
AC : Being a woman and having to actually pushed me to take action
run a legal advising firm while also
managing my family, it is crucial to
have a support system. It is crucial to “What we have therefore decided
have a caring, understanding, and at-
tentive family. In my case, I am lucky to do is provide a different service,
one based on good ethics, diligent
enough to have a very understanding
husband who is also a very good
father. This allows me to be fulfilled
professionally, without feeling guilty work, and a reliable report to our
personally. That’s something I’m
lucky to have.
clients.”

27
PUBLIC MANAGEMENT
Government submits penal code
amendment, punishing tribalism, before
parliament
During the November 2019 budget from XAF5,000 to XAF500,000. This 3 million. If mitigating circumstances
session, the Cameroonian parliament fine is increased to XAF20 million are admitted, the prison sentence
will review a draft amendment to if the offence is committed via “the may be less than 3 months and the
the Penal Code. The purpose of this press, radio, television, social networks fine XAF200,000. These penalties are
amendment is to introduce provi- or any other means likely to reach the doubled when the offence is com-
sions punishing racial, religious and public.” These penalties are doubled if mitted by a public official, a political
tribal vilifications. the offence is committed to incite ha- party official, a media official, an
According to the draft text submitted tred and contempt between citizens, NGO or a religious institution.
to parliamentarians for consid- the draft indicates. This draft text appears as a response
eration and adoption, racial and As far as tribal vilification is con- to the hateful and tribal speeches
religious vilifications will now be cerned, the offence is punishable by in Cameroon, mainly on social
punishable by prison terms ranging imprisonment of one to two years, networks, since the October 2018
from 6 days to 6 months, with fines with a fine between XAF300,000 and presidential election.
Refugee assistance: Cameroon obtains over

XAF77 billion from World Bank
On November 19, 2019, in Yaoundé,
four projects funded by the “the
IDA18 regional sub-window for
refugees and host communities” were
officially launched.
According to Abdoulaye Seck,
Country Director of World Bank
operations in Cameroon, the total
financing amounts to $130 million
(a little over XAF77 billion), includ-
ing $86 million (Over XAF51 billion).
“It is important to recall here that
Cameroon was the first African coun-
try to benefit from the IDA 18 special
refugee window. This is in recognition
of the country’s generosity and its long
tradition of solidarity and hospitality income-generating activities for poor level, where the same organizations
towards displaced people,” Abdoulaye and vulnerable households will enable and community relays can facilitate
Seck said. them to bear the direct and indirect different activities. The objective is
Specifically, in the framework costs associated with these services,” that the sum of the efforts should be
of the projects launched, “basic the country director explained. greater than the fragmented efforts,
services such as education, health “To this end, the four projects will and this, for a maximum impact on
and nutrition will be provided to have to be implemented together at the communes and host populations,”
populations, while cash transfers and all levels, especially at the communal he indicated.

28 PUBLIC MANAGEMENT
National dialogue: The AU, la Francophonie,

and the Commonwealth inquire about the
implementation of recommendations
Paul Biya, President of Cameroon, can count on the constant support It has been almost three years since
received on November 27, in and accompaniment of the African a socio-political crisis broke out in
Yaoundé, a joint mission of three Union, the Francophonie, and the northwestern and southwestern
international organizations, led Commonwealth in its efforts to resolve Cameroon. The said crisis began with
respectively by the President of the the crisis in the North-West and South- corporate demands from lawyers
African Union Commission Moussa West,” the Presidency reports. and teachers but turned into violent
Faki Mahamat, the Secretary-General “We believe that we have an obliga- separatist claims with armed groups
of International Organisation of tion to contribute modestly through spreading death and desolation.
La Francophonie (OIF) Louise advice, interventions in mediation According to the United Nations
Mushikiwabo and the Secretary- activities or on technical subjects such High Commissioner for Refugees,
General of the Commonwealth as bilingualism and multiculturalism,” 21,291 Cameroonians fled violence
Patricia Scotland. said Louise Mushikiwabo. Patricia and fights between secessionists
According to the Presidency, this Scotland, for her part, said that the and the army, towards Nigeria. The
mission came to inquire about Commonwealth is committed to NGO International Crisis estimates
developments of the situation in the doing everything possible to support that about 2000 people died after
English-speaking regions (North- the ongoing peace process initiated 20 months of fighting. The UNICEF,
West and South-West) and on the through National Dialogue. “The on its part, indicates that the
implementation of the recommen- President of the Republic has once widespread insecurity has forced
dations of the National Dialogue again expressed his willingness to more than 4,400 schools to close in
held from September 30 to October engage in dialogue and appeasement,” the English-speaking regions of the
4, 2019. “Overall, it appears from the president of the African Union country.
their interventions that Cameroon Commission added.

PUBLIC MANAGEMENT 29
Cameroon: Inflation could rise to 2.7% due to

currency crisis, insecurity and flood
In Cameroon, according to a note will be an increased shortage of in the country. Currently, it is 2.3%,
recently published by the national cereals (maize, rice, millet, sorghum), having gained 1.8% in H1 2019, 1.4%
institute for statistics INS, inflation onions, beef, etc in markets. in Q1 2019 and 1.1% at end of 2018.
could rise further at the end of the “In view of these factors, as the end of The three main components
year. This is due to real threats of a the year approaches, and in the ab- responsible for this inflation are food
slowdown in the economy due to the sence of measures taken to curb, in the products, restaurants, and hotels, as
tightening of conditions for capital more or less short term, the currency well as clothing and footwear. Prices
outflow, as well as persistent insecu- crisis and speculation, inflation could of imported goods are rising sharply,
rity in some regions. reach around 2.7% by the end of 2019,” probably due to malfunctions in the
In the Far North, in particular, the the INS notes. distribution chain, partly caused by
INS indicates, because of floods The Institute points out that, on the currency crisis.
that destroyed crops, hundreds of average over the past 12 months,
livestock and grazing land, there inflationary pressures have persisted
Gender equality: Cameroon among medium

countries in Africa with global score of 0.59
out of 1 (McKinsey)
On November 26, 2019, on the Mauritania, Mozambique, Tanzania, legal protection of women’s rights
sidelines of the Global Gender Togo, Uganda, and Zambia are the in politics; 0.78 on protecting the
Summit 2019 (November 25-27) in countries with medium inequality integrity of women; 0.62 on gender
Kigali, Rwanda, the McKinsey Global between genders. Their scores are inequalities in society; 0.52 on access
Institute, McKinsey’s independent improving towards parity at work to professional and technical occupa-
research institute, presented its 2019 and in society, compared to other tions, etc. Cameroon’s final score for
report on gender equality in Africa African countries. gender parity is 0.59 to 1.
entitled “The Power of Parity.” Cameroon’s scores according to the The continent’s leading countries are
According to the presentation, McKinsey Global Institute are 0.53 South Africa (0.76), Namibia (0.72),
Cameroon, Democratic Republic out of 1 on parity at work; 0.71 on Rwanda (0.69), Zimbabwe (0.66) and
of Congo (DRC), Ethiopia, Gabon, opening up the formal and infor- Lesotho (0.64).
Ghana, Kenya, Madagascar, mal economy to women; 0.35 on

Paris Peace Forum: Paul Biya explains the

background of the Anglophone crisis
Invited by his French peer, different. So, we have had conflicts manitarian crisis has been worsen-
Emmanuel Macron, to partici- that are being resolved at the moment ing, pushing more people into exile.
pate in the Paris Peace Forum to keep the part of my country that Currently, there are nearly 42,000
2019 (November 11 to 13), was under British colonization under Cameroonian refugees in Nigeria and
Cameroonian President Paul Biya a specific status,” Paul Biya explained. 530,000 internally displaced persons.
actively participated in a debate “We had the possibility of integrating International Crisis, an NGO,
session moderated by Mo Ibrahim the English speakers [Anglophones] reported nearly 2000 deaths after 20
on the theme: “Rise of the south: directly into the Francophone system, months of fights between pro-inde-
towards a more balanced global which was predominantly used by pendence extremists and defence
governance system.” 80% of our people but, I believe that forces.
countries are now concerned about Despite the organization of a
“My country is complex. We were affirming their identity and that is national dialogue on this crisis ( from
first a German colony. After the First why we are setting up a special status 30 September to 4 October 2019 in
World War, Germany lost its colonies, that recognizes the specificity of the Yaoundé), the EU expresses its con-
which were shared between Great English-speaking area, but it remains cern and strongly condemns the per-
Britain and France, and my country an integral part of Cameroon,” the sistence of violence, against civilians
was divided. Some were under British president added. particularly, and the level of insecuri-
colonization and others under French ty in the North-West and South-West.
colonization. The result has been a jux- PREDATORY CRIME “Many serious human rights violations
taposition of culture and civilization Since October 2016, the Anglophone continue to be reported and predatory
that makes things quite difficult. Well, regions (the North-West and South- crime has increased,” the European
we have done everything we can to put West) of Cameroon have been going Union council indicated.
the two languages, English and French, through a violent pro-independent SA
on an equal footing but, the mindsets, socio-political crisis. According to
as well as the judicial systems, are the European Union (EU), the hu-

CEMAC: Central bank recorded 52% drop in

its net free equity in 2018
According to official documents national treasuries as a loss. On the strong guarantees.
obtained by Ecofin Agency on other hand, the vast majority of the The challenge is that these type
the sidelines of the extraordinary investments made by the institu- of financial products, located in
summit of CEMAC heads of state, the tion have expired and the capital developed markets, are so much in
net free equity of the Bank of Central gains they generated are no longer demand by many investors that their
African States (BEAC) has declined available. returns have fallen. For the institu-
by 52% in 2018. The institution’s 2019 financial tion, there is a need to urgently think
Two main reasons are put forward results should provide more detail about the issue.
to justify this situation. On the and precision. But central bank The Beac is still being solicited by
one hand, BEAC, which plans to officials believe that recovering free some CEMAC institutions to solve
strengthen its existing cooperation equity capital to its pre-2018 level their financing problems. In addition,
with international financial actors, remains quite difficult. This is due to it needs to reassure States that it can
has optimized the way it calculates the decline in income from foreign effectively assist them in investing
its exposure to States. Because of this assets. In accordance with its articles the surplus on their net foreign
optimization, the BEAC recorded of association, BEAC is obliged to assets.
XAF212 billion of receivables held in invest in financial products with
CEMAC: Heads of state committed to

stable currency but open to “possible
developments” in monetary cooperation
At the end of the closed-door extraor-
dinary meeting held on November
22, 2019, in Yaounde, CEMAC Heads
of State expressed their commitment
to a stable currency. This choice
does not come as a surprise since in
his opening speech, Paul Biya, the
host of the event, indicated that a
monetary adjustment was not on the
agenda because of the improvement
of the foreign currency reserve.
Nevertheless, the Heads of State management of the refinancing of by the Heads of state, it seems that
opened ways for “possible devel- securities issued by private compa- the presidents want to bring a dose
opments” in policy and monetary nies operating in the non-financial of realism to the achievement of
cooperation. Once again, they sector. There is a new point, however. budgetary consolidation objectives.
entrusted the BEAC with the task of Indeed, the presidents indicated Countries whose economic pro-
making proposals in that regard as that they were open to discussions grammes with the IMF have come to
soon as possible. in the framework of the monetary an end may be able to renew it.
As far as monetary policy is con- cooperation agreements between Let’s recall that these resolutions
cerned, the BEAC is already explor- the subregion, the Euro and France take place in an uncertain environ-
ing the field and should publish a re- but, it is difficult to know what the ment for the world economy and
port soon. The report should include points of arbitration were during the less than 3% growth forecasted for
actions to strengthen the stability session. CEMAC.
of the banking sector, and also the As for the other issues discussed

Douala and Yaoundé land XAF2.7 bln grant

agreement for their “Sustainable Urban
Mobility Plans”
On November 22, 2019, Hans-Peter
Schadek, Head of the European
Union Delegation in Cameroon and
Nikolaos Milianitis, Head of the
European Investment Bank’s (EIB)
Regional Representation in Central
Africa, concluded a three-day work-
ing visit to Douala.
According to the European Union
delegation, during his stay, Hans-
Peter Schadek signed a grant agree-
ment to support the urban commu-
nities of Yaoundé and Douala, which
are in partnership with the city of
Bordeaux in France, for the imple-
mentation of the “Sustainable Urban
Mobility Plans.” The aim of these
plans, supported by the European
Union with a tune of XAF2.7 bil-
lion, is to improve local govern-
ance in the field of urban mobility
particularly. cities (Yaoundé and Douala). In was suggested. The construction of
The European Union supports these the framework of these plans, the feeder roads, penetrators and a series
plans via the creation of a governing creation of a mass urban transport of roads are also planned in the
body for the transport sector, an system in the form of a cross with a framework of the “Sustainable Urban
urban mobility observatory and an North-South and an East-West axis Mobility Plans.”
urban planning agency in the two as the main public transport axes
Cameroon acquires software to check

traceability information on a range of
products
The Cameroonian Ministry of wines and spirits in accordance the product on which it is stamped is
Commerce informs that its fraud with Decree No. 2010/0483/PM of 18 considered to be of dubious origin.
prevention and control units have March 2010, setting the procedures “At the end of this operation, a large
just received smartphones and for labels on some manufactured quantity of wine and liquor was seized
tracking software to improve control products. and transported to the Ministry of
techniques for some manufactured With the said tracking software, Commerce. These operations reflect
products, including wines and spirits. fraud prevention and control units public authorities’ commitment to
These teams were deployed can trace the information on the fighting all forms of illegal trade and
on November 14-15 in Douala, sticker from purchase to its final des- unfair competition,” the ministry
Bafoussam, and Yaoundé to ensure tination. If there is no accurate trace- indicates.
the conformity of the stamping on ability information on the sticker,

Port of Kribi: French Navy command and

supply ship BCR “Somme” docks in prelude
to naval exercise in the Gulf of Guinea
As a prelude to a naval exercise area. The exercise addresses several call at the port of Kribi is unprece-
currently being prepared in the Gulf threats including pollution, piracy, dented because the port itself is new.
of Guinea, the French Navy com- illegal trafficking and rescue at sea,” “This is a diplomatic stopover in
mand and supply ship BCR “Somme” said Gauthier Dupire, Commander of prelude to commercial stopovers for
recently docked at the port of Kribi. the BCR Somme. the transport of military equipment.
“We docked at the port of Kribi as a Captain First Class Charles René Indeed, there is a number of military
prelude to a major exercise that will Kontelizo, Commander of the Port of equipment that has hitherto transited
take place throughout the Gulf of Kribi, said that as part of the marine through the port of Douala, which
Guinea, from Angola to Senegal. It is a cooperation between Cameroon and will now pass through Kribi to the
response to a process launched here in friendly States, Cameroonian ports Central African Republic, Chad and to
Cameroon in 2013, dealing with mar- regularly receive military vessels. neighboring countries,” Commander
itime safety in the above-mentioned However, he said, the French Navy’s Kontelizo added.
Business death rate was 36% in 2009-2016,

the INS reveals
The Cameroonian national institute
for statistics INS recently published a
report on the second business census
covering the 2009-2016 period.
This report provided an up-to-date
picture of the productive fabric and a
complete basis for business surveys
in the country.
According to the report, out of 6,458
companies recorded at the start
of the period, it appears that 2,316
ceased activity during the intercensal
period. Almost all (approximately
95%) of those companies that ceased
activity during the period had done
so before 2014, the INS reveals. “This micro-companies. regions (12 in total) were grouped
puts the overall cessation rate at near- The Littoral concentrates a little into six economic regions. Just over
ly 36% over the period under review,” more than 64% (1,495) of the 60% of the companies that have
the INS writes. companies that ceased operations ceased operations are located in
The survey reveals three fundamen- during the period under review. Douala and nearly 20% in Yaoundé.
tal causes of this cessation rate. In It is respectively followed by the The “West and North-West” eco-
order of importance, the size of the Central (484), the Western (135) and nomic region has the third-highest
company seems to be the variable Northwest (42) regions respectively. number of business terminations
that most influences activity ces- On the other hand, the East (35), (7.4% of companies having ceased
sation. Indeed, compared to Large Adamaoua (29), Southwest (24), operations). This result, according to
Companies, medium-sized compa- North (23), South (21) and the Far the INS, is not surprising given that
nies have almost 20% more chance North together represent nearly 8% these three regions concentrate most
of ceasing operation while the risk is of the extinct units. of the country’s productive fabric.
31% for small businesses and 39% for For analytical purposes, the surveyed

Legislative and municipal elections

scheduled for February 9, 2020
In a decree published on 10 just over a year after the presiden- ing called in a context marked by the
November 2019, Paul Biya, presi- tial elections of October 2018, have Anglophone crisis, which has led to
dent of Cameroon, summoned the been postponed twice. Indeed, as the recent organization of a national
Cameroonian electorate for a double authorized by law, in 2018 and June dialogue. One of the main resolutions
vote, on 9 February 2019, aimed at 2019, the Head of State extended the of this great dialogue is the establish-
electing town councilors for the mandates of deputies and municipal ment of stronger decentralization,
country’s 360 municipalities and 180 councilors elected during the 2013 meaning the transfer of greater
deputies for the National Assembly. elections. responsibilities to local authorities.
These elections, which take place The February 2020 elections are be-
FECAFOOT invited to elaborate draft scale

for bonuses to be paid to national teams for
major sporting competitions
“Draft scale of bonuses to be paid to
Cameroon’s national football teams”;
This is the subject of the letter sent
by the country’s minister of sports
Narcisse Mouelle Kombi to the presi-
dent of Cameroon’s football federa-
tion (FECAFOOT) Seidou Mbombo
Njoya (photo) on October 22, 2019.
In the letter, the minister indicates
that it is another request to establish
scales of bonuses to be paid to teams
for major competitions. These in-
clude continental qualifying rounds,
the African Cup of Nations (AFCON),
the World Cup, the African Games,
and the Olympic Games.
“The proposed bonuses must be scaled
proportionally so that they remain an
additional element of motivation for
the athletes concerned,” the official
instructed.
In addition, the President of Fécafoot
is invited to present measures
taken to avoid tensions, disputes,
and claims related to sponsorship
revenues.
The Minister of Sports thus hopes to national team and the Fécafoot were were scheduled to play their first
prevent the repeated crises observed unable to agree on the remuneration match because of unpaid bonuses.
among Cameroon’s national football related to this competition. In addi- This has often had a negative impact
teams regarding the payment of tion, in the past, Cameroon’s football on players’ individual and collective
bonuses. At the 2019 CAF Africa Cup team was used to arriving in host sporting performance.
of Nations in Egypt, for instance, the countries the very same day they

Cameroon’s withdrawal from AGOA stems

from “ignorance or deliberate desire to ignore”
reality on the ground, minister Sadi says
On November 18, 2019, René desire of the United States govern- tains that Cameroon is only ensuring
Emmanuel Sadi, Cameroonian ment,” Sadi said. the safety of people and property in
minister of communication, held According to the Minister of the regions concerned.
a press conference in Yaoundé. Communication, the Cameroonian “How can one accuse Cameroonian
During the press conference, the government can say that these defence and security forces of human
official reacted to the decision reasons put forward to justify the rights violations (…) but remain
issued, on October 31, 2019, by decision of American authorities insensitive and silent in the face of the
Donald Trump, President of the hardly correspond to the reality on unspeakable atrocities committed on a
United States of America, to ex- the ground. The reason provided daily basis by armed pro-independent
empt Cameroon from the facilities stem, the Cameroonian government groups in the North-West and South-
provided by the African Growth thinks, either from “ignorance or West” regions of the country, the
and Opportunity Act (AGOA) as of unawareness of the real situation, as it government spokesman questioned.
January 1, 2020. has prevailed and still prevails in the According to the official, the
North-West and South-West; or from a Cameroonian government cannot
This withdrawal, according to the US deliberate desire to ignore this reality.” hide its astonishment due to the
president, is motivated by “persistent absence of any reference (let alone
gross violations of internationally rec- TERRITORIAL INTEGRITY condemnation), in the US presi-
ognized human rights” by Cameroon. In any case, says Emmanuel René dent’s release, to the “countless and
“The Cameroonian government esti- Sadi, the main reasons that have innumerable” atrocities perpetrated
mates that Cameroon’s eligibility for forced the Government of the by pro-independent armed gangs
AGOA was a sovereign decision of the Republic of Cameroon to ensure a in the North-West and South-West,
U.S. government, so much so that the significant presence of defence and against defence forces and innocent
government’s decision to withdraw security forces in the North-West and populations, even though many
Cameroon’s benefits from this law is South-West regions are to preserve images and videos, on media and
an act of sovereignty that no one can Cameroon’s territorial integrity social networks particularly, con-
dispute. However, what is questiona- against separatists who took arms stantly testify to this.
ble in our view are the pretexts and against the Republic. In addition, the
reasons given to explain or justify this Minister of Communication main-

Cameroonian Joseph Belibi appointed acting

speaker of OIF’s court of first instance
The Cameroonian high judge Joseph Advocate General at the General OIF’s court of the first instance is
Belibi was appointed Acting Speaker Prosecutor’s Office of the Supreme composed of a President, appointed
of the Court of First Instance of the Court of Cameroon and Judge at the by the permanent council of La
International Organisation of the Court of Justice of the CEMAC. Francophonie, and two assessors of
Francophonie (OIF). This was during Until January 2019, the said in- different nationalities, chosen from
the 36th Ministerial Conference of stance was presided by another outside the Organisation’s staff and
the Francophonie (CMF) held on Cameroonian: Jean Fouman Akame. appointed by the Secretary-General.
October 30 and 31 in Monaco. After his death, the then substitute They are appointed for a renewable
A renowned magistrate, Joseph Belibi assumed the offices of the president 4-year term.
served as Secretary-General of the leaving the substitute Presidency
Cameroonian Ministry of Justice, vacant.
The International Labour Office assesses the

achievements of a Youth Entrepreneurship
Promotion Programme it backed
François Murangira, the International
Labour Office’s country director for
Cameroon, Equatorial Guinea, and Sao Tome
&Principe conducted a tour from October
29 to November 2, 2019, to assess the
achievements of the Youth Entrepreneurship
Promotion Programme (YEP), a government
programme initiated by Cameroon.
In the framework of the YEP programme,
Cameroon requested ILO’s technical
assistance for the implementation of two
sub-components. These include improve-
ment of the business environment in the
agro-pastoral sector and strengthening
the entrepreneurship competencies of the
programme beneficiaries’ trainers and
supervisors.
According to the ILO, the field visit is aimed
at reviewing the programme’s achievements
and gather beneficiaries’ feedbacks.
At the end of this tour, François Murangira,
who was accompanied by officials from
the YEP, the Ministry of Agriculture, the
Ministry of Livestock and the Ministry of
Economy, reaffirmed the ILO’s commitment
to continue providing technical support for
the promotion of decent work through youth
agropastoral entrepreneurship.

76% of export revenues generated

by 6 products in 2018
Most of Cameroon’s exports are still According to the figures, crude oil and cotton.
constituted of a reduced number helped the country generate 40.8% of Forestry products, on the other hand,
of products. Indeed, according to its export revenues during the period accounted for 13.2% of Cameroon’s
figures published by the national under review while LNG generated export revenues in 2018. In detail,
institute for statistics (INS), in 2018, 5.9% of the said revenues. sawn wood accounted for 7.5% of
the country generated 76.5% of its ex- Next, are agricultural products with those exports revenues, compared to
port revenues from just six products 11.1% and 5.5% of export revenues 5.7% for raw log.
Oil products are on the top of the list. respectively generated by cocoa
Cameroon borrows XAF12.6 bln from

Deutsche Bank Spain to develop the Yaoundé
municipal lake
On November 4, 2019, Cameroonian
President Paul Biya issued two
decrees habilitating the Minister of
Economy to sign two credit agree-
ments for a total amount of XAF12.6
billion with Deutsche Bank Spain.
In detail, the first agreement is a
buyer credit. It involves an amount
of XAF9.03 billion to fund the tourist
and economic development project
of the Yaoundé municipal lake. The
second agreement is a commercial
credit amounting to XAFF 3.6 billion,
also intended for Phase 1 of the same
project.
Launched in 2016, the project con-
sists, among other things, in cleaning
up and sanitizing the lake’s waters,
installing water sports equipment,
developing its banks, and building a
five-star hotel and world-class restau-
rants, shops, as well as a relaxation
and leisure area on its surroundings.
All this work is being carried out by a
Spanish company called Acciona.
Let’s note that on 13 September 2016,
Deutsche Bank Spain, represented
by Antonio Navarro Escabias, signed
two loan agreements in Yaoundé for
a total amount of XAF21 billion for
this Phase 1.

Trade and Investments: The US largely

outrun by China in Cameroon, in 2018
The task is likely to be complicated (African Growth and Opportunity es, China has also become the
for the United States, which wants Act), the United States ranks 12th largest investor in the country of
to become Africa’s leading eco- and 6th respectively with 2.6% of the Paul Biya. Data from the United
nomic and trade partner, a rank country’s exports and 3.6% of im- Nations Conference on Trade and
currently taken by China. The situ- ports. In 2018, Washington’s purchas- Development (UNCTAD), Yaoundé,
ation in countries like Cameroon es and sales of goods and services indicated that “between 2000 and
is a good example of the daunting in Cameroon was worth more than 2014, Cameroon captured XAF2750
task awaiting The United States of XAF122 billion and XAF107 billion billion in foreign direct investment
America to fulfill its ambition in respectively. (FDI), including XAF1850 billion from
Africa. China. This represents about 67% of
INVESTMENTS the FDI entering Cameroon.”
Today, China is both the largest cus- China is also the largest donor in “The other FDI came from countries
tomer and supplier of Cameroon, a Cameroon. According to figures pub- such as France, the United States,
pivotal country in the Gulf of Guinea, lished by the country’s debt amorti- and Nigeria,” the presidency of the
declared as a “zone of vital interest” zation fund (CAA), in April 2019, out Republic of Cameroon indicated.
by the United States. According to of an outstanding external debt of In 2018, the FDI from the USA in
the national institute for statistics XAF5772.8 billion, XAF1627.7 billion, Cameroon amounted to $14 million
(INS), in 2018, China purchased and or nearly 30% of the total external (about XAF7.8 billion). According to
sold goods and services worth more debt, was owed to China. the US Department of Commerce,
than XAF469 billion and XAF628 In March 2018, the Presidency of the this figure is up by 55.6% compared
billion in Cameroon. Beijing, there- Republic of Cameroon stated that the to the FDI in 2017. In that year alone,
fore, controls 22.2% of Cameroon’s country “is the second-largest African China claimed to have invested $88
total export volume and 18.5% of its beneficiary of Chinese financing.” On million (XAF51 billion) in the same
import volume. the other hand, the United States is country.
According to the INS, despite the not on Cameroon’s list of bilateral
trade facilities offered to African creditors. Aboudi Ottou
countries, notably through the AGOA According to the same sourc-

Cameroon to launch XAF18 bln water supply

and sanitation project in 2020 to improve
access to drinking water
In 2020, the rural water supply With a total budget of XAF18 billion, a period of 4 years, will help im-
and sanitation project will launch this project will build 80 water towers prove access to drinking water in
works to provide drinking water to with a combined capacity of 8900 cubic Cameroon. In 2018, a study by the na-
60 Cameroonian villages. This was metres, 995 standpipes and 242 km of tional institute of statistics indicated
revealed during the first session of piping. There are also plans to install that this access ration was only 45%
the government project’s steering solar panels in pumping stations. in rural areas, compared to about
committee. This project, which will run for 77% in urban areas.
Vietnam moves to strengthen its presence

in Cameroon
Last week, Voung Dinh Hue, head of the Vietnamese delegation the first operator to obtain 3G in
Vietnam’s Deputy Prime Minister, did not hide his country’s inten- Cameroon, has been at the centre
led a large delegation of Vietnamese tion to strengthen its presence of a battle between the Vietnamese
economic operators to Cameroon. in Cameroon, in the rice sector group Viettel Global, its majority
On 1 November 2019, the delegation particularly. shareholder, and Cameroonian bil-
met with Cameroon’s Prime Minister According to authorized sources, one lionaire Baba Danpullo, the minority
Joseph Dion Ngute. of the main reasons for this visit is shareholder because each of the two
Although no major announcements the Nexttel case. Indeed, for several partners wanted to take exclusive
were made following this visit, the months, this mobile phone company, control of Nexttel.

40
FINANCE
CEMAC: IMF and BEAC to discuss
cooperation axis for regional capital market
development
From December 2 to 6, 2019, the reference, areas of interventions on revenues) that BEAC used to grant
IMF’s Regional Technical Assistance which Afritac Centre could support to CEMAC member countries. The
Center for Central Africa (Afritac BEAC’s efforts to develop the region- Bretton Woods institution encour-
Centre) will conduct a mission at the al financial market will be identified aged the member countries to have
Bank of Central African States (Beac) and agreed upon during the period. recourse to alternative financing
headquarters in Yaoundé, Cameroon, Let’s note that this market is methods to fund their economies
in the framework of its technical supposed to compensate for the and in that regard, it welcomed the
assistance programme concluded discontinuation, at the IMF’s request efforts made by sub-regional au-
with the BEAC for capital market in the framework of a sub-regional thorities to create a unified financial
development. crisis response strategy, of the stat- market.
According to the mission terms of utory advances (20% of their budget
Morrocan Wafa Assurance extends its

footprint in Cameroon with acquisition
of Pro Assur
On November 12, 2019, Moroccan
insurance firm Wafa Assurance
officially announced the finalization
of the acquisition of the Life and non-
life divisions of Cameroonian insurer
Pro Assur.
Thanks to this double transaction,
which began in April 2019 with the
signature of an agreement between
the two parties, “Wafa Assurance Vie Cameroun, this company was footprint in the Cameroonian insur-
acquires 65% of voting rights shares of solely operational in Douala. It ance sector.
Pro Assur SA and controlling interest notably distributes its bancassurance Indeed, in March 2014, before Wafa
representing 89.4% of the shares and products through the sales network Assurance’s arrival in Cameroon
voting rights of Pro Assur Vie,” official of SCB Cameroun, a subsidiary in 2016, Moroccan insurer RMA
sources report. of the Moroccan banking group Watanya had already acquired
This operation, approved by super- Attijariwafa, which is also the parent 38% of the capital of the two local
visory and regulatory authorities in company of Wafa Assurance. subsidiaries of Ivorian group Belife
Cameroon as well as in Morocco, The acquisition of the Life and non- Insurance, Beneficial Life Insurance
according to Wafa Assurance, life branches of the Cameroonian in- SA Cameroon and Beneficial General
allows Wafa Assurance to strengthen surer Pro Assur not only allows Wafa Insurance SA Cameroon namely.
its position in Cameroon. Assurance to start its coverage of the They were bought at XAF3.1 billion
In operation since June 2016, through Cameroonian territory but also, and (about $6.2 million).
its subsidiary Wafa Assurance above all, to strengthen Morocco’s

FINANCE 41
UBA promises more credit for female SME

owners
During the ongoing Global Gender guarantees (...). There will be a 50% these loans. He also indicated that
Summit (November 25-27, 2019) in increase in credits within a year,” UBA the interest rate will be lower than
Kigali, Rwanda, Nigerian banking Group’s representative Babatunde the market rate so that risk will be
Group UBA promised to increase Ajayi (photo) explained. “If for in- reduced.
credits granted to female small stance, we give about $20 million The President of the African
and medium business owners in loans a year, we want to increase it Development Bank (AfDB),
Cameroon. This increase, according to at least $30 million the following Akinwunmi A. Adesina, commented
to the group falls within the frame- year and $40 million the year after,” he on UBA’s commitment and deplored
work of the launch of AFAWA, a fund added. that 70% of women in Africa are
dedicated to women in Africa. Mr Ajayi also explained the mecha- not financially included. Yet, these
“The risk will be shared with nism for granting and repaying these women, who represent the majority
other partners [AfDB, Ecobank, loans: “You must review the cash flow of farmers, still face a financing gap
Attijariwafa, African Guarantee and economic cycle of the projects to of nearly $16 billion.
Fund]. We will, therefore, be able to be financed. That is how we decide That is why, he explained, the AfDB
give more credits. By asking for fewer and it will not be too restrictive. For has launched AFAWA to initially
guarantees, we will be very creative those who need up to one year for re- mobilize $3 billion of new loans that
and will explore financing opportu- payments, we can give them two years,” banks and financial institutions will
nities based on companies’ cash flow Mr Ajayi said explaining the mecha- provide to women in Africa.
rather than depending solely on the nism for granting and repayment of
Crédit du Sahel-backed UNHCR programme

plans to empower 2,500 refugees
in Cameroon
In Cameroon, the UNHCR has It is backed by Crédit du Sahel, a Let’s note that Cameroon hosts
launched a refugee empowerment microfinance institution well-estab- about 340,000 refugees on its
programme aimed at funding in- lished in Northern Cameroon. territory. This contingent is mainly
come-generating activities initiated To date, according to sources close composed of Central Africans who
by refugees living in Cameroon. This to the programme, 15 community have fled political instability in their
programme plans to empower close initiative groups (CIGs) have already country, and Nigerians who have
to 2,500 refugees so that they can received funding under this project left their villages due to abuses of
cater to their needs and families’. in Yaoundé and Douala. Islamist sect Boko Haram.

42 FINANCE
Investment fund Africa50 interested in the

Cameroonian gas and airport sectors
On the sidelines of the 2nd Africa of gas; I raised the idea with authori- The commissioning of the first
Investment Forum organized by ties to try to gasify the Cameroonian turbine at Nachtigal is scheduled
the African Development Bank economy a little more because gas is for September 2022, and that of
(AfDB), from 11 to 13 November in transitional energy. We have the ambi- the entire structure towards the
Johannesburg, South Africa, Alain tion to invest in Cameroon as soon as end of 2023. The plant will produce
Ebobissé (photo), Managing Director there are projects,” that meet stand- more than 2,900 GWh/year. The
of the investment fund Africa50, said ards, the Africa50 executive said. investments for this project were
that after the hydropower sector, Africa50 is an infrastructure invest- raised in the form of a public-private
the organization he leads has new ment platform launched in 2014 by partnership with the participation of
ambitions for Cameroon. the African Development Bank and Cameroon as well as internationally
“We have an appetite to invest more in 28 African states, with an initial cap- renowned technical and financial
various sectors in Cameroon. I spoke ital of $830 million (nearly XAF490 partners such as Electricité de
to the Cameroonian authorities, on billion). In Cameroon, this fund France (EDF), International Finance
the instructions of the President of the has already invested in the XAF786 Corporation (IFC), Africa50 and
Republic [ed.note: Paul Biya]. Look billion Nachtigal dam construction STOA Infra & Energy.
at the airport sector: it’s an area we’re project (420 MW), located 65 km
interested in (…) Cameroon has a lot north-east of Yaoundé.
Afreximbank to open its branch in Cameroon

to cover the Central African region
The information has not received According to the minister, the companies and institutions.
much publicity but, it means a audience was about the launch, in In January 2018, for instance,
lot for Cameroon. Indeed, on Cameroon, of Afreximbank’s subsid- in partnership with the African
October 29, 2019, Félix Mbayu, iary for the Central African region. Development Bank (AfDB),
Minister Delegate at the Ministry He provided no further information Afreximbank provided a loan of
of External Affairs in Charge of the but this subsidiary will probably be about XAF25 billon, with guarantees
Commonwealth, received a delega- opened in Yaoundé. from the Cameroonian government,
tion from Afreximbank led by Gérard Since its creation in 1994, the Cairo- to boost the activities of Société des
Chihota, head of the secretary unit based Afreximbank has already plantations de Mbanga.
of this financial institution’s board of approved several billion CFA Francs
directors. of credit facilities for Cameroonian

FINANCE 43
Cameroon confirms its status of CEMAC’s

financial center
The latest bond, whose issuance
period ran from September 20 to
October 2, 2019, by Gabon recorded a
126% subscription rate.
With the authorization of the Central
African Financial Market Supervisory
Commission (Cosumaf), and at
Gabon’s request, the additional
XAF26 billion was also allocated to
the borrower. The amount finally
pocketed by Gabon at the end of the
operation was XAF126 billion instead
of the initial XAF100 billion it sought.
According to the results revealed
by Cosumaf, the success of this
Gabonese 5-year (2019-2024) bond,
with an interest rate of 6.25%, is
mainly due to Cameroon-based
investors who provided 60% of the
required funds.
In detail, three banks in Cameroon,
including Afriland First Bank, UBA
and SCB, provided 59.4% of the total
amount through underwriting. The
rest consists of subscriptions from
physical and legal persons under
Cameroonian law. financial institutions, companies, on the BEAC’s public securities mar-
and other investors. ket, ASCA is also the lead arranger of
CAMEROON, A FINANCIAL the syndicate of underwriters set up
CENTRE SYNDICATE OF UNDERWRITERS for Gabon’s 2019-2024 bond issuance
This bond issuance, the very first Beyond the subscriptions, the whole operation.
on the unified financial market of fate of the last Gabonese public In addition, the asset manager of the
the Central Africa region, allows issuance was decided in Cameroon. Attijariwafa Bank group in Central
Cameroon to confirm its status as a It all began with the appointment Africa recruited three banks based
strong financial centre in the CEMAC of Attijari Securities Central Africa in Cameroon (Afriland First Bank,
region. (ASCA), created in Cameroon, in UBA and SCB), out of a total of
Let’s recall, in December 2013, February 2016, by Morrocan banking seven to constitute the underwriters’
Cameroonian investors had provided group Attijariwafa Bank, as the ar- syndicate.
XAF58.3 billion, nearly 70%, out of ranger of this fundraising operation.
the amount sought by Chad during The main non-bank investor active Brice R. Mbodiam
its 2013-2018 bond issuance.
In addition, Cameroonians sub-
scribed more than 50% of Chad’s first According to the results revealed by
ever bond issuance aimed at raising Cosumaf, the success of this Gabonese
XAF100 billion.
At the same time, authorized sources 5-year (2019-2024) bond, with an interest
at the Cameroonian directorate
general of treasury indicate, 85% of
rate of 6.25%, is mainly due to Cameroon-
subscriptions to public securities is- based investors who provided 60% of the
sued by CEMAC States on the central
bank BEAC’s market since the end required funds.
of 2010 are made by Cameroonian

44
AGRIBUSINESS
Cameroon elaborates 29 mandatory
standards for the agribusiness sector
Since November 10, 2019, the powder, frozen shrimps, canned For a better understanding of these
Cameroonian Standards and Quality salmon, frozen gutted and uncut fish, standards and to raise operators’
Agency ANOR has been enforcing 29 fermented soybean paste, and hot awareness about them, the Inter
mandatory standards for agri-food pepper-fermented soybean paste. Patronal Groupings of Cameroon
products. ANOR indicates that it will hence- GICAM suggests a collaboration with
These standards concern flavour en- forth participate in controls in ANOR for the organization of work-
hancers, edible cassava flour, whole markets together with the adminis- shops and seminars to sensitize its
corn flour, pearl millet flour, frozen trations concerned. “The products of members. In addition, the grouping
whole grain corn, vegetable protein any company found not to be com- intends to talk about the standards
products, durum wheat semolina plying with the said standards could to entrepreneurs and project leaders.
and flour, couscous, gari, a mixture be withdrawn from the market,” the
of skimmed milk and vegetable fat agency says.
Cocoa: Farmgate prices rise to XAF1,250

According to figures recently
revealed by Système d’informa-
tion de filières (SIF), a system
that provides updated informa-
tion about the coffee and cocoa
sectors, farm gate prices for
cocoa beans in production ba-
sins in Cameroon has reached
a maximum of XAF1,250 per
kilogram on November 21,
2019. At the beginning of the
month, it was XAF1,220.
This XAF30 increase in the
country’s production basins
comes at the end of the rainy
season and announces an
improvement in end-of-year
sales.
These prices reflect the growth
in demand, with the arrival of
new processors in the country.
One of those processors is
Neo Industry, which launched
its activities in the Western
region, and Atlantic Cocoa,
which is preparing to launch
its operations in the industrial
zone of Kribi deep seaport in
the Southern region.

AGRIBUSINESS 45
A 100-kg bag of onion now sold at

XAF120,000 in Yaoundé, more than six times
its former price
In Yaoundé, onions have become selling prices. in Yaoundé.

luxury products. Indeed, recently, According to the said retailers, a Operators justify this price increase
the price of this product has dou- 100-kg bag of onion previously sold with the end of the harvesting sea-
bled and nearly reached triple of its at about XAF20,000 some months son. According to them, the current
former price. Interviewed about the ago is now XAF120,000. This means price should remain within such
matter, retailers indicate that this is that within months, the price of limits until March-April 2020, the
because wholesalers have increased that product has increased six-fold next harvest season.
Cameroon provides XAF600 mln in

the Western region to boost livestock
productivity
In Cameroon, XAF622 million has nancial support are poultry farmers, Let’s note that Prodel is a govern-
been recently provided to poultry who are just recovering from the ment project funded to the tune of
farmers, beekeepers, aquaculturists bird flu outbreak that struck a few XAF50 billion by the World Bank
and other cattle and goat farmers in months ago in the Western region group. It is aimed at boosting pro-
the Western Region in the framework (the country’s leading poultry productivity in the country’s livestock
of the livestock farming development ducing basin that controls about 80% sector.
project Prodel. of this activity, according to official
The biggest beneficiaries of this fi- figures).

46 AGRIBUSINESS
Cameroon generated XAF72.5 mln of forest

revenue surplus in 2016-2019 thanks to
reports through the certified SNOIE scheme
From 2016 to 2019, reports of illegal part of their external independent ob- Bifa’a and their surroundings.
logging made through the ISO 9001- servation (OIE) activities,” the SNOIE The development and deployment
2015 certified Standard External explains in an information note. of certified SNOIE in Cameroon
Independent Observation System The said auctions took place follow- and its extension to Congo and the
(SNOIE) helped the Cameroonian ing forest control missions triggered Democratic Republic of Congo (DRC)
Ministry of Forests and Wildlife by five denunciation reports trans- were carried out with the financial
generate a surplus of XAF72.5 million mitted by SNOIE coordination to the support of the European Union,
of forest revenues. ministry of forests and wildlife (two FAO (through the FAO-EU-Flegt
“This amount was obtained by adding reports transmitted in 2016, one in programme), the Department for
up fines imposed on illegal forest op- 2018 and two others in 2019). International Development (DFID),
erators and the proceedings from the The reported forest irregularities Rainforest Foundation UK (RFUK) as
public auctions of illegally-cut timber were observed in Logbii, Bandevouri, well as the Centre for International
seized following denunciations made Ngoum, Ina, Manja, Wassaba, Oue Development and Training and its
by civil society organisations (...), as and their surroundings, as well as in partners.

47
INDUSTRY
Local company Codias to develop
Cameroon’s first industrial gold mine
On November 29, 2019, in Yaoundé, mining method and this exploitation tion, with the added value of creating
the Minister of Mines, Gabriel is planned for 5 years, with a produc- gold smelting units (ingot produc-
Dodo Ndoke signed an exploitation tion peak of 500 kg of gold/year in the tion) and jewellery factories, thus
agreement with Codias S.A for the 2nd year; the first year being devoted strengthening the national industrial
exploitation of the small Colomine to the development phase (construc- fabric.
gold mine (located in the Eastern tion of the mine and other mining On a social level, the government
region). facilities),” the Ministry of Mines expects the creation of many direct
During the signing ceremony, indicates. and indirect jobs, which will help
Bonaventure Mvondo Assam, pro- According to this institution, the reverse the youth unemployment
moter of Codias S.A, indicated that Colomine gold project will be the curve and fight poverty. Local small
his company is a mining company country’s first industrial gold mine, and medium-sized enterprises
under Cameroonian law. It holds, thus guaranteeing the traceability of (SMEs) (subcontractors and other
since January 5, 2017, a research per- the ore mined and making Cameroon local suppliers) will also have the op-
mit called Colomine, valid for gold a gold-producing country known on portunity to deliver their goods and
and related substances, covering the international mining scene. services. Another social advantage of
an area of 309 km2 in the Ngoura Moreover, this project will allow this project is the capacity building
district. the establishment of a mining value of local staff, the transfer of skills
“The mining method envisaged for the chain around gold. It will range and technologies to local workers
extraction of Colomine’s gold resource from on-site extraction to the local coupled with the training of students
is underground mining by the pillar processing of at least 15% of produc- from universities and institutions.

48
ITC & TELECOM

Cameroon and Gabon ink legal framework
for fibre-optics telecommunications
networks’ interconnection
On November 28, 2019, in Libreville,
Cameroon and Gabon signed a mem-
orandum of understanding for the
interconnection of their fibre-optics
telecommunications networks (CAB
4 and CAB 1 respectively).
The document was signed for Gabon
by the Minister of Communications
and Digital Economy, Rigobert
Ikambouayat Ndeka, and for
Cameroon by the Minister of Posts
and Telecommunications, Minette of understanding is to establish the gional cooperation and the mutu-
Libom Li Likeng. This was done general and legal framework for alization of the two signees’ digital
in the presence of representatives interconnection of the two countries’ infrastructures.
of the supporters of this project electronic communications networks Let’s note that this interconnection
namely, the World Bank Group, the and to set up a committee to imple- will reduce connectivity costs since
African Development Bank and the ment and monitor the memorandum there will be direct telecommuni-
International Telecommunications and subsequent agreements. cations exchanges between the two
Union. It also constitutes the materializa- countries with no international
The purpose of this memorandum tion of the strengthening of sub-re- submarine cables required.
With a turnover of XAF52 billion, MTN

Cameroon became the leader of the market
in Q4 2018
In Q4 2018, the combined turnover of billion from “other” services. “other” services.
telecom operators in Cameroon was The second operator with the largest Viettel was third with a turnover of
XAF131.9 billion, data provided by turnover generated during the said XAF15.8 billion, including XAF11.39
the telecom regulator ART indicates. quarter is Orange Cameroon. It billion from voice services, XAF4.16
MTN Cameroon realized the larger recorded sales amounting to XAF50.5 billion from data services and
part of this overall turnover dur- billion. Its detailed turnover is as XAF249.7 million from “other”
ing the period under review with follows; XAF29.29 billion from voice services.
XAF51.92 billion generated. In detail, service, XAF1.2 billion from data Camtel, the state-owned operator
the South African group’s subsidiary services (almost nine times less than was the last with a turnover of
generated XAF25.38 billion from MTN’s income from this category) XAF13.62 billion generated from data
voice services, XAF9.37 billion from XAF6.7 billion from Mobile Money and voice services.
data, XAF4.14 billion from Mobile services (over XAF2 billion more than
Money services and XAF13.024 MTN) and XAF13.39 billion from

ITC & TELECOM 49
Jumia is in a liquidation process

in Cameroon
Jumia, leader of the e-commerce
sector in Africa, is in a liquidation
process in Cameroon. This plat-
form, operational in the country
since 2013, is simply waiting to
complete its customers’ final
orders before packing up.
Without being more explicit, Jumia

mentions the immaturity of the
Cameroonian market for e-com-
merce as the reason prompting its
departure.
Jumia’s departure comes only 3 years
after Cdiscount’s. Indeed, the French
e-commerce site, owned by the
supermarket group Casino, launched
its activities in Cameroon in
December 2014 and stopped in 2016.
To justify its departure, Cdiscount
pointed out the long delays in the
transit of goods at the port of Douala,
as well as fierce competition from
local sites offering counterfeit or low-
end products at very low prices.
With Cdiscount gone, Afrimalin,
another e-commerce group, an-
nounced the launch of its activities in
eight countries, including Cameroon,
on September 15, 2016. Three years
later, despite the merger (in February
2018) of this classified ad site with
the Cameroonian operator Kerawa,
the results of Afrimalin’s expansion in
Cameroon are not that tangible.
The same goes for the French sources, investors withdrew from country to appear in the top 10
start-up Afrimarket, which, after Jumia, which also just threw in the of that index, owed its ranking to
Côte d’Ivoire, decided to launch an towel recently. higher than average scores in the
e-commerce business in Cameroon These departures of major e-com- four criteria on which this index
following a fundraising operation merce operators are, however, at was based, the UNCTAD indicated.
during which it raised €10 million the opposite end of the scale of These criteria are the number of
(about XAF6.5 billion) from interna- Cameroon’s assets and even its online shoppers, the security level of
tional investors. Unfortunately, since potentials in this sector. Indeed, in servers, ease of payment and the ease
September 2019, Afrimarket has its 2018 E-Commerce Index, released of delivery.
filed for its placement under judicial during the African E-Commerce All these advantages seem to be
liquidation before Paris court. Week, which took place in Nairobi, hindered by many other structural
Kenya, from 10 to 14 December 2018, realities that are clearly incompatible
A GIANT WITH THE FEET OF the United Nations Conference on with the emergence of a real e-com-
CLAY Trade and Development (UNCTAD) merce market in the country.
Afrimarket’s adventure in Africa and reveals that Cameroon is now the
in Cameroon particularly, lasted only 10th African E-Commerce Market. Brice R. Mbodiam
a few years. According to credible Cameroon, the only Central African

50 ITC & TELECOM
Cameroon launches mobile money services’

aggregation platform to boost financial
inclusion
Minette Libom Li Likeng, the the above-mentioned decree.” market. Let’s note that microfinance
Cameroonian Minister of Posts and Therefore, Mr. Zo’o Zame invites company Express Union Finances,
Telecommunications signed on network operators and electronic has regularly referred cases to the
26 November, a decree setting the communications services providers Ministry of Posts and telecommuni-
conditions and operating rules of to interconnect to it, within 30 days cations accusing MTN and Orange
the Unstructured Supplementary (by 26 December 2019) for the provi- Cameroon of “anti-competitive
Service Data (USSD) for access to the sion of mobile financial services. practices.” According to the microfi-
national electronic communications’ Since July 2017, the Cameroonian nance company, these practices are
aggregation platform in Cameroon. government has been working on either through an increase of the
This platform is aimed at notably the creation of a single USSD code prices for the use of the shortcode
ensuring fair interconnection con- for Mobile Money services. Indeed, * 050# (which allows Express Union
ditions, reducing the costs of mobile like telephone calls and other SMS, Finances’ clients make transactions
financial transactions and promoting telephone operators operating in on their accounts with their mobile
financial inclusion. It will also give Cameroon use different codes. For phones), or outright removal of
access to mobile financial services instance, with Orange and MTN, Express Union Finances’ access to
via a unique shortcode (#237#). #150# and *126# are the respective this USSD code.
Philemon Zo’o Zame, Director of the codes to access mobile money servic- These accusations were outrightly
Telecommunications Regulatory es. From now on, these operators will rejected by the two mobile opera-
Agency (ART), explains that “the have to submit, for validation, the tors who claim that they are not in
said platform is housed at Campost tariffs for access to the single USSD partnership with Express Union on
[Cameroon’s state-owned postal code. the disputed USSD code.
operator], which manages it, and is It could bring more transparency
responsible for the implementation of to the mobile financial services

ITC & TELECOM 51
Cameroon: Decentralized territorial

communities should help achieve digital
revolution, Minette Libom Li Likeng says
According to Cameroon’s Minister authorities to become more involved Minette Libom Li Likeng then wished
of Posts and Telecommunications in the development of the digital to see these territorial entities “grad-
(Minpostel) Minette Libom Li Likeng economy in Cameroon. ually take on the challenges of digital
(photo), the vision of the Head of “Whether it is the development of ICT development.” “The digital revolution
State, who has given the go for the infrastructure, access to the Internet should not be seen by communities
country’s digital transformation in or provision of ICT services, the as a risk, but rather as a real oppor-
recent years, is that “no one should be decentralized territorial community tunity. Digital tools save time and at
left behind in the digital revolution.” is at the heart of the process when it the same time simplify and improve
Minette Libom Li Likeng (photo), comes to reaching local populations. services offered to users. However, this
who was speaking on November 25, In this context, digital development is transformation implies a cultural and
2019, in Yaoundé, at the opening of becoming a means of stimulating the behavioural evolution that must lead
a two-day meeting between Camtel economic and social development of communities to rethink their operating
(the incumbent telecoms operator) decentralized local authorities, thanks methods and managerial practices,”
and players in the electronic com- to the opportunities it offers,” the she argues.
munications sector, called on local official explains.
Kiro’o Games reaches a cap of $600,000 raised

from international investors since
the opening of its capital
Kiro’o Games, the first video (nearly XAF275 000). Each
game studio in French-speaking new shareholder has a voting
Africa created by a Cameroonian right and can participate in the
start-up, is going from success to management of the company via
success. a dedicated intranet.
After the opening, on April 4, According to the Bank of Central
of its capital, the volume of African States (Beac), Kiro’o
subscriptions by international in- Games successfully raised
vestors reached $600,000 (about XAF129.87 million (€198,000)
XAF355 million) this month of through participatory financ-
November 2019, according to an ing in 2018 to fund the largest
announcement by the founder project in the French-speaking
Madiba Olivier. African video game industry.
According to the founder, 494 MTN (one of Africa’s largest
people have subscribed. And telecommunications companies)
between 2013 and 2019, Kiro’o’s is funding the development
shares increased tenfold. The of Kiro’o games with a reve-
current shares can also be nue-sharing partnership between
“increased sevenfold by 2026,” 2019 and 2020. Indeed, during
Madiba Olivier says. that period, the Cameroonian
The young company uses its start-up’s games will be listed on
famous “Equity Crowdfunding MTN’s gaming platform MTN
Rebuntu” process which allows Game+ and Kiro’o Games will
investors to buy shares from $500 keep the licenses of its games.

52 ITC & TELECOM
Cameroon: Mobile operators recorded

XAF96 bln loss in 2018
For at least 4 years now, in
Cameroon, the mobile telephony sec-
tor has not been very successful after
many years of success. According to
an authoritative source, the recently
created operators’ association is
expected to take a formal position on
this issue soon.
To support the thesis of the tem-
porary decline of the mobile sector
in the country, a source close to
the case reveals that over the last 4
years, the three operators operating
in Cameroon (MTN, Orange and two English-speaking regions, the for several months to control the
Nexttel) have lost 4% of their overall Northwest and Southwest. company.
turnover. Indeed, like the agribusiness com- Nexttel, the most profitable African
According to the same source, in panies operating in this part of the subsidiary of the Vietnamese group
2018 alone, the country’s mobile country, mobile operators (MTN, Viettel Global, as early as 2016,
telephony companies recorded a loss leader of the Cameroonian operators only 2 years after the launch of
of XAF96 billion. The environment in notably, ed.note) are facing a major its activities, was experiencing a
the Cameroonian mobile telephony disruption of their activities, due decline in its performance. This has
sector in recent years is such that in particular to the destruction of been the case since Baba Danpullo,
a company like Orange Cameroon their equipment and the difficulty in the Cameroonian shareholder and
has not distributed a dividend to its repairing them, due to insecurity. his Vietnamese partners of Viettel
shareholders over the past 4 years. The gloomy situation the sector is Global started fighting before courts
These losses have been exacerbated going through is also partly ex- and local authorities to take exclu-
in the last three years by the so- plained by the battle that Nexttel (the sive control of this promising mobile
cio-political crisis that has been on- country’s third-largest operator)’s operator.
going since late 2016 in Cameroon’s shareholders have been waging
Cameroonian startup “Tout souffle compte”

elected 1st winner of Orange Social Venture
Prize for Entrepreneurs in Africa and the
Middle East 2019
On November 12, 2019, during the went to Cameroonian start-up “Tout combat premature babies’ mortality
AfricaCom held in Cape Town, souffle compte.” in Cameroon and Africa.
South Africa, telecom group Orange Founded by Serge Armel Njidjou This award comes with a €25,000
announced the winners of the 9th (photo: far right), this start-up euros (about XAF16.5 million) grant
edition of the Orange Social Venture manufactures interactive neonatal and personalized support from
Prize for Entrepreneurs in Africa incubators, remotely controlled by Orange Group’s experts.
and the Middle East. The grand prize the doctor’s smartphone, that help

ITC & TELECOM 53
State-owned postal firm Campost happy

about initial impacts of the government-
backed restructuration plan
The 2019-2021 contract plan, retain the award of eight major con- security equipment for mailings as
between Cameroon Postal Services tracts selected in the joint decree, from well as the acquisition of data centre
(CAMPOST) and the government, for the ministry of posts and telecommu- security upgrading infrastructure.
the restructuration of this state- nications and the ministry of finance, In the same vein, it was learned,
owned firm, is being implemented of 27 January 2019, which concerns four financing windows have been
in a rather “satisfactory” manner, respectively the organisational and hu- identified to support this XAF22.8
one year after its signature. This man resources audit of Campost,” said billion plan. For its part, the govern-
was the comment of Minette Libom Pierre Kaldadak, Campost’s CEO. ment has committed, through the
Li Likeng, Minister of Posts and According to him, contracts are also Ministry of Finance and the Ministry
Telecommunications, during the being implemented for the acquisi- of Posts and Telecommunications,
review meeting she chaired on 14 tion of an enterprise resource plan- with the support of the AfDB, to
November 2019 in Yaoundé, the ning system, the supply and commis- provide XAF18.3 billion. The remain-
country’s capital. sioning of 58 mailing machines, the ing XAF4.4 billion should be provided
“With regard to rehabilitation, we can installation, and commissioning of by Campost.
Camtel turns to Russian Infinet Wireless for

the modernization of its infrastructures
Camtel, Cameroon’s incumbent telecom-
munications operator, has chosen the
technologies of the Russian company
Infinet Wireless, which provides carri-
er-class wireless network infrastructure
solutions, for the modernization and
extension of its telecommunications
infrastructures. In that regard, an agree-
ment was signed between the two parties
in Sochi, Russia, at the Russia-Africa
Summit held on October 23-24, 2019.
A pilot zone will be created where
Camtel will test Infinet Wireless
products.
According to Infinet Wireless’ CEO
Dmitry Okorokov, Africa is of growing
interest to the technology company in
view of the many economic forecasts
that make the continent one of the most
promising markets for rapid growth.
“The key areas for us are security and the
development of a modern telecommuni-
cations infrastructure. Infinet is ready to
offer its expertise in this field through a
range of proven products adapted to the
African environment,” he said.

54 ITC & TELECOM
The telecom regulator plans to audit

operators’ turnover
Philemon Zo’o Zame, managing ing, auditing, economic or engineer- auditor, telecommunications or
director of Cameroon’s telecommu- ing competences in the electronic information system expert for one
nications regulator, just issued a call communications sector. of the operators to be audited, their
for expression of interest to recruit The aim of this audit (covering the subsidiaries or affiliated companies
a firm for the audit of the revenues 2015-2018 period), which should not under another firm in the past three
of mobile operators operating in the last more than three months, is to en- years in the country.
country (MTN Cameroon, Orange sure the authenticity of the financial Seven copies of each bid, written in
Cameroon, and Viettel Cameroon data transmitted to the regulator. French or English, must be sent to
namely). The regulator stresses that each of the regulator’s procurement unit in
Participation is open to national the individual experts suggested Yaoundé, by December 9, 2019.
firms with proven financial, account- by firms should not have been an

55
ENERGY
Cameroon: Natural gas can contribute
20-30% of the energy mix , SNH says
“The SNH has demonstrated, since of Cameroon (SNH) when asked how conversion of many diesel or oil-fired
2012, that gas can make a significant his company could contribute to the power plants, already being studied.
contribution to the development of the diversification of the energy mix in As of July 2019, according to figures
electricity sector in Cameroon by en- Cameroon. published by electricity distribution
suring a continuous supply of the 216 According to an internal publication company ENEO, gas accounted for
MW natural gas power plant built in (SNH Info), relaying the director’s 17.7% (representing 1,391.98 MW) of
the coastal city of Kribi, the first-ever answers, the SNH remains faithful Cameroon’s electricity production.
in Cameroon. Gas could contribute to its ambition to contribute to Hydro (55.8%) and oil/diesel (26.5%)
between 20% and 30% of the energy the diversification of the country’s were the other energy sources while
mix at the national level.” This was the electricity supply sources. the contribution of solar energy
reply of Adolphe Moudiki, director This explains some of the projects, remains close to zero.
and chief executive officer of the such as the installation of a 300 MW
National Hydrocarbons Corporation gas power plant in Limbe and the
Cameroon inks XAF10 bln funding

agreement with the EU for rural
electrification
On November 26, 2019, in
Yaoundé, the Cameroonian
government, signed, via the
Ministry of Economy, a €16.15
million (a little over XAF10
billion) funding agreement with
the European Union.
These funds will be used to
partially finance the rural elec-
trification and energy access’ im-
provement Project PERACE. This
project is being implemented in
six regions of Cameroon, namely
the Far North, Adamaoua, the
North, the East, South West, and
North West.
Co-financed by the European
Investment Bank and the World
Bank, PERACE is the first phase
of the Rural Electrification
Master Plan developed by the
Cameroonian government in
2016.

56 ENERGY
Nachtigal dam: Over 1,300 employees already

active on site
Jean-Bernard Levy, CEO of Électricité During this field trip, accompanied launched in February 2019.
de France (EDF), a shareholder in the by Cameroon’s Minister of Water and These employees, and others to be
Nachtigal dam construction project Energy Gaston Eloundou Essomba, recruited, are working to deliver, in
in Central Cameroon, was on the it was revealed that more than 1,300 2023, a 400 MW dam representing
construction site on November 26, employees are already working on one-third of the country’s current
2019. this project, which was officially power generation capacity.
Cameroon: Public lighting takes over 55% of

government’s electricity expenditures
The Cameroonian government, via XAF41 billion every year according to Cameroonian government’s electric-
the Ministry of Water and Energy, official reports. ity expenditure is also the result of
just launched a programme to mon- According to a study commissioned an overestimation of its real needs.
itor, control and optimize electricity by the government, public lightning Indeed, according to the study,
bills in the public sector. According represents more than 55% of the the state has subscribed for a total
to the programme’s creators, it is electricity bills the government pays capacity of 40 MW, whereas the real
aimed at reducing the country’s elec- every year. need is only about 11 MW.
tricity expenditures, which average Overall, the study reveals that the

ENERGY 57
Due to security reasons, Eneo is unable to

access forests in the Northwest to replace
wooden poles
During his recent presentation be- decrease is due to the security crisis poles identified in the Western region
fore the National Assembly to defend in the Northwest. (Baleng, Bazou, Bana) since the forests
the budget of his ministerial depart- At the same time, he announced that of the Northwest are inaccessible due
ment, Gaston Eloundou Essomba, 50,000 (including 13,500 concrete to security reasons.”
the Minister of Water and Energy and 36,500 wood) and 40,000 poles According to the official, there is
(Minee) addressed the issue of wood- will be replaced in 2020 and 2021 just over 1,300,000 poles in the
en poles used to transport electricity respectively. Cameroonian distribution networks.
to Cameroonian households. To achieve this performance, “it is Most of those poles are made from
According to the Minee, only 20,000 necessary for the Ministry of Forests wood and face constraints that
poles were replaced in 2019 by to grant an authorization to Eneo increase the frequency and duration
Eneo compared to 40,000 in 2018. and the national agency for forest of power outages.
According to the official, this 50% development to use the 55,000 wooden
Belgian and Czech delegations announce

their interest in Cameroon’s energy sector
On November 14, 2019, two Belgian in Cameroon. the financing and implementation
and Czech delegations were received The Czechs, for instance, intend to of water supply projects, intend to
at Cameroon’s Ministry of Water and seize the opportunities that exist play a role in the development of
Energy. At the end of the two audi- in the renewable energy sector and projects in the electricity sector, in
ences granted to these partners by contribute their expertise in the de- particular through the construction
Minister Gaston Eloundou Essomba, velopment of hydroelectric projects. of mini-power plants in remote areas
the delegations expressed interest in Belgians, who are already present in in Cameroon.
the development of energy projects the drinking water sector, through

58 ENERGY
Cameroonian footballer Jean II Makoun

partners with Upowa to promote solar
energies
On 13 November 2019,
Cameroonian footballer
Jean II Makoun signed
a partnership agree-
ment with the Franco-
Cameroonian company
Upowa to promote re-
newable energies, solar
energy particularly.
“I was seduced by this
company’s team spirit.
Beyond the image, I am
committed to going out
on the field, wherever it is
needed,” said the former
player of Cameroon’s
national football team,
the Indomitable Lions.
Upowa is a company spe-
cializing in the supply of
low-cost solar kits, which
can also be purchased in
successive installments
over several months.
This company mainly
targets people in rural
areas with poor access to
electricity in Cameroon.
SONARA: Chairman and board members’

allowances to be adjusted
Shareholders of Société Nationale de The monthly remuneration of the the chairman’s allocation is set at
raffinage S.A. (Sonara), Cameroon’s chairman and the directors’ sessional 0.0012% of the lowest turnover of this
only refinery ravaged by a fire allowances should, therefore, be category (i.e. XAF100 billion) and
outbreak on May 31, 2019, are invited adjusted in accordance with the the sessional allowances of adminis-
to a combined general meeting on Presidential Decree No. 2019/321 of trators, the chairman included, are
Friday, November 22, 2019, in Limbe, 19 June 2019. capped at 0.0015% of XAF100 billion.
the southwestern region. According to article 6 of this text, This corresponds to a monthly
During the meeting, they will Sonara is classified as a first category allocation of XAF1.2 million for the
deliberate on ten points. These public company because its average chairman and a sessional allowance
include the “monthly allocation of the turnover over the last three financial of up to XAF1.5 million for each
Chairman of the Board of Directors” years exceeds XAF100 billion. administrator.
and the “directors’ duty allowances”. For this category of institution,

ENERGY 59
Security challenges and the May 2019 fire at

Sonara slowed Cameroon’s 2019 economic
growth (+3.9%)
On November 8, 2019, at the end war against the Nigerian terrorist non-oil sector (3.8%, compared with
of the 5th review of its three-year sect Boko Haram in the Far North re- 4.4% in 2018) in 2019, the IMF points
economic and financial programme gion and the deployment of the army out. Here, we learn, sectoral GDP
(2017-2019) with Cameroon, the in the South West and North West grew to only 3.8% in 2019, compared
International Monetary Fund (IMF) regions to contain the pro-independ- to 4.4% in 2018.
expressed its satisfaction with the ent claims in the two Anglophone Nevertheless, despite the slowdown,
Cameroonian government’s imple- regions since late 2016. economic growth in Cameroon will
mentation of the said programme. In addition, the IMF said, the be much better than that of the
The delegation also took this op- decrease in Cameroon’s growth is entire CEMAC region, making it the
portunity to reveal some of the 2019 also due to the fire in late May 2019, economic driver of this community.
key indicators on the Cameroonian at Sonara, the country’s only oil Indeed, according to figures released
economy. refinery. This disaster caused the by the Bank of Central African States
According to the institution, cessation of refining activities forcing (Beac), economic growth in the
Cameroon will end the year with a Cameroon to import finished oil CEMAC region will peak at 2.7% in
3.9% growth, slightly down from the products. 2019, compared to 3% forecasted at
4.1% recorded in 2018. This decrease Moreover, despite the rebound the beginning of the year.
is mainly due to security challenges observed in the oil sector with a 6% Let’s note that even though it is less-
faced by the country since 2013, the sector growth rate in 2019, “after 3 er than forecasted, it is still higher
IMF indicated. years of deceleration,” there was a than the 1.8% recorded in 2018.
These challenges mainly relate to the slowdown in economic activity in the

60
TRANSPORTATION
Local startup plans to launch a carpooling
app on December 2019
The co-founders of the start-up
ToliCar announce the launch of a car-
pooling platform on December, 2019.
According to the startup, for a start,
this carpooling platform will cover
the Yaoundé-Douala-Bafoussam-
Yaoundé axis.
“ToliCar is an innovative platform, an
economic and social community that
brings together two categories of users:
passengers and drivers. It is about
connecting them. For instance, if a
passenger wants to go from Douala to
Yaoundé, he can easily meet a driver
who is leaving the same point for the
same destination on the same day,”
explains Lucas Sigha, the startup’s
managing partner.
The birth of ToliCar is the result
of an experience by the managing
partner. “It’s really anecdotal. I was on
my way to Yaoundé. Not being able to
drive on the main roads of Cameroon,
I asked to be accompanied and my
cousin offered to do it. On the way Yaoundé. He also asked me if we could pushing one another, to be able to get
back, we stopped at a gas station for take some of them in our car, which I into the vehicle. (...) That’s when the
coffee. There were lots of people on the accepted. When he went to the waiting idea of setting up a platform came
roadside then, my cousin told me they crowd and shouted ‘Yaoundé’, I saw from,” Lucas Sigha told the newspa-
were all waiting for vehicles to get to dozens of people running towards us, per Defis Actuels.
Douala-Bonabéri: Towards the

dematerialization of ship calling procedures
Starting from 1 January 2020, all dematerialised on the said platform,” Secretary-General of national port
procedures related to ship calls at Cyrus Ngo’o, the port’s managing community Association de la com-
the port of Douala-Bonabéri will director, indicated adding that call munauté portuaire nationale-port
be carried out online via the web- requests will be taken into account synthèse for the necessary due
site www.pad.cm only if manifests are sent in XML and diligence. For unmanned vessels, a
“This measure, whose aim is to PDF formats. team, from the port, will be placed at
optimise the information system of the For the implementation of this new drop-off points to record arrival and
port of Douala-Bonabéri, will ensure measure, he added, all shipping departure times for billing purposes.
that the ships call announcement and agents are invited to get in touch
maritime conference will henceforth be with the port’s IT department or the

61
SERVICES
GICAM reorganizes its arbitration centre to
adapt it to the international environment
Today, November 7, 2019, Célestin centre. text. In addition to this adaptation
Tawamba (photo), president One of these amendments is the work, it also seemed useful to mod-
of Groupement inter-patronal du change of this centre’s name from ernize the arbitration centre’s offers in
Cameroun (Gicam), Cameroon’ss Gicam Arbitration Centre to Gicam light of the international environment
largest employers’ organization, is Mediation and Arbitration Centre. and the current state of alternative
scheduled to give a press confer- “Following the revision of the Ohada dispute resolution methods. With this
ence. According to a press release Uniform Act on Arbitration and the in mind, the arbitration centre has
published by the GICAM, Célestin adoption of the Ohada Uniform Act reformed both its texts and services,”
Tawamba will present the various on Mediation on 23 November 2017, Gicam indicates.
amendments to the provisions of it was necessary to adapt the practice
GICAM’s arbitration and mediation of the arbitration centre to this new
Ivoirian Stéphane Soumahoro becomes new

MD of BVS production Cameroon SA
Wines and Spirits supplier BVS
Cameroon informs that Ivorian
Stéphane K. Soumahoro has just been
appointed as the Managing Director
of BVS production Cameroon SA. He
now combines this position with the
position of Managing Director of BVS
Distribution Cameroon which he has
held since October 1, 2018.
“His roadmap is to create synergy
between these two entities, in order
to enable BVS Cameroon to become
a major player in the production and
distribution of beverages, wines, and
spirits in Africa,” the company informs.
Stéphane Soumahoro takes over
the management of BVS, launched
by Guillaume Sarra, former CEO
of Société Anonyme des brasseries du
Cameroun, after 13 years as CEO of
Tradex, an oil distribution company
owned by Cameroon with operations
in various African countries.
With its technical partner Castel
Group’s support, Douala-based BVS’
ambition is to produce 10 million
litres of wine every year and serve the
CEMAC region in the meantime.

62 SERVICES
Still another fire in a market in Douala

In the night of November 23 to and other merchant counters. in the country’s markets.
24, 2019, fire broke out at Cité des The first research on the reasons for As a reminder, the same reasons had
palmiers market in Douala, the this disaster, in a Cameroonian mar- led, in the night of February 23 to 24,
Cameroonian economic capital. ket, points to a short circuit created 2019, to a fire that consumed more
According to our sources, the flames by the anarchic electrical connec- than 150 shops in the Congo market,
burned more than 50 shops, stalls tions, which are recurrent practices in Douala.
Next CAF African Nations Championship to

be held in Cameroon on April 4-25, 2020
After some hesitation about the on 4 November 2019 by the Minister also worth mentioning that in 2021,
date, following Cameroon’s request of Sports, Narcisse Moelle Kombi, Cameroon will host the African Cup
to host the competition in June, the during the installation of members of of Nations (AFCON). The official logo
Confederation of African Football the CHAN 2020 organising commit- of this continental championship
(CAF) has finally decided to organ- tee, the competition will take place was, by the way, officially unveiled
ise the next CAF African Nations in Douala, Yaoundé and Limbe. during the above-mentioned
Championship from April 4 to 25, Let’s note that the draw for teams ceremony.
2020 in Cameroon. entering the competition will be held
According to information revealed in January 2020, in Yaoundé. It is

STOPBLABLACAM.COM 63
No, Douala port’s general director

Cyrus Ngo’o is not from the
Anglophone region
There are social media posts that sents him as a civil administrator,
allege that Cyrus Ngo’o, Director a graduate of the National School
General of Douala autonomous port, of Administration and Magistracy
was born in the Anglophone region. (Enam) and holder of an MBA from
This is not true. Quebec.
Indeed, according to the man’s He has been an advisor to the Prime
official biography, he is a native of Minister on issues relating to the
Messamena in Upper Nyong, Eastern monitoring and implementation of
Cameroon. He is therefore not from public policies in the fields of land,
the North-West or South-West, which energy, water, public works, mining
constitute the Anglophone region of and especially ports. In addition,
the country. he was coordinator of the Mbalam
Cyrus Ngo’o was appointed on Iron Project and Chairman of the
August 24, 2016, at the age of 50. Procurement Commission for the
The Prime Minister’s office pre- Kribi Port Container Terminal.

64 STOPBLABLACAM.COM
No, Chad and Equatorial Guinea

are not providing assistance for
the payment of Cameroonian civil
servants’ salaries
A while ago, an Internet user pub- the funds deposited by the sub-re- to provide financial assistance to
lished a note according to which, “the gion in the French operating account Cameroon for the payment of its civil
salaries of Cameroonian civil servants in 2018 (XAF1,945.2 billion out of a servants’ salaries.
are being paid, for months now, total of XAF3,359.8 billion). In addition, according to the Beac,
thanks to the support of two CEMAC Gabon came second with assets the gross reserves of CEMAC’s
countries: Equatorial Guinea and estimated at XAF 638.9 billion banking system, composed of free
Chad,” notably. The information is as followed by the Beac that deposited and minimum reserves, increased by
unbelievable as it is false. assets worth XAF350.4 billion. The 0.6% to XAF1,773.6 billion between
Indeed, in the CEMAC region, immediate followers are Central December 2017 and April 2018. It
Cameroon is considered the eco- African Republic (XAF200.7 billion), appears that the increase in that
nomic leader. In terms of finances, Congo (XAF182.4 billion), and Chad indicator was spurred by Gabon (+5.8
Cameroon is the strongest country, (XAF74.4 billion). Equatorial Guinea’s points) and Cameroon (+1.9 points).
even if the community is fragile. balance is downright negative (mi- Equatorial Guinea’s contribution was
According to figures published by the nus XAF32.3 billion). -4.9 points, Congo and the Central
Bank of Central African States (Beac), Based on those figures, Chad and African Republic -0.9 points, and
Cameroon accounted for over half of Equatorial Guinea can not be able Chad -0.4 points.

STOPBLABLACAM.COM 65
Yes, Cameroon imports the

petroleum products distributed
at gas stations
Unlike what some people might crude oil (Arabian light). However, age (77% against 23% for marketers).
think, the petroleum products dis- Cameroon currently produces heavy Cumulative sales on the domestic
tributed at the local gas stations are crude oil but the tools existing at the market (1,613,804 m3) in 2018 were
indeed imported; they are not pro- refinery cannot be used to process imported products; and this will
duced by the National Hydrocarbons the available crude oil, Sonara said. increase during this 2019 financial
Corporation (Sonara). This situation led Sonara to resort year, as Sonara was ravaged by a fire
Sonara qualified itself as a “topping to massive imports of white-label on 31 May 2019.
reforming” refinery explaining it was products to supply the local market,
initially established to process light where it provides most of the cover-

66
LEADER OF THE MONTH
EDF Pulse Africa 2019:

Young Cameroonian engineer
wins the prize “Prix coup de
cœur” with off-grid power-
generation solution
support, including operational and
financial advice, project develop-
ment partnerships with incubators
based in African countries, access to
EDF’s innovation ecosystem includ-
ing R&D, EDF’s internal creativity
labs and the subsidiary specializing
in support for EDF Pulse Croissance
start-ups.
Triomphant Tchulang and Clean
Energy Services join, on the po-
dium of this competition, other
Cameroonian start-ups, winners
of previous editions. These in-
clude Fabien Kouatcha’s Save Our
Agriculture, “Prix coup de cœur”
from the 2nd edition of EDF Pulse
Young Cameroonian engineer The kits sold by Clean Energy Africa in 2018, and Cameroonian
Triomphant Tchulang who was rep- Services (composed of solar panels, start-up EduAir, 3rd prize of this
resenting his country at the finals of adapted refrigerator and LED bulbs) competition in 2017.
the EDF Pulse Africa 2019 innovation are sold on credit provided the buyer Created in 2017, the competition
competition, organized on November pays an initial deposit of 20% of the EDF Pulse Africa challenge is aimed
21, 2019, in Paris by French energy kit’s value. at supporting entrepreneurial
company EDF, won the prize “coup The solution is aimed in particular at dynamism in Africa with two main
de cœur.” populations in isolated sites engaged objectives: identifying potential
The Cameroonian engineer was in activities that require cold: cater- partners by finding the continent’s
rewarded through his start-up Clean ing, sale of fresh products (meat, fish, technological nuggets and support-
Energy Services, which sells Off-Grid etc.). ing innovation by involving local
power generation solutions aimed at The five winners of EDF Africa Pulse entrepreneurs in the development of
powering solar-powered freezers and 2019 won grants ranging from €5,000 innovative offers.
refrigerators in remote sites. to €15,000, as well as comprehensive BRM

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December 2019 - January 2020 / N° 82-83

CFA: The debate is open

Aurélie Chazai: ”We are Cameroon becomes CEMAC’s

FREE - CANNOT BE SOLD

APP AVAILABLE ON IOS AND ANDROID

Decentralization, let’s go…

N° 82-83 / December 2019 - January 2020 BUSINESS IN CAMEROON

15 • C &K Mining divests shares in Mobilong diamond Publication Director

scandalous potential overvaluation Contributors

AustSino, after several unsuccessful extensions of Advertisement

66 • E DF Pulse Africa 2019: Young Cameroonian

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PUBLIC MANAGEMENT P 27-39 ITC & TELECOM P 48-54

FINANCE P 40-43 ENERGY P 55-59

AGRIBUSINESS P 44-46 TRANSPORTATION P 60

INDUSTRY P 47 SERVICES P 61-62

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COMPANY OF THE MONTH

Glass factory Socaver boosts production

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1,250 CFA Francs

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Analysts believe that a medium-term breach of

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