A well-placed source has hinted Cameroon Concord News that the Francophone Minister of Finance, Alamine Ousmane Mey reported a burglary in his ministerial department that took place between Thursday the 11^th and Friday the 12^th of May to the police.  A security agent who confirmed the incident observed that the alleged burglars made away with several hundreds of millions of CFA francs including several documents classified as “top secrets” in the offices of the Minister and His private secretary.

Camcordnews understands the robbery took place without any breaking-in, an act that raises many questions. A highly placed civil servant at the ministry who spoke to our undercover reporter said many people have been seeking to know if Minister Alamine Mey and his secretary share offices with third parties or whether it is a job ordered by some “rogues” in Etoudi.

A journalist with the state radio and television who contributed to this report also noted that the perpetrators of the alleged burglary are not in the populous neighborhoods of Yaoundé city but are all lined up in the corridors of the Ministry of Finance.

By Sonne Peter

Cameroon Concord News

The African Development Bank has launched a program to promote Public Private Partnership (PPP) Development program in Central Africa. The program on infrastructural development opened in Yaoundé on Monday the 8th of May 2017.

The Director of the African Development Bank for Central Africa, Dr. Ousmane Dori presented numerous financial constraints, faced by African governments. He also noted the importance of exploiting the Public Private Partnership model.

Participants also reflected on other options that can help cover the cost of insufficient infrastructure such as roads, buildings, electricity. Phillippe Genoux, a PPP Consultant said the model will facilitate the financing of projects relieving governments from huge burden.

CRTV

Thousands of Southern Cameroon workers have boycotted celebrations to mark the International Workers’ Day.  Labor unions in Anglophone Cameroon have often demand better working conditions from La Republique du Cameroun and are presently seeking an independent state of West Cameroon. The International Workers’ Day, also known as the May Day, is marked on May 1 every year.

The rallies around the globe have sometimes turned violent as clashes erupt between people and police forces. The Bamenda city of Southern Cameroons was the scene of such rallies today Monday, when a group of pro La Republique workers attempted to defy a ban by the Cameroon Anglophone Civil Society Consortium and march to celebrate the day. The Consortium authorities have banned labour day celebrations in Southern Cameroons.

In Buea, CPDM workers assisted by security forces from French Cameroun made their way into the ceremonial ground backed by the controversial mayor and governor of the South West region and staged a pro government event.  Kumba was also the scene of boycott, with a handful of civil servants gathering at the BICIC junction pretending to be celebrating.

Manyus and Moghamos including the Balis also held rallies in their respective administrative units carrying banners that read, “For an Independent Southern Cameroon State.”

By Rita Akana

Camcordnews

Gwendoline Abunaw Nzo-Nguty is the new Executive Director of Ecobank. After a long experience in finance the Cameroonian now finds herself at the head of the bank.

 In 1998, Gwendoline obtained a Bachelor of Science (BSc) in Banking and Finance from the University of Buea in Cameroon. Later in 2003, at the London Metropolitan University in England, she received an MBA in Finance and the Barclay’s Bank Award.

Gwendoline Abunaw began her professional life in August 1998 as an information analyst at the Credit Administration Department at Standard Chartered Bank in Cameroon until August 2001. She returned from London in 2003 and joined Ecobank Cameroon for the first time as Account Manager in the Department of Large Enterprises for a year.

In 2004, she became an account manager at Citibank. Through her hard work and determination she became manager of the senior accounts. A position she held until January 2011. In February 2011, she joined Ecobank Cameroon this time as Director of Large Enterprises. Gwendoline Abunaw was appointed to the Board of Directors of Ecobank Cameroon in May 2014 and was confirmed as Director of Grandes Enteprise for Cameroon and the Cemac area.

This rich financial pathway was rewarded in July 2015 by a promotion as deputy general manager of Ecobank Cameroon. Less than two years later, Gwendoline Abunaw is now the lead of this financial institution in her country.

Source: MAG WP

President Biya has finally joined forces with his kinsman, Edgar Alain Mebe Ngo’o the Minister of Transport and gotten rid of the Chairman of the Board of Directors of Camair-Co Mefiro Oumarou. The emergency Camair-Co board meeting yesterday in Yaounde recorded a dramatic and an incredible turnaround situation.

State radio and television including other independent media sources announced the sacking of the general manager, Ernest Dikoum and later on information was made public that he was retained by members who attended the Hilton Hotel forum in Yaoundé. The Biya Beti Ewondo surprise came where it was least expected.

Mefiro Oumarou, the Chairman of the Board of Directors, was disembarked only eight months after his appointment and was replaced by Louis Georges Njipendi. The latter appointed by presidential decree, was immediately installed by Edgar Alain Mebe Ngo’o, Minister of Transport. Thus, in the quarrel between the former Board Chairman and the Minister of Transport over the management of the recovery plan of Camair-co, Paul Biya decided in favor of the Minister Edgar Alain Mebe Ngo’o.

By Chi Prudence Asong

Two new Boeing A180 aircraft will be acquired by Camair-Co for the purpose of strengthening its fleet. Edgard Alain Mebe Ngo’o, the Francophone Minister of Transport who has been hiding ever since the Eseka train disaster will today Wednesday in Yaoundé sign a contract with the partners of Cameroon, for the final acquisition of the two new aircraft, as part of the national airline’s recovery plan.

Since its creation, just over six years ago, the Camair-Co has been shaken by corruption, fraud and management problems that have paved the way for negotiations to adopt a recovery plan for the company. The numerous financial scandal that has rocked Camair-Co was debated in National Assembly during the last session.

Edgard Alain Mebe Ngo’o told parliamentarians that the state was ready to inject 60 billion FCFA for the re-launch of Camair-Co. In recent weeks, the airstrips of the Douala airport have been redesigned in view of the relaunch of the national airlines carrier.

French NGO Internet Without Borders has reported that in 60 days, the Internet cut in Southern Cameroons has cost 2.69 million euros or nearly 2 billion FCFA to the Cameroonian economy.  The international body also did observe that Southern Cameroons internet shutdown is one of the longest recorded in Africa. Mobile operators, including Orange and MTN were ordered by the Francophone regime to suspend Internet services in the English part of the country.

The situation has been more detrimental for Southern Cameroons entrepreneurs and has completely destroyed the development of a significant number of digital start-ups. Young businessmen such as Churchill Mambe, Njorku, based in Buea, drives everyday to Bonako-a small village in French Cameroon to be able to have access to internet.

Cameroon Concord News understands the Internet cuts have also had a negative and direct influence on national and regional economies, thus delaying progress towards the achievement of development objectives. Financial experts say the cuts present significant risks to investors in the provision of fixed and mobile network infrastructure and that some investors have opted to leave Cameroon. The Minister of Telecommunications, Minette Limbo Li Likeng has maintained a kind of deliberate silence on this recent revelation.

By Fru James

The political port created by the Biya Francophone government in Kribi at the expense of that in Limbe has still not gone operational. Cameroon Concord News understands the infrastructure of the Kribi port is technically ready to be exploited for months now but delays exist at the level of the award of contracts for the management of the multipurpose terminals and containers.

Recognized by the State of Cameroon, the Dutch company Smit Lamnaco, the contractor for the towing and landing contract, signed its agreement since the 2^nd of February 2015. The consortia Necotrans-KPMO (polyvalent terminal) and Bolloré-CMA CGM-CHEC (Container terminal), both were recruited since August 2015 and continue to wait for the government’s anointing to enter service on their respective terminals.

However, heavy equipment that were procured by the CPDM government for the Autonomous Port of Kribi continue to rust. The two tugs acquired and received by the State of Cameroon since 2014 will be sent for technical revision in the coming days, as they have long been stagnant at the port.

Built by the Chinese company CHEC, thanks to financing from Eximbank China, the deep water port of Kribi has 650 m of platforms, of which 350 m for the container terminal and 265,5 m for the multipurpose terminal. The two terminals have respective capacity of 300,000 Equivalent Unit (TEU) per year and 1.2 million tonnes per year.

The second phase of construction of this white elephant scheme includes the extension of the 700 m container terminal to 1050 m, as well as the construction of mineral and hydrocarbon terminals. With a 15.5 m channel, this port infrastructure, which will accommodate ships with a draft of 16m, is presented by experts as the best on the West African coast.

By Sama Ernest

The Biya regime has come up with a new style of governance which is that of creating committees. Correspondingly, members of the Finance Committee charged in putting in place the reforms of the Public Finances in the country began meeting this Tuesday 28 th March 2017 in Yaoundé. The 7th ordinary session focused on the relevance of reforms on results oriented for the country’s sustainable growth is being chaired by the Minister of Finance, Alamine Ousman Mey.

At the opening session he restated that the reforms of public finance will be based on the 2035 vision, the impact of climate change, gender equality and national debt strategy which focuses on growth, employment and good governance.

This will be carried out through Coordinate planning, programming, budgeting and evaluation; material and human resources will also be mobilized and used efficiently so to accomplish the goal. Mr. Alamine further emphasized the need for joint efforts by government, private sector, technical and financial partners.

Culled from CRTV