22, March 2019
Voodoo Economics: Biya regime aims for a CFA 60 billion Ecobank loan to fund its 3-year Emergency Plan 0
Cameroonian President Paul Biya inked March 19, 2019 a decree authorizing the finance minister to conclude with Ecoank Cameroon a XAF25 to 60 billion loan agreement.
Monies will partially fund the 3-year Growth Acceleration Emergency Plan (Planut), adopted by the government in December 2014. The plan requires a capital of XAF925 billion.
Focus sectors include agriculture (seed distribution and opening of agricultural roads), health (improving technical capacities of certain hospitals), real estate (construction of 1000 social housing units across the country) and road infrastructure. Overall, 35,000 jobs are expected to be created under the scheme.
Planut is co-financed by five banks including the Cameroonian subsidiaries of BGFI, Standard Chartered Bank, Banque Atlantique, Ecobank and Deutsche Bank of Madrid.
Source: Business in Cameroon























22, March 2019
Yaounde: Civil servant’s salaries to delay up to—— 0
March salaries for majority of civil servants may not be paid, Ministry of Finance sources have revealed. Cameroon Concord News gathered that teachers, officers under military, police and the intelligence will all be affected.
The Biya Francophone regime has cited technical failure in an engine room serving the National Center for the Development of Informatics which hosts the computer system managing all public servants data.
Medics and other health workers including officers employed under the numerous ministries created by the Cameroonian dictator will also face one of the longest salary delays to hit the civil service in recent times in the CEMAC region.
Our senior business affairs correspondent in Yaoundé hinted that the ruling CPDM crime syndicate is confronting some difficulties in managing its Payroll Management and Establishment Control system.
Cameroon Intelligence Report sources however said the Beti Ewondo regime has failed to raise sufficient revenue to fund salaries mainly due to depressed economic activities in January and February and the crisis in Southern Cameroons.
As anticipated, the delay to settle civil servant salaries is already breeding ground for corruption. The situation is becoming desperate and civil servants are in the dark about what is happening to their salaries.
“Delays in paying salaries have often offer an incentive to Cameroonian civil servants to engage in corruption and if the current situation does not change, we will see a lot of corruption cases involving government workers” noted a baron of the Biya administration.
By Sama Ernest and Rita Akana in Yaounde