Monthly Archives: July 2026

Cameroon Gold Scandal: UAE trade data exposes hidden exports amounting $524 million

21, July 2026

Cameroon Gold Scandal: UAE trade data exposes hidden exports amounting $524 million 0

Cameroon is set to launch a nationwide operation on August 1 to recover an estimated 305 billion CFA francs ($524 million) in unpaid taxes from undeclared gold exports after trade data from the United Arab Emirates (UAE) exposed major discrepancies in the country’s official export records.

The operation will target 51 mining companies and 33 previously unidentified mining sites suspected of evading taxes and customs duties between 2023 and 2025, according to the Ministry of Mines, Industry and Technological Development.

The crackdown follows findings in the 2023 Extractive Industries Transparency Initiative (EITI) report, which revealed that Cameroon officially declared exporting just 22.3 kilograms of gold in 2023.

In contrast, customs data from the UAE—one of the world’s largest gold trading hubs—recorded imports of more than 15 tonnes of gold originating from Cameroon during the same period.

According to the Gold Demand Trends report published by the World Gold Council, gold sales in the United Arab Emirates reached approximately 37.8 tonnes during the first nine months of 2023, making the UAE one of the world’s largest and most active gold trading and retail markets.

The discrepancy has fueled concerns over widespread underreporting, smuggling, and weak oversight in Cameroon’s mining sector, resulting in significant losses in tax and royalty revenues.

Cameroon moves to tighten oversight

The recovery campaign will be led jointly by the National Mining Corporation (SONAMINES), the Directorate General of Taxes, and the Directorate General of Customs.

Authorities will audit mining firms suspected of under-declaring production while investigating mining sites that allegedly operated outside official records. The government aims to recover unpaid royalties, mining taxes, and export duties tied to undeclared gold production over the past three years.

The initiative comes as African governments increasingly seek to boost domestic revenues amid rising debt pressures and tighter global financing conditions.

For Cameroon, the effort represents one of the country’s most ambitious attempts to formalize its gold industry and curb illicit mineral exports.

The case also highlights how international trade data is becoming an important tool in exposing illicit financial flows.

By comparing export declarations with customs records from importing countries such as the UAE, authorities can identify inconsistencies that point to underreported production or informal exports.

Cameroon is not alone in facing the challenge. Gold-producing countries including Ghana, Sudan, Mali, and the Democratic Republic of Congo have stepped up efforts in recent years to combat smuggling, strengthen mineral traceability, and improve revenue collection from the mining sector.

If successful, Cameroon’s tax recovery drive could serve as a model for how African governments use cross-border trade data to recover lost revenues and tighten oversight of one of the continent’s most valuable export industries.

Source: Business Insider Africa

Biya must end the scandal of illegal gold exports

21, July 2026

Biya must end the scandal of illegal gold exports 0

Our nation is watching one of its most valuable natural resources disappear through the back door. Reports that only 5% of the Cameroon’s gold production passes through government channels paint a very disturbing picture of a sector plagued by fraud, tax evasion and weak enforcement.

Billions of francs that should be funding schools, hospitals, roads and public services are instead enriching Cameroonian and international criminal networks and smugglers.

The fact that so much gold reportedly leaves Cameroon through the Yaounde-Nsimalen and Douala international airports raises serious questions about the effectiveness of customs controls and regulatory oversight. Such large-scale operations cannot continue indefinitely without glaring institutional failures that demand urgent investigation.

The Prime Minister Dion Ngute’s administration has a duty to explain how such an enormous volume of gold escapes legal channels. Parliament, anti-corruption agencies including judicial authorities should conduct an independent and transparent inquiry into the networks facilitating this illicit trade, identify those responsible and ensure that anyone found to have abused public office is held accountable.

Many Cameroonians believe that operations of this magnitude could not flourish without protection from influential individuals deep within the presidency of the republic.  Whether that belief is justified is precisely why an impartial investigation is essential. If senior officials, security personnel or politically connected figures have enabled or benefited from this illicit trade, they must face the full force of the law. If they have not, a credible investigation is the only way to restore public confidence.

Cameroon’s mineral wealth belongs to its people and not to smugglers, corrupt officials or criminal syndicates. Ending the illegal gold trade requires political courage, transparent governance and an unwavering commitment to accountability. Cameroon deserves nothing less.

By Soter Tarh Agbaw-Ebai

Chairman-Editor-In-Chief

War in Iran: 17 US soldiers killed since end of ceasefire

20, July 2026

War in Iran: 17 US soldiers killed since end of ceasefire 0

A third US soldier has died, this time in Iraq, during what US Central Command called the “controlled detonation” of a downed Iranian drone.

It brings the number of US soldiers killed in fighting to 17. This comes as the war in Iran expands following the fallout of a 60-day ceasefire in early July.

The risk of a wider war in the Middle East is growing after authorities in Bahrain and Kuwait said they intercepted missiles and drones launched from Iran.

Air raid sirens also sounded in Jordan’s capital, Amman, while Israel said it detected Iranian missiles targeting the coastal city of Aqaba.

The escalation comes after the US Embassy in Jordan urged American citizens, in a social media post, to avoid Aqaba’s airport and seaport because of a specific and credible threat.

By Isong Asu in London

Messi denied dream farewell as Argentina lose World Cup final to Spain

20, July 2026

Messi denied dream farewell as Argentina lose World Cup final to Spain 0

Lionel Messi could have ended all debate over who is the greatest player of all time by winning another World Cup with Argentina on Sunday, but he was left in tears following Spain’s 1-0 win.

Messi, now 39, dragged the holders to another final, scoring eight goals and also providing two assists in the dramatic late comeback against England in the semi-finals.

But the dream of lifting the trophy again, four years after he inspired Argentina to victory in Qatar, ultimately proved too good to be true.

Ten-man Argentina did not lay a glove on Spain at the MetLife Stadium, and were lucky to survive until the 106th minute, when Ferran Torres finally broke the deadlock.

The blunt South Americans struggled throughout the match and faced a huge challenge when Enzo Fernandez was sent off in stoppage time.

The final passed Messi by, and as he broke down in tears it was easy to think that he might have been much better off bowing out on that glorious night in Doha in 2022.

That victory allowed him to emulate Diego Maradona, who dragged Argentina to glory in 1986. But this time he emulated his legendary predecessor in a different way.

Maradona’s Argentina returned to the final as holders in 1990, only to deliver a dreadful, cynical display in losing 1-0 to West Germany, a game they finished with nine men.

They fouled their way through this game too, appearing to have no tactic other than to try to get under Spain’s skin.

Messi touched the ball only 54 times, with almost half of those coming in extra-time, and never looked like scoring the goal that would allow him to equal Kylian Mbappé’s overall World Cup record tally of 22.

Equalling Cafu

It was hard not to come to the conclusion that he ended up hindering his side once they were down to 10 men – he was left as their lone forward, when in any other circumstances coach Lionel Scaloni would surely have sent on the fresh legs of Lautaro Martinez in attack.

Argentina failed to become the first team to retain the World Cup since Brazil in 1962, but this was still a momentous day for Messi.

He became only the second player to appear in three World Cup finals, matching the achievement of Brazil great Cafu.

World Cup 2026: Argentine coach in tears after defeat to Spain

World Cup 2026: Argentine coach in tears after defeat to Spain
Cover image: World Cup 2026: Argentine coach in tears after defeat to Spain © AFP

Pelé won three World Cups, but did not play in the 1962 final due to injury. Maradona played in two finals.

If Messi does still have any doubters, they may point to the fact that he has now lost two of his finals, with this defeat following the loss to Germany in 2014.

Sunday’s final took place back at the same stadium where he sensationally announced his retirement from international football aged 29 in 2016.

He had won more than 100 caps by then, and was already regarded as one of the greatest players of all time thanks to his achievements with Barcelona.

A game too far

But with Argentina he had already lost three major finals, including the 2014 World Cup final, when he came to the MetLife Stadium for the Copa America Centenario decider against Chile in 2016.

The game ended 0-0, before Messi missed his penalty in the shootout as Argentina lost again.

“For me the national team is over,” he said then.

He went on to enjoy an incredible late career revival with his country, winning the Copa America back-to-back in 2021 and 2024, either side of the 2022 World Cup.

The 2026 tournament in North America felt at first like a victory lap for Messi, as he scored a hat-trick in the opening game against Algeria and the goals kept flowing.

He now has more than 200 caps, and has played a record 34 World Cup games across a joint-record six tournaments.

Surely this will bring the curtain down on his World Cup career, given he will be into his 40s in 2030.

There may, however, be calls for him to keep playing for his country a little longer, especially as he has a contract with Inter Miami until 2028.

It has been a glorious career, but Sunday’s final was a game too far for Messi and Argentina.

(FRANCE 24 with AFP)

Spain beat Argentina to win World Cup

19, July 2026

Spain beat Argentina to win World Cup 0

Ferran Torres scored the only goal of the game on Sunday as Spain beat 10-man Argentina 1-0 after extra-time to win their second World Cup.

The European champions dominated the match at the MetLife Stadium but struggled to find a breakthrough against the streetwise defending champions.

Argentina goalkeeper Emiliano Martinez made a string of saves to deny Spain, but the match changed complexion in second-half stoppage-time when midfielder Enzo Fernandez was sent off for a second yellow card after a reckless tackle on Pau Cubarsi.

Extra-time followed a familiar pattern, with Spain probing for the opening goal against a deep-lying Argentina.

The breakthrough eventually came in the early moments of the second period of extra-time when substitute Torres finished crisply following a brilliant knock-back by Nico Williams.

Luis de la Fuente’s Spain conceded just one goal in seven matches on their way to the final, suffocating opponents with their slick possession game.

Lionel Messi’s Argentina battled their way through the knockout rounds, coming back from the dead against Egypt and recovering from a goal down to beat England in the semi-finals.

Source: AFP

Lions: Christian Bassogog joins newly promoted Saudi Pro League outfit Al Faisaly

19, July 2026

Lions: Christian Bassogog joins newly promoted Saudi Pro League outfit Al Faisaly 0

Cameroon international Christian Bassogog has secured a return to the Saudi Pro League after completing a move to newly promoted side Al Faisaly ahead of the 2026/27 season.

The experienced forward joins Al Faisaly as a free agent following the expiration of his contract with Al-Okhdood Club, where he spent the previous campaign in Saudi Arabia. His arrival is expected to strengthen the club’s attacking options as they prepare for life back in the top flight.

Bassogog arrives with a wealth of experience gained from playing in several leagues across Africa, Europe, and Asia. Renowned for his blistering pace, direct attacking style, and ability to play across the frontline, the Cameroonian is expected to play a key role in Al Faisaly’s bid to establish themselves in the Saudi Pro League following promotion.

The former Indomitable Lions star has been without a club since parting ways with Al-Okhdood, making him one of the notable free agents on the market before Al-Faisaly moved swiftly to secure his services.

His return to the Saudi top flight also provides the veteran attacker with another opportunity to showcase his qualities in one of Asia’s fastest-growing football competitions, which has attracted an increasing number of international stars in recent years.

Bassogog’s extensive experience at both club and international level is expected to prove invaluable for Al Faisaly, particularly as the club seeks stability and survival in a highly competitive league.

Having represented Cameroon on numerous occasions, including at the Africa Cup of Nations, Bassogog brings leadership, versatility, and a winning mentality to a squad eager to make its mark in the upcoming campaign.

Al-Faisaly will be hoping the addition of the seasoned forward provides the attacking firepower needed to compete against some of Saudi Arabia’s strongest clubs, with Bassogog expected to be one of the team’s key figures throughout the season.

Source: Africa Soccer

Southern Cameroons Crisis: Gunmen kidnap seven passengers on the Bafoussam-Bamenda highway

19, July 2026

Southern Cameroons Crisis: Gunmen kidnap seven passengers on the Bafoussam-Bamenda highway 0

Seven passengers were kidnapped in Cameroon’s Northwest region late Saturday, security sources reported Sunday.

The passengers were traveling from the town of Bafoussam, the capital of the West region, to Bamenda, the capital of the Northwest, when armed men intercepted their vehicle.

Family members told local media the abductors are demanding a ransom for their release.

Ransom kidnappings are common in the English-speaking Northwest, where separatists have clashed with government forces in a push for independence.

Police say travelers are frequently targeted by gunmen suspected to be separatist fighters.

Source: Xinhuanet

Cameroon’s Afriland Bank opens in Central African Republic

19, July 2026

Cameroon’s Afriland Bank opens in Central African Republic 0

Afriland First Bank, the lender founded by Cameroonian billionaire Paul Fokam Kammogne, has become the first Cameroonian bank to establish itself in the Central African Republic, opening a branch in a market where fewer than one in ten adults holds a bank account.

The bank announced the opening in a statement on July 15, saying the branch has been operational since June. It is capitalised at 2.15 billion CFA francs, about $3.7 million, and is headed by Zavier Ngueutheu, previously manager of Afriland’s branch in the Cameroonian city of Bertoua.

The move follows authorisation granted in December by the Central African Banking Commission, the regional regulator known as COBAC, under a single-licence regime that allows banks licensed in one member state of the Central African Economic and Monetary Community to open branches across the bloc without seeking separate approvals.

The market Afriland is entering is small but largely untapped. Banking assets in the Central African Republic stood at 519.6 billion CFA francs, roughly $907 million, at the end of 2025. The country has about six million people, only four commercial banks, and a banking penetration rate estimated at 7 percent, leaving the overwhelming majority of the population outside the formal financial system.

Afriland has set an ambitious target. The bank aims to capture 10 percent of deposits in the market by 2030, according to projections submitted to the regulator, and intends to focus on local businesses alongside Cameroonian companies already operating in the country. It plans to build out retail banking, corporate banking and digital services.

The scale of the parent bank dwarfs the market it is entering. Afriland First Bank is the largest Cameroonian bank by balance sheet, with total assets of 2.55 trillion CFA francs, about $4.45 billion, at the end of December, alongside 1.95 trillion francs in deposits and 1.667 trillion francs in outstanding loans. Its new Central African branch holds capital equivalent to a fraction of a percent of that balance sheet.

The opening is the first step in a broader regional push. Afriland is preparing to enter Chad before the end of the year and has signalled plans for the Republic of Congo, markets it has targeted for several years but could not easily reach until the regional licensing rules were eased. The bank said its presence in the Central African Republic reflects a determination to support states, industrialists, investors and individuals across the monetary bloc with banking solutions and local expertise.

Fokam has been building toward this for decades. He founded the institution in 1986 as Caisse Commune d’Epargne et d’Investissement, securing its banking licence in July 1987 with initial capital of 300 million CFA francs, and renamed it Afriland First Bank in 2002. Its capital has grown to 50 billion francs. He has written about the resistance he faced from Cameroonian officials in the bank’s earliest days, describing repeated attempts to seek intervention from President Paul Biya to obtain the authorisation he needed.

The group now spans much of the continent. Afriland operates subsidiaries in the Democratic Republic of Congo, Equatorial Guinea, Guinea, Liberia, South Sudan, Sao Tome and Principe, Benin and Zambia, and has held interests in Uganda. The holding company, Afriland First Group, is based in Geneva and chaired by Fokam, a structure that has drawn periodic criticism from the regional central bank.

His influence extends beyond commercial banking. Fokam built a network of self-managed microfinance cooperatives known as MC2, designed to extend financial services into rural Cameroonian communities, a project he has described as the achievement he is proudest of. The group also runs an investment vehicle, Afriland First Holding, launched in Togo in 2022, which structured a roughly 800 billion CFA franc agro-industrial and power project signed with the Central African government and an Indian industrial partner last year.

That project helps explain the timing of the branch opening. Afriland was already involved in arranging large-scale investment in the Central African Republic before it had a banking presence there, and a local branch gives it the ability to service those transactions directly rather than through correspondent arrangements.

The expansion comes as the group rebuilds its footprint in Central Africa. Afriland had retreated to a single Cameroonian subsidiary in the region after Equatorial Guinea’s government bought out its stake in CCEI Bank GE, a transaction valued at about 44.7 million euros that made the state the majority shareholder in that country’s largest bank.

Fokam, now in his seventies, remains chief executive of the bank he founded and is counted among the wealthiest people in Cameroon. The Central African branch is the first tangible result of a regional strategy that has been years in preparation, and its performance against the 2030 deposit target will indicate whether the rest of the plan can follow.

Source: Billionaire.Africa

Cameroon, Swiss terminal operator explore options for Limbe Deep Seaport

18, July 2026

Cameroon, Swiss terminal operator explore options for Limbe Deep Seaport 0

The Cameroonian government and Swiss-based Terminal Investment Limited, TIL, have begun examining options for the development, modernization and operation of the future Limbe Deep Seaport. Initial discussions were held during a working session chaired by Prime Minister Joseph Dion Ngute in Yaoundé on July 15, 2026. The discussions brought together senior government officials and representatives of the global terminal operator to assess possible technical and investment models for the project, which authorities view as a strategic addition to Cameroon’s maritime infrastructure and logistics network.

The meeting focused on how the proposed deep-water port could support industrial activity, trade flows and logistics services in the South-West Region while complementing existing facilities in Douala and Kribi. Led by Director of Investments for Terminals, David El-Bez, the TIL delegation shared expertise on port development and advanced terminal operations.

“We came at the invitation of the Cameroonian authorities to examine the development possibilities for the Limbe Deep Seaport. We will now work together with the Cameroonian authorities to see what we can propose in terms of development and activities at the Limbe port,” David El-Bez told reporters after the meeting.

El-Bez said the project could support the development of factories, exports, imports and employment opportunities in the western and southwestern parts of the country. He noted that Limbe was not intended to replace the ports of Douala or Kribi but could occupy a complementary position within Cameroon’s coastal port network.

TIL is already active in Cameroon’s transport and logistics sector through MSC Cameroon, Medlog Cameroon, operations linked to AGL and activities connected to major maritime infrastructure. The company also has experience with container terminal operations in the country, giving it familiarity with local port systems and logistics requirements.

At the end of the meeting, government officials and TIL representatives committed to continuing discussions on technical aspects of the project.

Source: Business in Cameroon

Football: Spain, Argentina prepare for World Cup final

18, July 2026

Football: Spain, Argentina prepare for World Cup final 0

Lionel Messi’s Argentina are bidding to become the first team since Brazil in 1962 to win back-to-back World Cups, while Spain are trying to win a second title after their maiden victory in 2010.

Organisers said they were “monitoring closely” the smoke that has choked skies over large areas of the United States.

“There’s been discussion about it, and we have somebody with the National Weather Service that sits in FIFA headquarters there, so we’re monitoring closely,” Andrew Giuliani, White House World Cup task force executive director, told a briefing.

US President Donald Trump will be among a crowd of over 80,000 spectators as the largest World Cup in history reaches its climax in the MetLife Stadium in East Rutherford, New Jersey.

It will be the only game of the tournament that Trump has attended.

Mexican President Claudia Sheinbaum said she would also attend the final after an invitation from the American president.

Trump on Friday hailed the World Cup, also played in Mexico and Canada, as “the most successful sporting event perhaps in the history of the world” as he held a reception in New York with FIFA chief Gianni Infantino.

Physical battle

Spain captain Rodri said he was bracing for a “physical” battle with Argentina and would aim to ignore any possible “provocations”.

Rodri, the 2024 Ballon D’Or winner, said he expected the final to be unlike any other game the European champions had faced.

“I think Sunday’s match will be quite different,” the Manchester City star told reporters.

“It will be a more physical one, and we must be prepared. But I believe that if we are known for something in this national team, it is that we know how to play different games based on the moment.

“So we can adapt to having to defend, counter-attacking, to attacking. We are a very complete team, and that is why we are here.”

When asked if he expected Argentina to resort to “provocative” tactics, Rodri replied: “Well, that’s a part of football.”

Argentina coach Lionel Scaloni urged fans to make the most of seeing Messi lead out his team in another World Cup final at the age of 39.

“He has made history. He is a legend,” Scaloni said of the former Barcelona player, who helped Argentina to win the World Cup in Qatar in 2022.

For Argentinian goalkeeper Emiliano Martinez said he gets emotional when he reflects on the collective efforts that have gone into their success.

“Honestly sometimes I cry to myself thinking about what we have achieved,” he said.

“My message to my teammates is that they should enjoy this moment, prepare with a smile on our faces.

“This is something we will remember forever.”

England arrived in Miami to play France on Saturday in the meeting of the beaten semi-finalists to determine who finishes third.

England coach Thomas Tuchel admitted that their 2-1 defeat to Argentina in the semi-final had been painful.

“We have to live with this, so it’s our pain, my pain and the players’ pain — we feel the most pain of all,” Tuchel said at a press conference.

“And it is our scar that we carry now. It is a very painful defeat, and we have to live with this defeat.”

France coach Didier Deschamps vowed that no tears would be shed as he prepares to take charge of his final World Cup match, having guided them to glory in the 2018 edition and taken them to the final in 2022.

“I know that the final curtain falls tomorrow,” Deschamps said on Friday.

“No one here is going to cry, but I know I’ll miss the French team. For 15 years (he was appointed in 2012), I had the privilege of experiencing moments that were magical, and others that were difficult.”

Source: AFP

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