Business

9, June 2026

BEAC halts key refinancing facility for productive investments across CEMAC ⁰

The Bank of Central African States (BEAC) has suspended new refinancing operations under a key facility designed to support productive investment across the six-member Central African Economic and Monetary Community (Cemac), according to sources familiar with the matter.

The decision was reportedly made after heated discussions during a meeting of the bank’s Monetary Policy Committee (MPC) in Yaoundé on April 2.

The suspension affects medium-term credit refinancing for investment projects, a mechanism that allows commercial banks to obtain funding from the central bank after extending loans to businesses undertaking qualifying projects. According to a BEAC source, the measure is temporary and is intended to give the institution time to modernize the facility.

“This is a provisional suspension that will allow us to update the operating framework of a mechanism that has been in place for decades. For now, we are no longer accepting new refinancing requests from commercial banks, but we continue to process applications submitted before the suspension took effect,” the source said.

The move follows comments made by BEAC Governor Yvon Sana Bangui during a September 2025 press conference, when he announced plans to reform the facility, formerly known as Window B. At the time, he said the review was intended to adapt the mechanism to current economic realities.

A Tool Designed to Support Investment

The Cemac money market operates through two main channels. The first is the interbank market, where commercial banks lend to one another using liquidity held at the central bank. The second consists of BEAC interventions through two refinancing facilities known as Window A and Window B.

“Window A is the traditional monetary policy channel through which liquidity is injected into or withdrawn from the banking system. Window B is dedicated to refinancing medium-term loans granted for productive investment,” Bangui previously explained.

Under the rules governing the facility, BEAC financing cannot exceed 60% of a project’s total cost.

Refinancing requests of up to CFA20 billion can be approved directly by the governor. Applications above that threshold require approval from the Monetary Policy Committee. National BEAC directors can approve requests of up to CFA4.5 billion per quarter, with a monthly ceiling of CFA1.5 billion.

For years, commercial banks across Cemac made extensive use of Window A while largely ignoring Window B. “In June 2025, we brought together all commercial banks in Bangui and presented the facility. The finding was striking: many banks were simply unaware that the instrument existed,” Bangui revealed following the September 2025 MPC meeting.

That changed after BEAC’s outreach campaign. Cameroonian banks, in particular, began using what the central bank now calls the Special Refinancing Facility. In 2025 alone, BEAC approved refinancing for CFA41.2 billion in loans linked to the Bipindi-Grand Zambi iron ore project in Cameroon and CFA31.3 billion in financing for telecommunications operator Camtel’s investment program.

CCA Bank was also authorized to raise CFA30 billion from the central bank to help finance a mining project in the Republic of Congo. Afriland First Bank sought refinancing support for a CFA20 billion palm oil processing plant project being developed by the Cotton Development Company (Sodecoton).

Given the growing interest from commercial banks, the suspension temporarily removes an important source of funding for both lenders and industrial projects. Until the revised framework is finalized, banks and businesses across Cemac will have one less tool available to finance investments considered critical to the region’s industrial development.

Source: Business in Cameroon

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

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

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

28, May 2026

CPDM Crime Syndicate: Yaoundé losing CFA 162.8bn a year to timber export mispricing ⁰

Cameroon is losing an estimated 162.8 billion CFA francs annually through illicit financial flows linked to timber export mispricing, according to a report released on May 26 by the Financial Transparency Coalition in Financial Secrets of the Forests: How Secrecy Fuels Deforestation in Brazil and Cameroon.

The report found that between 2013 and 2023, illicit financial flows in Cameroon’s timber sector averaged $289 million per year, nearly five times the $59 million annual loss estimated by the National Agency for Financial Investigation. The discrepancy stems from undervaluation of timber exports, where declared export values differ from import records reported by destination countries.

The analysis focused on Cameroon because of its position as Africa’s largest timber exporter. In 2025, the country recorded 105,000 hectares of primary forest loss, the highest on record.

Timber trade losses widen

The report identifies China, Vietnam, European Union countries and the United States among the main destinations where pricing discrepancies were recorded. According to the coalition, the losses represent foregone customs duties, taxes and other public revenues.

Cameroon has tightened forestry export policies in recent years, increasing duties on raw log exports from 17.5% in 2017 to 75% under the 2024 Finance Act, while preparing a ban on exports of 76 wood species from 2028 to encourage local processing. The report says illicit financial flows continue to undermine these efforts by allowing timber products to leave the country at under-declared values.

Matti Kohonen, Executive Director of the Financial Transparency Coalition, said:

“This report shows that billions of dollars are illicitly channelled each year from Global South countries through illegal deforestation and financial secrecy. The lack of public data on land ownership and beneficial ownership makes it difficult to trace who profits directly from forest destruction.”

Transparency gaps complicate enforcement

Researchers said financial and land ownership secrecy prevents authorities from identifying the ultimate beneficiaries of logging concessions.

Using Geographic Information Systems data, the coalition mapped forest concessions and ownership structures but said beneficial ownership information remains inaccessible, complicating enforcement efforts.

Jean Mballa Mballa, Executive Director of CRADEC in Cameroon, said:

“This report confirms that although Cameroon can map forest loss and identify the legal owners of concessions, beneficial ownership records remain closed. Without transparency, efforts to sanction illegal operators and enforce international anti-deforestation regulations will face serious limits.”

The report also states that Cameroon has continued granting logging licences to companies previously sanctioned for illicit trade, allowing some operators to continue exporting to markets that prohibit illegally sourced timber.

Trade rules and market access implications

The findings come as international market requirements tighten ahead of the European Union Deforestation Regulation, due to take effect in December 2026, prohibiting products linked to deforested land from entering EU markets.

Victor Galaz, associate professor at the Stockholm Resilience Centre and contributor to the report, said stronger transparency measures are increasingly tied to market competitiveness.

“Crimes linked to deforestation often thrive in opaque financial systems. Making ownership and concession data more accessible is essential not only for accountability but also for preserving long-term access to export markets.”

The Financial Transparency Coalition is calling for the creation of public beneficial ownership registries, improved access to land ownership records and publication of sanctions data related to environmental offences.

The report warns that unresolved transparency gaps could continue draining billions of francs from public revenues while exposing timber exports to compliance risks in international markets.

Source: Business in Cameroon

26, May 2026

Biya regime tightens gold mining controls to curb smuggling ⁰

Cameroon announced on May 21 new measures to tighten control over artisanal gold mining, targeting illegal operations, gold smuggling and revenue losses in the sector.

The reforms were unveiled during a cabinet meeting chaired by Prime Minister Joseph Dion Ngute in Yaounde. They include a minimum monthly declaration threshold of five kilogrammes of gold for companies seeking exploitation rights and an environmental hazard tax of CFA 63 million for operators working on more than 21 hectares.

The government said the measures are aimed at improving transparency in gold production, increasing state revenues and strengthening oversight of mining activities.

Interim Minister of Mines, Industry and Technological Development Fuh Calistus Gentry said illegal mining had created major discrepancies between officially declared production and volumes traced abroad. He said the reforms would help formalise the sector and improve state control over gold exports.

“Illegality represents the gap between what is declared and what is exported. Once restructuring is accepted, it will generate immediate revenue for the State estimated in several hundreds of billions. We are also projecting a minimum increase of three tonnes in the State’s gold reserves every year,” he said.

The minister added that the reforms would strengthen the role of Cameroonians in artisanal mining, while foreign operators would be limited to technical and financial partnerships as provided by law.

Government figures presented during the meeting showed that nearly 200 illegal semi-mechanised mining sites had been identified in the Adamawa and East regions, compared with only 57 officially authorised gold operations. Authorities said the illegal activities had contributed to gold smuggling and major losses in public revenue.

“If 100 companies align with the declaration threshold, projections already point to 10 tonnes being declared. Many companies are already complying, and tax payments are now being enforced,” Fuh Calistus said.

Officials also said mining operators would face stricter environmental restoration obligations under the “polluter pays” principle. Between 2020 and 2026, the government issued 57 environmental conformity certificates for mining and quarry projects.

On labour issues, Minister of Labour and Social Security Grégoire Owona said more than 1,700 enterprise inspections were carried out during the first quarter of 2026, leading to 188 formal notices against employers found in violation of labour regulations.

“Our role is to protect workers against all forms of abuse. We will intensify inspections, continue sensitisation campaigns on workers’ rights and finalise reforms to the Labour Code to strengthen protection mechanisms,” he said.

At the end of the meeting, Prime Minister Joseph Dion Ngute instructed ministries to strengthen coordination and ensure strict enforcement of the new measures, particularly on illegal mining, environmental compliance and labour protection.

Source: Business in Cameroon

22, May 2026

CDC posts 24.9 billion CFA turnover in 2025 despite Ambazonia disruptions ⁰

The Cameroon Development Corporation (CDC) posted a turnover of 24.93 billion CFA francs in 2025, maintaining production and commercial activities despite persistent disruptions affecting several estates and industrial units.

Audited financial statements approved by the CDC Board of Directors during its Accounts Session held on May 6, 2026, in Yaoundé showed total assets of 102.81 billion CFA francs and shareholders’ equity of 3.2 billion CFA francs. The accounts, audited by Forvis Mazars Cameroon, were presented by General Manager Franklin Ngoni Njie during a session chaired by Board Chairman Ngoran Genesis Bime. Board members reviewed the corporation’s financial position and operational performance for the year ended December 31, 2025.

According to the statutory auditor’s report, several CDC estates and industrial units remained either fully or partially inactive in 2025 because of the socio-political crisis affecting parts of Cameroon’s South-West and North-West regions.

Assets linked to affected estates and projects had a net book value of 10.48 billion CFA francs at the close of the financial year. The sites identified in the report included the Malende, Mukonje, Mbonge and Meanja rubber estates, as well as the Manyu Project, the Mukonje Industrial Unit and the Iloani Industrial Unit.

The audit report said CDC did not fully meet its agricultural production targets because of reduced field operations and insufficient agricultural inputs. It added that lockdowns linked to the back-to-school period and pre-election tensions resulted in the loss of two months of the rubber peak season. Security incidents in production areas, including attacks targeting field staff in Ekona and Sonne/Likomba, also disrupted operations and affected crop performance during the year.

The financial statements further showed that 51% of mature rubber plantations and 36% of mature palm plantations remained unexploited because of insecurity affecting some estates.

Auditors flag inventory and control weaknesses

Forvis Mazars also identified several operational and financial control weaknesses, particularly in stock management, inventory procedures and accounting systems.

According to the audit report, some industrial units continued recording production data manually on paper without electronic backup systems, exposing the corporation to risks related to data security, completeness and accuracy.

At the Idenau Industrial Unit, auditors observed that dipping operations were conducted without thermometers, with temperatures estimated during production processes. The audit also identified discrepancies between recorded stock levels and physical inventory counts, notably within the Technical Service Department and the Mondoni Industrial Unit.

Some storage facilities were described as poorly organised, while expired agricultural products, including fertilisers, remained recorded and valued as active stock. Auditors further noted that stock movements continued during inventory exercises because no stock-freezing procedures had been implemented during the counting process.

The report added that some estates still relied on manual stock management systems, while others operated software applications such as SYBEL. Auditors noted that CDC had finalized arrangements for the acquisition and installation of an Enterprise Resource Planning (ERP) system aimed at improving stock reporting and operational controls.

Banking and sales monitoring gaps persist

The statutory auditor also highlighted unresolved bank reconciliation items dating back to 2020, including old cheques still held by the corporation despite being recorded as payments to third parties.

A review of palm product sales invoices revealed double-counted invoices, missing receipt numbers and gaps in invoice sequencing. Auditors also pointed to the absence of documented reconciliation controls between harvest volumes recorded at farms and quantities received at factories.

The report further stated that updates on litigation cases were not consistently transmitted from the legal department to finance and accounting teams, potentially affecting the treatment of legal provisions.

The Board of Directors expressed satisfaction with the financial statements presented by management and encouraged efforts aimed at improving performance and achieving budget objectives in 2026, despite the operational difficulties recorded in 2025.

Source: Business in Cameroon

20, May 2026

Cameroon public debt up 6%, remains below regional threshold ⁰

Cameroon’s public debt stood at 15,416 billion CFA francs ($27.3 billion) as of March 31, up 6% year-on-year, according to data published on Friday by the Caisse autonome d’amortissement (CAA), the country’s public debt management agency.

Despite the increase, the debt burden remained manageable at 44.3% of gross domestic product. The ratio aligns with the targets set out in the Medium-Term Debt Strategy (SDMT) 2025-2027, which caps public debt at 50% of GDP, below the regional threshold of 70%.

The CAA said the ratio reflected “prudent” debt management. According to the agency, the increase in public debt mainly reflected financing needs linked to infrastructure projects and other state investments. Central government accounted for 93.6% of the total debt stock, up from 93.3% as of Sept. 30, 2025.

Cameroon continues to face significant financing needs. The 2026 budget was set at 8,816.4 billion CFA francs, up 14% from the previous fiscal year.

To meet those needs, the government is expected to continue borrowing, particularly on external markets, which are projected to provide more than 67% of financing in 2026. Financing requirements for 2026-2028 are estimated at 7,689 billion CFA francs, including 3,197 billion in 2026 alone, equivalent to roughly 8.8% of GDP.

The government is also considering a Eurobond issuance to finance major infrastructure projects. Despite the borrowing outlook, authorities said public debt should remain sustainable, although the risk of debt distress remains high. Against that backdrop, the International Monetary Fund projects economic growth of 3.3% in 2026, supported by higher public investment.

Source: ecofinagency