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5, June 2026

Cameroon, Canadian mining investor BWA Group appoints new CEO ⁰

UK-listed mining investment company BWA Group has promoted nonexecutive director Peter Taylor as CEO effective June 1.

Taylor has been a nonexecutive director of BWA Group since August 2024, providing strategic guidance on the development of the company’s exploration portfolio comprising nickel, copper, cobalt and gold in Canada and Cameroon.

He brings to the position extensive experience across exploration, project development and mining having previously worked as CEO of Aim-listed Pathfinder Minerals, which has two heavy mineral sands licences in Mozambique.

Taylor also held senior operational roles at Affero Mining where he was involved in the development of the New Liberty gold mine, in Liberia, and the Nkout iron-ore project, in Cameroon.

BWA Group’s principal asset is three exploration licences in Cameroon comprising the Aracari project, in addition to five mineral sands licences it has in the country, while its main focus in Canada is the work of Kings of the North Corporation on two licence groups in Isoukustouc and Winterhouse, Quebec.

These projects are considered early exploration stage, prospective for structurally controlled gold and silver at Winterhouse, and intrusion related copper, nickel and cobalt at Isoukustouc.

Source: miningweekly

5, June 2026

Edéa: Pope Leo accepts retirement of Bishop Jean-Bosco Ntep ⁰

Pope Leo XIV has accepted the retirement of Bishop Jean-Bosco Ntep from the pastoral care of Cameroon’s Catholic Diocese of Edéa and appointed Mons. Paul Nyaga Nwaha, Secretary General of the National Episcopal Conference of Cameroon (NECC), as Apostolic Administrator of the Diocese.

The changes were made public by the Holy See Press Office on Thursday, June 4 and announced by the President of NECC, Archbishop Andrew Fuanya Nkea, during the Catholic Bishops’ 51st Plenary Assembly.

Born on 3 April 1951 in Hikoamaen, Cameroon, Bishop Ntep was ordained a Priest on 25 March 1979.

In 22 March 1993, St. John Paul II appointed him the first Bishop of the Catholic Diocese of Eséka, which had been erected the same day. He was Consecrated Bishop in July 1993.

After 11 years and three months leading Eséka Diocese, Bishop Ntep was appointed Bishop of Edéa on 15 October 2004 and installed on 4 December 2004.

Mons. Nyaga, who will govern the Diocese Edéa until a Local Ordinary is appointed was born in 1959 and ordained a priest for Cameroon’s Catholic Archdiocese of Douala in 1987.

He studied theology at the Pontifical Urbanian College in Rome and later attended the Pontifical Ecclesiastical Academy, earning doctorates in both Canon and Civil Law and in Ecclesiology.

Following his Priestly Ordination, he served as Vice-Rector of Saint Paul Minor Seminary in Nylon before undertaking assignments in several Apostolic Nunciatures.

Upon returning to Douala, he served as Vicar General of the Archdiocese, Rector of St. Jerome Catholic University of Douala, and President of the Ecclesiastical Tribunal of the Ecclesiastical Province of Douala.

Before his appointment as NECC Secretary General, Mons. Nyaga was Parish Priest of Saint Monica of Makèpè.

He also served as Parish Priest of Our Lady of Lourdes of Japoma, St. Paul of Nylon, and Saint Louis of Bonabéri. In addition, he taught at the Major Theological Seminary of Douala and served as Episcopal Vicar for the Wouri 8 pastoral zone.

On 2 May 1994, he was named Chaplain of His Holiness (Cappellanus Sanctitatis Suae), a papal honorific that confers the title “Monsignor.”

The Diocese of Edéa covers 10,500 square kilometers and, according to 2023 statistics, has 185,368 Catholics, representing 60.8 percent of the total population.

Part of the ecclesiastical province of the Archdiocese of Douala, the Diocese was erected on 22 March 1993.

Source: aci Africa

4, June 2026

National Episcopal Conference: Bishops renew call for peace ⁰

The President of the National Episcopal Conference of Cameroon (NECC), Archbishop Andrew Fuanya Nkea, has renewed the Catholic Church’s call for peace and dialogue, urging both Church leaders and political authorities to address the root causes of conflict as the country continues to face security, political, and socio-economic challenges.

Speaking during the opening ceremony of the 51st Plenary Assembly of NECC members, Archbishop Nkea emphasized that peace must remain a national priority, particularly in Cameroon’s conflict-affected North-West, South-West, and Far North regions.

“Peace is a fundamental human right, indispensable for the development of peoples, social cohesion, economic progress, and respect for human dignity,” Archbishop Nkea said on Tuesday, June 2.

The Local Ordinary of Cameroon’s Bamenda Archdiocese reflected on the April 15-18 Apostolic Journey of Pope Leo XIV to Cameroon, describing it as a historic moment for the local Church and a source of renewed hope for the nation.

“At a time when our Church and our country needed it most, he accepted, against all odds, even risking his own life, to come and comfort us and renew in us the hope that does not disappoint,” the NECC President said.

He also highlighted the Holy Father’s appeal for reconciliation and an end to violence, recalling that Pope Leo XIV spoke of the suffering caused by the conflicts affecting parts of Cameroon, including the loss of lives, the displacement of families, disruptions to education, and growing uncertainty among young people.

The Cameroonian Archbishop said the Church remains committed to promoting peace, dialogue, and hope while encouraging greater investment in the country’s youth as an essential part of building a stable future.

Quoting Pope Leo XIV, Archbishop Nkea noted that the tensions and violence affecting parts of Cameroon have caused profound suffering, including loss of life, displacement of families, disruption of education, and uncertainty among young people.

“Enough of war, with all the pain it causes through death, destruction, and exile,” the Catholic Archbishop said, echoing the Pope’s call.

He emphasized that peace cannot be achieved solely through political declarations but requires a sincere commitment to dialogue, conversion, justice, and national reconciliation.

“We will never achieve lasting peace without a firm decision to choose the path that leads to it, with all its demands of conversion, love for country, change of mentality, and dialogue,” he said.

As Cameroon prepares for future municipal elections, Archbishop Nkea called for prayers and vigilance, noting that elections in the country are often accompanied by tensions and violence.

“The appeasement that we contributed to create after the presidential election was not a sign of weakness, but a necessity for our society,” he said.

A significant portion of the Archbishop’s address focused on the role of young people in building a peaceful and prosperous future.

Drawing from Pope Leo XIV’s remarks during his visit, Archbishop Nkea emphasized that youth remain the nation’s greatest hope.

“Young people represent the hope of the country and of the Church. Their energy and creativity are priceless treasures,” he said.

He warned that unemployment, social exclusion, and lack of opportunities continue to expose many young people to violence, migration, drug abuse, prostitution, and despair.

“Investing in education, training, and entrepreneurship for young people is therefore a strategic choice for peace,” Archbishop Nkea said.

The NECC president also encouraged the Church in Cameroon to reflect on Pope Leo XIV’s recent encyclical, Magnifica Humanitas, particularly its teaching on the ethical challenges posed by Artificial Intelligence (AI) and digital technologies.

“In times marked by the challenges posed by a certain use of digital technology and artificial intelligence, we must discern how to receive the Holy Father’s encyclical in our context,” he said.

Archbishop Nkea also used the occasion to celebrate the 60th anniversary of NECC, describing the milestone as a testament to six decades of evangelization, ecclesial maturity, and faithful service to the people of God.

The 51st Ordinary Plenary Assembly of the NECC, running from May 31 to June 5, is bringing together Catholic Bishops from across Cameroon to review pastoral priorities, discuss national concerns, evaluate Church projects, and strengthen their collective mission of evangelization.

Throughout the gathering, Archbishop Nkea said, the Bishops are to continue praying for peace in Cameroon and around the world while seeking ways to respond to the challenges facing the Church and society.

“We freely chose to come together and persevere in our journey toward eternity. May the Holy Spirit remain the principal protagonist of our communion and collegiality, so that our work may be for the glory of God and the salvation of all,” he said.

Source: aci Africa

4, June 2026

What does President Biya really want? Money, women or cigarettes? ⁰

Paul Biya came to power at 49. Fewer people in Cameroon at that time were criminals and what did he do? Nothing.

After more than 40 years as head of state, Biya is now a champion of incompetence and a pretty mess in human form.

This begs the question: what does President Biya really want? Money, women or cigarettes? The answer is none of the above.

What every long-serving dictator in Africa eventually wants is something far more elusive. To be sure, another tomorrow that looks exactly like yesterday.

Money? At a certain point in power, the treasury is just accounting.

Women? We of the Cameroon Concord Group can only speculate, but the Unity Palace has a bigger fish to fry.

Cigarettes? Even a chain smoker eventually puts one out.

Frankly speaking, the true object of desire in our editorial office in London is longevity itself. Not biological longevity, not political longevity but the ability to wake up, glance at the calendar and discover that another decade has quietly slipped by while you remained in the same chair.

In this current dispensation, ministers come and go. Presidential advisers come and go. Political trends in Yaounde come and go. Prime Ministers are being appointed. Governments are being changed. Citizens complain. Yet Unity Palace remains as immovable as a mountain that has misplaced its retirement paperwork.

Concerned citizens have been asking, “Why stay so long?” Supporters answer, “Why leave?” Civil administrators answer, “Register your media outlet with the authorities in Yaoundé before asking difficult questions.”

Meanwhile, the nation is watching a political drama so long-running that it risks being reclassified as a geological formation.

So what does President Biya really want?

According to this editorial: not money, not women not cigarettes.

Biya wants the same thing every veteran of power is accused of wanting by journalists all over the world: One more term. Then one more after that. And perhaps, just for administrative convenience, one more after that.

By Soter Tarh Agbaw-Ebai

4, June 2026

Iran Navy targets ‘command center’ aboard US destroyer ⁰

The Iranian Navy announces targeting the “command-and-control center” behind recent US violations, saying the facility was located aboard an American destroyer operating in the Sea of Oman.

The development was announced in a statement released by the Army’s Public Relations Office on Wednesday.

The strike came in response to aggressive US measures against Iranian commercial shipping and violations related to the Strait of Hormuz, the statement read.

According to the statement, the operation was carried out after Iranian forces detected and identified the source of the atrocities.

“A few hours ago, following aggressive actions, violations of the regulations governing the Strait of Hormuz, and hostile acts against Iranian commercial vessels in the Sea of Oman by the terrorist and aggressive US military, the Navy, immediately upon detecting and identifying the source of those actions, targeted the command-and-control center responsible for them,” it added.

According to the statement, the command-and-control center was located aboard a US destroyer “that was attempting to approach the waters of the Islamic Republic.”

Iran confronted the latest bout of unprovoked aggression by the United States and the Israeli regime, which began on February 28, with at least 100 waves of decisive and successful retaliatory strikes. The reprisal hit sensitive and strategic American and Israeli targets throughout the region. The Islamic Republic also shut down the Strait of Hormuz to enemies and their allies.

Faced with the response, US President Donald Trump announced a unilateral ceasefire on April 7.

The Islamic Republic began applying far stricter controls over the strait after Trump announced continuation of an illegal naval blockade of Iranian vessels and ports on April 13 in violation of the terms of the ceasefire.

Amid the developments, Iran introduced the Persian Gulf Strait Authority (PGSA), a new institutional mechanism to regulate and oversee vessel traffic through the chokepoint.

Source: Presstv

4, June 2026

Cameroon’s power crisis exposes the financial fault lines of the electricity sector ⁰

Cameroon’s electricity sector has entered a new period of turbulence after two major power plants suspended their output from the Southern Interconnected Grid (RIS), exposing the financial vulnerabilities that continue to threaten the country’s power supply.

In a statement issued on June 2, 2026, the Ministry of Water and Energy said Kribi Power Development Company (KPDC) and Dibamba Power Development Company (DPDC), both subsidiaries of Globeleq, withdrew their generating capacity from the grid on June 1 at 9 a.m.

The two facilities play a critical role in Cameroon’s power system. The Kribi gas-fired plant has an installed capacity of 216 MW, while the Dibamba heavy-fuel-oil plant provides 88 MW, particularly during periods of peak demand. Together, they account for 304 MW of installed capacity.

A Tax Dispute Becomes a Power Crisis

According to the ministry, the shutdown followed the freezing of Globeleq’s bank accounts by tax authorities as part of a forced collection procedure tied to unpaid tax obligations.

However, the ministry also pointed to a broader issue: persistent payment delays by the electricity distribution concessionaire. That detail suggests the crisis extends well beyond a tax dispute between the government and a private power producer.

Instead, it reflects a chain of financial pressures across the sector. Delayed payments by the distributor weaken power producers, which must still meet their operational, financial, contractual, and tax obligations. When cash flow breaks down at one point in the chain, the consequences can quickly spread throughout the system.

In other words, while tax authorities acted over fiscal compliance issues, those issues emerged within a sector where operators depend heavily on timely payments from the distributor. Once that flow of funds is disrupted, financial stress can quickly turn into a supply crisis.

40% of Customers Affected

The impact on electricity supply was immediate. The ministry said the loss of generation capacity caused a significant reduction in available power on the Southern Interconnected Grid, leading to outages and load shedding affecting around 40% of customers in the Littoral and West regions.

Those regions are especially sensitive to supply disruptions because they host a large share of Cameroon’s economic activity, including Douala and its industrial hub. A sudden loss of generation capacity can therefore translate into production losses for businesses and deteriorating service for households.

Government Steps In

In response, Water and Energy Minister Gaston Eloundou Essomba has opened discussions with Finance Minister Louis-Paul Motaze. The government hopes consultations among the relevant ministries and stakeholders will lead to a rapid resolution of the dispute and allow the affected plants to return to service.

According to the ministry, the objective is to restore the withdrawn generation capacity and stabilize electricity supply on the Southern Interconnected Grid as quickly as possible.

Socadel Emerges as the Weak Link

Beyond the immediate crisis, the episode has brought renewed attention to the financial health of Cameroon’s electricity distribution business. The ministry explicitly referred to cash-flow pressures linked to persistent unpaid bills by the distribution concessionaire. That concessionaire is now the Cameroon Electricity Distribution Company (Socadel), which took over distribution activities as the government increased its control over the sector.

The scale of the problem is significant. According to the Eneo-Socadel restructuring plan, the distributor faces an average monthly financial deficit of around CFA13 billion. The company reportedly collects about CFA31 billion per month while its cash operating expenses reach roughly CFA44 billion.

That imbalance helps explain how financial stress spreads through the sector. When the distributor cannot meet its obligations, independent power producers face payment delays. Those producers must nevertheless continue funding operations, debt service, contractual commitments, and taxes.

The KPDC-DPDC dispute illustrates exactly how that process works. In a highly interconnected sector, a liquidity shortage at the distribution level can eventually affect generation and, ultimately, electricity consumers.

A Familiar Crisis

The current situation echoes events in 2024 and 2025, when the Kribi and Dibamba plants also reduced or suspended operations because of unpaid bills owed by the distributor to Globeleq.

At the time, Kribi’s gas-fired plant returned to service only after months of disruption linked to CFA137 billion in unpaid invoices claimed by Globeleq from Eneo. The amount covered payments due to both KPDC and DPDC.

The difference today lies in the immediate trigger. While previous disruptions stemmed directly from unpaid bills, the current crisis began after tax authorities froze Globeleq’s accounts. Yet the underlying problem remains unchanged: the financial structure of Cameroon’s electricity sector remains too fragile to absorb payment shocks without threatening service continuity.

When Tax Enforcement Meets Energy Security

The KPDC-DPDC dispute also exposes a difficult balancing act for the government. On one side, tax authorities must enforce compliance with fiscal obligations. On the other, the Ministry of Water and Energy must safeguard electricity supply.

When the accounts of a strategic power producer are frozen in a sector already burdened by payment delays, a tax enforcement measure can have consequences far beyond government revenues. The impact can quickly extend to energy security, industrial activity, and social stability.

That reality explains the urgency behind the consultations now underway between the ministries and affected stakeholders.

Nachtigal Has Not Eliminated Every Risk

The crisis has also revived debate over the role of the 420-MW Nachtigal hydropower project in strengthening Cameroon’s electricity supply. Nachtigal Hydro Power Company announced on March 18, 2025, that the facility had reached its full capacity after the final generating unit entered service.

But additional capacity alone does not guarantee system stability. Electricity supply still depends on several factors, including plant availability, regional grid balance, seasonal hydrological conditions, transmission infrastructure, power-purchase agreements, and the financial health of sector participants.

Nachtigal has strengthened the country’s generation base, but it has not resolved the governance and liquidity issues that continue to undermine the sector. The withdrawal of KPDC and DPDC demonstrates that energy security depends not only on available megawatts but also on the ability of the system to pay suppliers, operate infrastructure, dispatch power, and maintain assets.

Globeleq’s Exit Adds Another Layer of Uncertainty

The episode comes at a sensitive moment for Globeleq, which is preparing to exit Cameroon after more than a decade of operating the Kribi and Dibamba plants.

According to local reports, discussions have begun over a potential acquisition of the two assets, which have capacities of 216 MW and 88 MW, respectively.

Any transfer of ownership could trigger a broader review of the contracts governing both facilities. One objective reportedly under consideration is reducing the financial burden on the distributor and restoring balance across the sector.

That context makes the current dispute particularly significant. The issue is no longer just about reconnecting two power plants to the grid. It is also about determining the future ownership of strategic assets, the sustainability of power-purchase agreements, and the government’s ability to stabilize a sector that still requires substantial investment.

A Liquidity Crisis With Public-Service Consequences

The withdrawal of KPDC and DPDC is more than an operational incident. It is a warning about the financial sustainability of Cameroon’s electricity system.

The sector remains trapped in a difficult cycle: the distributor collects less than it spends, payment delays accumulate, producers come under financial pressure, and tax obligations become harder to meet. When that cycle breaks down, the consequences extend far beyond company balance sheets.

The result is fewer megawatts available to the grid and more consumers facing power cuts. Restoring the withdrawn generation capacity remains the immediate priority. The larger challenge is determining how Cameroon can secure reliable electricity supply while producers, distributors, and public authorities continue to operate within a system marked by payment arrears, fiscal pressures, and recurring contract disputes.

Socadel’s reported CFA13 billion monthly cash deficit illustrates the scale of the challenge. The issue is no longer limited to a dispute involving Globeleq. It has become a test of whether Cameroon can restore the financial foundations of a sector that underpins the entire economy.

Source: Business in Cameroon

2, June 2026

Oil steady, stocks mixed with all eyes on Mideast war prospects ⁰

Wall Street wavered at the US opening after the Dow, S&P 500 and Nasdaq all posted fresh record highs on Monday, even as oil prices soared on reports of stalled talks to end the Mideast war.

The concerns eased after US President Donald Trump insisted that the talks were moving rapidly and that Israel and Hezbollah had agreed to stop fighting — though Israeli strikes resumed Tuesday.

“There is no concrete progress in Middle East negotiations… but investors appear broadly optimistic that a longer-term resolution will be reached,” said Susannah Streeter, chief investment strategist at Wealth Club.

David Morrison at Trade Nation noted that despite the oil market turmoil, “prices remained near the bottom of their recent range”, and well below the $100 a barrel seen a few weeks ago.

Even a surge in eurozone inflation in May to 3.2 percent, all but ensuring an interest rate cut later this month by the European Central Bank, was not enough to dent European stocks Tuesday.

Underpinning the optimism was a new batch of headlines from US artificial intelligence giants.

Nvidia shares opened higher after jumping more than six percent on Monday after the chip colossus unveiled a powerful laptop chip for Windows machines.

That came as Google parent Alphabet announced plans to raise up to $80 billion in stock to fund a major expansion of its AI infrastructure, with Warren Buffett’s Berkshire Hathaway committing $10 billion.

And Anthropic, maker of the Claude chatbot, said it had filed confidentially for an initial public offering that could value the AI group at nearly one trillion dollars.

The news propelled Seoul’s stock market, which has been at the forefront of the AI rally this year and ended at another all-time high, with Samsung shares up more than three percent.

“Headlines around Iran grab the steering wheel but the AI trade remains the engine for stock markets,” said Saxo Markets analyst Neil Wilson.

The outlook for US interest rates is also on the agenda, with the release of jobs data on Friday that could determine if the Federal Reserve will keep its benchmark rate stable, or potentially hike borrowing costs to bolster the world’s biggest economy.

Key figures at around 1400 GMT

Brent North Sea Crude: FLAT at $94.95 a barrel

West Texas Intermediate: UP 0.1 percent at $92.25 a barrel

New York – DOW: DOWN 0.3 percent at 50,952.18 points

New York – S&P 500: DOWN 0.1 percent at 7,592.29

New York – Nasdaq: DOWN 0.1 percent at 27065.31

London – FTSE 100: UP 0.1 percent at 10,347.85

Paris – CAC 40: UP 0.5 percent at 8,183.49

Frankfurt – DAX: UP 0.3 percent at 25,079.03

Tokyo – Nikkei 225: DOWN 0.3 percent at 66,734.24 (close)

Hong Kong – Hang Seng Index: UP 2.5 percent at 26,038.32 (close)

Shanghai – Composite: UP 0.4 percent at 4,075.10 (close)

Euro/dollar: UP at $1.1641 from $1.1632 on Monday

Pound/dollar: UP at $1.3469 from $1.3458

Dollar/yen: UP at 159.82 yen from 159.67 yen

Euro/pound: UP at 86.45 pence from 86.43 pence

Source: AFP

2, June 2026

Israel: Senior Mossad official quits after Gofman appointed as head ⁰

A senior Mossad official has resigned from his position after the appointment of Roman Gofman as head of the Israeli spy agency, a move that pundits say is a clear sign of tensions within the Tel Aviv regime’s intelligence service.

According to the Israeli Hebrew-language Channel 12, the official, known by the letter “D”, used to serve as the head of the Teifel department, which is responsible for foreign intelligence relations in Mossad.

He announced his resignation on Monday, just a few hours after the Supreme Court issued a ruling confirming Gofman’s appointment as head of the organization.

The report added that “D” was among the most serious options for the position of the head of Mossad and, before resigning, held the highest position among the heads of the organization’s departments.

According to the Israeli channel, the “Teifel” (meaning “world”) department is responsible for managing Mossad’s foreign intelligence relations and coordinating with intelligence agencies around the world. It is also responsible for developing and managing communication channels and diplomatic relations with countries with which Israel does not have formal relations.

The public Israeli broadcaster KAN also noted that more senior Mossad officials are expected to resign shortly.

Source: Presstv

2, June 2026

Yaoundé Forum backs shift from transit corridors to industrial value chains ⁰

Stakeholders from the transport and industrial sectors, policymakers, investors and regional institutions have called for Central Africa’s transport corridors to evolve from transit routes into industrial integration platforms capable of accelerating local processing, strengthening regional value chains and expanding participation in the African Continental Free Trade Area (AfCFTA).

The call was made at the opening of the fifth edition of Pro Meet Up in Yaounde on June 1. Held under the theme “Central Africa 2035: Integrator Corridors, Catalysts for the Development of Sub-Regional Value Chains,” the forum brings together public and private sector actors seeking to identify projects that can transform logistics infrastructure into drivers of industrial production and cross-border competitiveness. Organisers say the objective is to move beyond discussions centred solely on transport efficiency by developing pilot projects capable of converting existing corridors into platforms for local transformation of raw materials and value-chain expansion.

The opening ceremony was presided over by Transport Minister Jean Ernest Massena Ngalle Bibehe, representing Prime Minister Dr Chief Joseph Dion Ngute, in the presence of the Minister of Small and Medium-Sized Enterprises, Social Economy and Handicrafts, Achille Bassilekin III, alongside economic operators and technical partners.

Chief Executive Officer of Pro Meet Up, Carole Mbessa Elongo, said the initiative aims to generate concrete projects within the next three months that can be presented to financing institutions.

For her, the region must now move beyond a model in which corridors derive value primarily from the movement of goods.

“Existing corridors have created value through transit, but the challenge now is to shift towards a new generation of corridors that support local transformation of products and raw materials,” Mbessa Elongo said.

She explained that the objective is to develop local industrial processing capable of serving both domestic markets and the wider AfCFTA market of 1.4 billion people.

The emphasis, she added, is now on implementation. “The focus of this edition is concrete action. Within the coming months, we expect to place bankable projects on the table that financial institutions can support to move regional industrialisation to the next stage,” she said.

According to organisers, the forum is expected to identify high-impact logistics and industrial projects, define implementation mechanisms, strengthen public-private collaboration and establish a framework allowing strategic corridors across Central Africa to join the initiative. The discussions also highlighted the role of payment infrastructure in supporting regional trade.

During the event, the integration of the Central African Economic and Monetary Community (CEMAC) and the Bank of Central African States (BEAC) into the Pan-African Payment and Settlement System (PAPSS) was also announced.

PAPSS Chief Executive Officer Mike Ogbalu described payment efficiency as a decisive factor in trade competitiveness, noting that delays and transaction costs directly affect business performance across borders.

“Payment costs and delays reduce the capacity of traders to rotate inventory and complete transactions efficiently. That is why reducing settlement timelines from several days to no more than 120 seconds can significantly multiply both trade volumes and transaction value,” Ogbalu said.

He explained that the system allows transactions to be initiated, processed and settled entirely within Africa, eliminating the need to route payments through external financial hubs.

“By keeping payment flows on the continent, we eliminate unnecessary conversion costs and delays. The immediate priority now is for commercial banks in the CEMAC zone to connect their digital channels so payments can become as seamless as sending an SMS,” he said.

Beyond payment facilitation, participants also discussed the physical and institutional conditions needed to support regional integration. Transport Minister Ngalle Bibehe said the theme of this year’s forum reflects the urgency of developing resilient and competitive corridors capable of supporting sub-regional integration.

He noted that Cameroon has intensified investments in ports, rail infrastructure and the digitalisation of logistics procedures to strengthen connectivity while addressing competitiveness and transport safety challenges.

Roundtable discussions and technical panels focused on corridor governance, industrial financing mechanisms, payment facilitation and the institutional frameworks required to support implementation across Central Africa.

Source: Business in Cameroon

2, June 2026

Cameroon gold scandal: 2,000 billion fcfa lost as 44 tonnes traced abroad ⁰

New disclosures from Cameroon’s National Mining Corporation (Sonamines) have revealed the staggering scale of illegal gold exports, with billions of dollars believed to have escaped state control.

‎According to Sonamines Director General Serge Hervé Boyogueno, 44 tonnes of gold were traced in Dubai as originating from Cameroon between 2021 and 2025. Over the same period, officially declared exports stood at just 148 kilograms.

‎The undeclared volume is estimated to represent a loss of approximately $3.4 billion (over 2,000 billion FCFA) to the state.

‎The gap is even more alarming in recent data. In 2025, Cameroon recorded zero official gold exports, yet external trade figures indicate that at least 8.4 tonnes linked to the country transited through Dubai. In 2024, only a few kilograms were declared locally, compared to more than 12 tonnes recorded abroad.

‎These discrepancies confirm that illicit export channels remain deeply entrenched, with the United Arab Emirates continuing to serve as a major destination for undeclared Cameroonian gold.

‎The latest revelations come months after another gold-related scandal had already raised alarm at the highest level of the state.

‎Earlier this year, President Paul Biya ordered a probe into suspected gold trafficking networks following reports of significant inconsistencies in export data. At the time, Cameroon had declared just 22.3 kilograms of gold exports in 2023, while importing countries reported receiving about 15.2 tonnes.

‎That gap alone was estimated to represent losses of up to 165 billion FCFA, prompting the creation of a commission of inquiry tasked with identifying those involved and clarifying responsibilities.

‎The new figures released by Sonamines suggest the problem is far more extensive than previously thought, pointing to a system where large volumes of gold continue to leave the country outside official channels.

‎With billions in revenue at stake, pressure is mounting on authorities to dismantle the networks behind the trade and restore control over a sector long plagued by weak oversight and informal practices.

Source: Lebledparle.com