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24, November 2024

Brexit: UK wants to hire EU negotiator to ‘reset’ relations ⁰

The UK government is hiring a new negotiator to help deliver a “reset” of relations with Europe.

The job posting says the role will lead the government’s relationship with the European Union and negotiations with the EU “on key UK interests”, with mentions of trade, security and border policy.

Prime Minister Sir Keir Starmer has committed to a “reset” of relations between the UK and EU, and previously said he would seek a better deal on trade than the one negotiated by Boris Johnson in late 2020.

However, the prime minister has said that resetting does not mean reversing Brexit.

The new negotiator role is advertised as “a high-profile senior position that will receive significant public scrutiny and political attention” in the job posting published online by the Cabinet Office.

The Second Permanent Secretary for European Union and International Economic Affairs would act as a “sherpa” – “a senior and personal representative of the prime minister at international summits and engagements”.

The person would be required to oversee and lead policy development on trade, including the Windsor Framework, the Trade and Cooperation Agreement, the Entry and Exit Scheme – a new upcoming digital EU border scheme – and other border policy questions.

The salary range is £153,000 to £200,000.

A spokesperson for the Cabinet Office said: “As we reset our relationship with the EU, building closer trade and security links and encouraging more investment from around the world, this new role will oversee that work.”

“Reporting to the minister for European Union relations, they will lead official-level discussions with the EU as we drive economic growth.”

Starmer has said he wants to strengthen relations with the EU.

In October, he made his first visit to Brussels since becoming prime minister, where he was welcomed warmly by EU Commission President Ursula von der Leyen.

Starmer called for closer co-operation on defence and security, climate change, irregular migration, and on delivering economic growth to help make Brexit work in the UK’s interest, he said.

US President-elect Donald Trump’s senior economic advisor Stephen Moore told BBC Radio 4’s Today programme last week that the UK “has to choose between the Europe economic model of more socialism and the US model which is more based on a free enterprise system.”

He said the UK is “caught in the middle”, but believed “Britain would be better off moving towards more of the American model of economic freedom and if that were the case, I think it would spur the Trump administration’s willingness to do the free trade agreement with the UK”.

Source: BBC

22, November 2024

Ode to Princess Victorine Ako Tambi: A Charles Mambo family Production ⁰

The Charles Mambo family is honoring and celebrating an extraordinary woman whose tireless efforts and unwavering dedication have touched countless lives both in Cameroon and the United Kingdom.

The Mambos of Great Britain are privileged to present to the world Victorine Ako Tambi, a beacon of compassion, leadership and cultural pride.

Victorine Ako Tambi, a devoted mother and grandmother has been married to a titled man from Ndekwai village in Cameroon. Together, they have resided in London for the past decade, where Victorine Ako Tambi has emerged as a cornerstone of the Cameroonian community. Her remarkable journey is marked by her profound commitment to charitable work, social empowerment and cultural preservation.

In the wake of the conflict that erupted in English-speaking Cameroon in 2016, Lady Vicky stepped forward as a lifeline for countless families affected by the turmoil. Her unwavering support for orphaned children and needy families has provided hope and stability in the most trying times. Through her charitable initiatives, she has extended a helping hand, ensuring that the most vulnerable among us are not forgotten.

Vicky Ako Tambi’s influence extends beyond her philanthropic endeavours. As a fervent advocate for African women, she has utilized social media platforms to inspire and empower, fostering a sense of strength and solidarity among women across the continent. Her voice has been a catalyst for change, encouraging women to embrace their potential and strive for greatness.

In the United Kingdom, Lady Vicky’s contributions to the Cameroonian community are unparalleled. As the current President of the Manyu Elements Cultural Association (MECA UK), she has been instrumental in promoting and preserving our rich Cameroonian cultural heritage. Her leadership has brought our community closer, fostering unity and a shared sense of identity. Additionally, as a chartered member of the Board of Trustees of the Manyu Solidarity Group UK, she plays a crucial role in repatriating the remains of deceased Cameroonians, ensuring they rest in their homeland with dignity and respect.

Lady Vicky’s dedication to cultural promotion is further exemplified by her prominent role in MOHWA, a Manyu women’s cultural group with international recognition. Her active participation has elevated the group’s profile, showcasing the beauty and diversity of Cameroonian culture on a global stage.

Lady Vicky Tambi embodies the spirit of selflessness, resilience, and cultural pride. Her contributions have not only strengthened our community in the United Kingdom but have also had a profound impact on the lives of many in Cameroon. She is a true community personality, whose legacy of kindness and leadership will inspire future generations.

Everyone in the Charles Mambo family is appealing to all in the Cameroonian community in the United Kingdom to take a moment to express their deepest gratitude and admiration for Vicky Tambi.

The remarkable journey of this mother and grandmother born in Mamfe the chief town in Manyu Division to late Simon Eyong Mengot and late Mama Rose Eyong Mengot is a testament to the power of compassion and the enduring impact one individual can have on the world.

Lady Victorine Ako Tambi, we salute you, and we thank you for your unwavering dedication to making our world a better place.

A Charles Mambo family Production

22, November 2024

Vera Songwe appointed by South African President Cyril Ramaphosa ⁰

Vera Songwe has been appointed by South African President Cyril Ramaphosa to his country’s highly prestigious Economic Advisory Council. This is an advisory body responsible for proposing guidelines on issues of openness to the ecosystem of members, employability and entrepreneurship, as well as societal issues.

The renowned Cameroonian holds a doctorate in mathematical economics, a Master of Arts in law and economics and a postgraduate diploma in economic and political sciences from the Catholic University of Louvain in Belgium. She also holds a BA in Economics and Political Science from the University of Michigan.

Dr Vera Songwe is a Senior Visiting Fellow at the Brookings Institution, co-chair of the high-level panel on climate finance appointed by the UK and Egyptian governments alongside Lord Nick Stern. She is the former Under-Secretary-General of the United Nations and Executive Secretary of the Economic Commission for Africa (ECA).

She has led many efforts to bring greater prosperity to Africa. She has worked with African heads of government, finance ministers and central bank governors, international organisations and the private sector on macroeconomic stability, monetary policy, financial innovation and inclusive growth, economic integration and trade, and private sector development.

She is a globally recognised and respected leader and has provided policy advice to many continental and institutional leaders worldwide. Previously, Dr. Songwe was Regional Director of the International Finance Corporation, covering West and Central Africa. She oversaw a multi-billion dollar investment portfolio in energy, transport, manufacturing and technology. She has also held a number of positions at the World Bank, including Country Director and Adviser to the Managing Director for Africa, Europe and Central and South Asia. She spent 10 years of her career working and living in Asia.

She joined the World Bank as a young professional. Prior to joining the Bank, she was a visiting scholar at the Federal Reserve Bank of Minnesota and the University of Southern California. Dr Songwe was named African Icon of the Year in 2022 by the African Bankers Association for her work on SDRs, inflation, debt management and domestic resource mobilisation. She was named one of the ‘100 Most Influential Africans’ by Jeune Afrique in 2021 as well as the top 50 most influential African women by Forbes magazine in 2019 and one of the 25 Africans to Watch by the Financial Times.

By Rita Akana

21, November 2024

Ireland: Cameroonian woman fined for theft at PENNEYS ⁰

A mother-of-three who had spent more than €100 buying clothing to bring home to children in her native Cameroon has been fined after stealing extra items.

Caroline Kepnang appeared before Letterkenny District Court charged with theft at Penneys in Letterkenny on June 13th last.

Garda Sergeant Jim Collins told the court that Ms Kepnang, of Cruach Mor, Mountain Top, Letterkenny, entered the store and bought a number of items which she paid for.

However, she was stopped by security leaving the store after she had failed to pay for six pairs of leggings and a t-shirt.

She had pleaded guilty to the theft of the other items valued at €17.30.

Solicitor for the accused, Mr Frank Dorrian said his client’s mother had just died in Cameroon and she was returning home for her funeral having lived in Ireland for several years.

She had purchased a number of items of children’s clothing including pyjamas and t-shirts with cartoons on them to the value of more than €100.

She had planned to distribute the clothing to local children once she got home to Cameroon.

However, Mr Dorrian said his client had exhausted her funds and took the other items.

The court was told that Ms Kepnang had a previous conviction for theft but it went back as far as 2017.

Judge Eiteain Cunningham noted there was a previous conviction but said it went back to 2017 and fined Ms Kepnang €100 and allowed her the maximum time of six months to pay.

Source: Donegaldaily

21, November 2024

Arrest warrants for Israel’s Benjamin Netanyahu, Yoav Gallant ⁰

The International Criminal Court (ICC) has issued arrest warrants for the Israeli regime’s prime minister, Benjamin Netanyahu, and his former minister of military affairs Yoav Gallant, over war crimes against Palestinians in the besieged Gaza Strip.

The ICC’s Pre-Trial Chamber I, composed of three judges, announced the sentence in a statement on Thursday, six months after the court’s Prosecutor, Karim Khan, requested it. Earlier, the ICC panel dismissed Israel’s appeals, contesting its jurisdiction.

20, November 2024

Wall Street falls as Russia-Ukraine tensions raise concerns ⁰

Wall Street’s main indexes dropped on Wednesday, as continued escalation of Russia-Ukraine tensions worried investors, while megacap Nvidia lost ground ahead of quarterly results.

Stocks dipped after a report Ukraine fired long-range British Storm Shadow missiles into Russian territory. That followed Ukraine launching US-made ATACMS missiles into Russia on Tuesday, and Russia announcing it had lowered the threshold for nuclear action.

Wall Street’s “fear gauge” jumped to 18.79 before easing slightly, but it was still trading at its highest since the November 5 US presidential election.

“There’s been more missiles firing between Ukraine and Russia, and the market doesn’t know what to think of that … tensions are escalating, not deescalating and that’s why you’re seeing the selloff in the markets,” said Dennis Dick, trader at Triple D Trading.

Meanwhile, AI leader Nvidia, which is scheduled to report results after the bell, dropped 0.8%, reversing modest premarket gains. The index heavyweight dragged the Information Technology sector as well as the tech-heavy Nasdaq.

Target plunged 20.7% after the retailer forecast holiday-quarter comparable sales and profit below Wall Street expectations following a third-quarter estimate miss.

It dragged down other retailers such as Dollar Tree and Dollar General which fell 3.4% and 4.9%, respectively.

Among other growth stocks, Tesla lost 1.8% and Amazon.com shed 1.7%.

The consumer discretionary and consumer staples indexes lost 1.1% and 0.9%, respectively.

But the spotlight remained on Nvidia, which has nearly tripled in value this year, accounting for about 20% of the S&P 500’s returns over the last 12 months, according to BofA Global Research.

“While expectations for Nvidia are high heading into its latest earnings report, we expect the company to report another strong quarter and live up to these high expectations,” said Clark Bellin, chief investment officer, Bellwether Wealth.

At 10:55 a.m. the Dow Jones Industrial Average fell 40.15 points, or 0.09%, to 43,228.79, the S&P 500 lost 30.00 points, or 0.51%, to 5,886.98 and the Nasdaq Composite lost 123.86 points, or 0.65%, to 18,863.61.

Cryptocurrency stocks ticked higher as bitcoin jumped above $94,000, with MicroStrategy and MARA Holdings up 14.6% and 13%, respectively.

Comments from Federal Reserve officials including Michelle Bowman and Susan Collins are expected through the day.

Traders have increased their bets on the US central bank leaving interest rates unchanged at its December meeting in the wake of strong economic data and signs of persistent inflation. They see a 44.5% chance of a pause next month, according to CME’s FedWatch tool.

Fed Governor Lisa Cook said recent data suggests that more cuts are likely appropriate as disinflation is expected to continue.

Declining issues outnumbered advancers by a 1.85-to-1 ratio on the NYSE and a 1.38-to-1 ratio on the Nasdaq.

The S&P 500 posted 25 new 52-week highs and nine new lows, while the Nasdaq Composite recorded 66 new highs and 107 new lows.

Source: Reuters

20, November 2024

Star Building: Prime Minister Dion Ngute chairs cabinet meeting ⁰

On Tuesday 19 November 2024, Prime Minister Joseph Dion Ngute chaired a cabinet meeting.

Cameroon Concord News understands the meeting focused on the presentation of the aggregates of the 2025 preliminary finance bill: its general configuration and the main thrusts of the public investment budget.

Dion Ngute called on his government team to comply with the guidelines set out by President Biya in a circular dated 23 November 2024 on the preparation of the State budget.

‘I invite my team to respect the guidelines contained in the Presidential Circular of 23 October 2024, and to take into account the requirements induced by the principles of rationalisation and prioritisation’, insisted Chief Ngute.

The circular signed by the Head of State defines the overall objective assigned to the State budget for the 2025 financial year.

‘During 2025, the overall objective of public action remains the strengthening of the economic growth dynamic, as well as its inclusive nature, in order to promote the industrial transformation of our productive fabric and an improvement in the living conditions of the population. To this end, the following levers of action should be implemented as a matter of priority’, states the Biya document.

By Rita Akana in Yaoundé

20, November 2024

Italy and Greece join US in closing Kyiv embassies over Russia attack threat ⁰

The US embassy in Kyiv is temporarily closed as it says it received information of a “potential significant air attack on 20 November”

Italy and Greece have also closed their embassies in Ukraine’s capital, while the UK’s embassy remains open, the Foreign Office says. The Spanish embassy closed for several hours but is now open

An air raid alert briefly sounded in Kyiv and other parts of Ukraine hours after the US announcement.

Source: BBC

20, November 2024

Real Madrid’s Vinícius Jr traces ancestry to Cameroon through DNA test ⁰

A Deoxyribonucleic Acid (DNA) test has revealed that Vinicius Jr., the Brazil and Real Madrid star winger, has ancestral roots in Cameroon.

The test conducted by the Brazilian Football Confederation (CBF) in partnership with AfricanAncestry.com on Tuesday, November 19, 2024, at Fonte Nova revealed that the player’s ancestry is rooted in the Tikar tribe of Cameroon.

A certificate recognising Vinicius Jr’s Cameroonian heritage was issued, along with a video highlighting the legacy of his Tikar forebears, a prominent tribe in Cameroon.

The initiative is part of the CBF’s ‘Roots of Gold’ campaign, which honours the history and pride of the Afro-Brazilian community, with a special focus on football.

Speaking about his roots, Vinicius said, “Discovering that my roots are in Cameroon is a very special moment for me and my family.

“It reminds me that, despite the challenges, our origins and our history count for a lot.”

In response to the discovery, Vinícius’ father shared his excitement, saying, ‘It’s important for us to know where we come from. Many Brazilians are unaware of their ancestry or heritage. I’m happy that we have roots in Cameroon too.’

The founder and president of AfricanAncestry.com, Gina Paige, underscored the importance of helping people of African descent reconnect with their heritage.

“Vini Jr. carries within him the desire to honour his heritage. However, like many individuals of African descent, his ancestral story has been erased by racism and the legacy of slavery. Through a DNA test, we discovered that Vini Jr.’s ancestors belong to the Tikar tribe in Cameroon.

“We believe that Vini’s reconnection with his African roots is a powerful ‘act of resistance,’ in line with his advocacy for social justice both on and off the football pitch,” Page said.

In honor of his ancestry, Vinicius Jr. wore a special jersey featuring the flags of Brazil and Cameroon for the match against Uruguay, which ended in a 1-1 draw, with the winger playing the entire 90 minutes.

Source: Vanguardngr

19, November 2024

EU to invest CFA 60bn in key infrastructure projects in Cameroon ⁰

As part of the second phase of the Multiannual Indicative Program (MIP) 2025-2027, the European Union (EU) has announced it will mobilize €91 million (around CFA60 billion) to fund infrastructure projects in Cameroon. This initiative seeks to support the country’s economic and social development, strengthen key sectors, and promote regional integration within Central Africa. The announcement was made during the third session of the Economic and Technical Dialogue on the Cameroon-EU partnership, which took place on November 14, 2024, in Yaoundé.

Among the projects benefiting from this funding are two major initiatives: the construction of a bridge over the Ntem River between Cameroon and Equatorial Guinea, and the extension of Cameroon’s railway network to Chad. Other key projects include the Yaoundé bypass road, which aims to reduce traffic congestion in the capital, and the Kikot hydroelectric project, which will strengthen the national power supply.

“These strong commitments from the European Union, in the form of grants and budget support, aim to accelerate the completion of key infrastructure projects and reinforce structural reforms for better public financial management and enhanced competitiveness for Cameroon,” stated the Ministry of Economy’s communication service.

The EU is already involved in funding major projects that are transforming Cameroon’s infrastructure. One example is the Nachtigal hydroelectric dam (Central Region), which has a capacity of 420 MW. Supported by the EU, this project will provide nearly 30% of the electricity to the southern interconnected grid of Cameroon and play a key role in stimulating the country’s industrial growth. Another important project is the construction of the bridge over the Logone River, which will connect the Cameroonian city of Yagoua to the Chadian city of Bongor. Once completed, this bridge will provide a third official crossing point between the two countries, strengthening trade relations and contributing to sub-regional integration.

In addition to infrastructure projects, a significant portion of the discussions during this session of the Economic and Technical Dialogue focused on improving the business climate in Cameroon. The EU and the Cameroonian government are working to make the country more attractive to private investors by facilitating access to funding that supports entrepreneurship and stimulates economic activity. The EU plans to implement financial mechanisms through the Neighbourhood, Development and International Cooperation Instrument (NDICI-Global Europe) and the Global Gateway program. These initiatives will particularly target small and medium-sized enterprises (SMEs), especially in the infrastructure and energy sectors. Minister Alamine Ousmane Mey emphasized that the growth of the private sector is crucial for job creation and wealth generation. “A vibrant and productive private sector means more jobs, more wealth, and a better quality of life for the people. This is a priority for us, and through our cooperation with the European Union, we believe we will receive more support,” he said.

The announced funding is part of the MIP 2021-2027, which was officially launched in February 2022 in Yaoundé. The MIP is designed to structure and strengthen the EU’s response to the multiple challenges Cameroon faces, particularly in governance, democratic consolidation, peace, and stabilization. The program focuses on inclusive growth, with particular attention to the private sector, the creation of decent jobs, and environmental sustainability. The program spans seven years, with a solid commitment for the 2021-2024 period. The EU has allocated an additional CFA88 billion for the 2025-2027 period, with new priorities, including digitalization, which has been added as the fourth priority area of the program.

Source: Business in Cameroon