Business

2, November 2017

French Cameroun: Douala to host CEMAC regional stock exchange ⁰

During a forum that was boycotted by the Heads of State of Gabon and Congo-Brazaville recently in Chad, the CEMAC zone leaders decided that Douala, the economic metropolis of Cameroon will now host the headquarters of the regional stock exchange of the Central African Economic and Monetary Community (CEMAC).

This is one of the main decisions taken by the heads of state of the subregion, gathered at N’Djamena in Chad at the recent extraordinary summit of CEMAC.

“Considering the issue of the merger of regional and national value exchanges, the conference decided to set the headquarters of the regional financial market regulator in Libreville and that of the regional stock exchange in douala,” read the final statement.

The Conference of Heads of State designated the Bank of Central African States (BEAC) as Central Depository.

In addition, the heads of state decided to unlock 1.7 billion CFA francs. This money will finance a police force to monitor the borders follwoing the lifting of all border checks for all citizens of the 6 countries.

By Chi Prudence Asong, CCN

30, October 2017

Enerray to develop 30MW PV project in Cameroon ⁰

Enerray, though the company EB Solaire, is developing a 30MW PV project in Cameroon, with Enerray set to serve as EPC provider for the plant.

The first permitting steps for the solar plant have already been completed and carried out, with authorities already validating the 70-hectare site where the project will be developed. The installation will be developed in Northern Cameroon, close to the Garoua International Airport.

Once completed, the 30MW project will be connected to the electrical grid, with the installation responsible for providing energy to portions of the country without any access to electricity, along with regions that are prone to blackouts.

Source: PV-Tech

28, October 2017

Ban on General Express Agency: French Cameroun doing their thing ⁰

The General Express travelling agency suspended for three months is now attempting to change its name.The intercity travel agency was suspended by the Minister of Transport, Edgar Alain Mebe Ngo’o, following a traffic accident on the 23^rd of October 2017 on the Yaoundé-Douala Highway that claimed the lives of 15 people and injured several others.

Barely some few days after the decision to ban the company was made public, images have emerged from the Douala bureau of two workers, one of whom is on a General Express bus, posting a new inscription “Defotso”.

Observers have concluded that the management of General Express have decided to rename their agency- a common practice among travel agencies suspended by the Francophone dominated government.

By Sonne Peter with files from Cameroon Info.Net

23, October 2017

Cameroon: Dangote cement sold 938 kt, indicating an increase of 16.4 ⁰

Latest performance figures show that Dangote Cement continues to maintain its large share of Nigeria’s domestic cement market, accounting for 65 percent of the Nigerian market volume, while other African plants’ volumes went up by 7.5 percent to 7.0 mta.

These results are coming as the company’s board announced changes to the leadership of the company, with Onne Van der Weijde stepping down as Chief Executive Officer at the end of 2017, having completed three years in this position.

He would be returning to his home country, The Netherlands. Van der Weijde will be appointed as a Non-Executive Director of Dangote Cement PLC, with effect from 1st January 2018.

In the meantime, Engr. Joseph Makoju, Honorary Adviser to the Chairman and former MD of WAPCO/Lafarge, will be acting MD/CEO of Dangote Cement PLC. The Cement company which had in the past months expanded its operations across Africa, the latest being the coming on stream of the 1.5 mta integrated cement plant in Mfila, Republic of Congo, posted some growth figures.

According to the unaudited results for the nine months ended September 30, 2017, the Mfila plant which began operations last month has almost doubled the size of the cement sector in the country. The Congo plant brings to 10 the number of Dangote Cement plants across Africa.

Further analysis of the results indicated that the company recorded strong volumes in Senegal, Ethiopia and Cameroon. In the nine months under review, the 1.5 mta clinker grinding facility in Douala, Cameroon sold approximately 938 kt of cement, indicating an increase of 16.4 percent on the 806 kt sold during the same period in 2016.

Dangote Cement Ethiopia increased sales by 16.8 percent to nearly 1.7 mta in the first nine months of 2017 representing capacity utilization of approximately 88 percent. The cement plant in Pout, Senegal sold 1.0 mta of cement in the period under review, up by 21.7 percent on the comparable period of 2016. This represents almost 89 percent capacity utilization at the factory.

Van der Weijde, speaking on the results, said, “Our Pan-African operations are performing strongly with excellent sales growth in Cameroon, Ethiopia and Senegal. We are consolidating our success across Africa and have just commissioned our 1.5Mta factory in Congo, the tenth country in which we have established operations.”

“In our key operations in Nigeria we have significantly improved our fuel mix and this has helped increase margins across the Group. It is especially good for Nigeria because most of the coal we are using is mined in our own country”.

Source: Ripples Nigeria

11, October 2017

Oil and Gas: Tower prepares for 2018 drilling in Cameroon ⁰

Tower Resources plc (the “Company” or “Tower” (TRP.L, TRP LN)), the AIM-listed oil and gas company with a focus on Africa, is pleased to provide an update on the status of the Thali block in Cameroon.

Following a Technical Committee Meeting and Operating Committee Meeting between Tower, the Cameroon Ministry of Mines, Industry & Technological Development (“MINMIDT”) and the Société Nationale des Hydrocarbures (“SNH”) held in Douala on 3 October 2017, Tower, MINMIDT and SNH have agreed on the following next steps in support of the PSC work commitments:

To conduct reprocessing of the existing 3D seismic data and conduct specific specialist studies such as attribute analysis, including AVO and pore pressure prediction, and coherency cubes on that data;
To continue with the geological and geophysical interpretations, using that reprocessed data, to refine and high-grade the prospect inventory on the Thali PSC block, to mature the drillable prospects;
To investigate rig availability with appropriate technical specifications; and
Based on this work, Tower aims to provide SNH with a prospect inventory and prioritisation during Q2 2018, and will agree with SNH a location for the first new well on the block.

In respect of acquisition of new seismic data on the block, Tower, will continue to search for a suitable seismic contractor; it being understood that the actual acquisition of new data may need to be deferred.

The budget for the planned work activities for 2017 and 2018 has been agreed. Tower, SNH and MINMIDT have agreed to meet in six months to evaluate the progress of the operations. Based on this progress the parties may contemplate an eventual extension of the initial period of the Exploration Phase to allow the fulfilment of all contractual obligations for the period.

Jeremy Asher, Chairman & CEO, commented:

“We are very pleased to have confirmed our next steps on the Thali license, including the reprocessing of existing 3D data, with a view to finalising priorities for drilling in 2018. We are also grateful to SNH and MINMIDT for their flexibility and support. By deferring the acquisition of new 3D data in favour of reprocessing existing 3D data we can save time and money in the near term, and move faster towards sourcing a rig in the currently depressed rig market. This not only accelerates our progress towards a well, but also makes the cost of our work programme over the coming year much more affordable, even taking into consideration the last portion of the signature bonus which is now falling due. With contingent Oil-In-Place estimated at 39 million barrels (Pmean, gross) already discovered on the block, we are keen to take advantage of the low cost of rigs in the current market and to begin drilling to reach a commercial scale for development of this high-quality near-field block as soon as possible.”

Source: Oil and Gas News

4, October 2017

Buea Province blockade is tearing apart business communities ⁰

The Francophone governor of the Buea Province of Southern Cameroons, Bernard Okalia Bilai, signed a second order yesterday in connection with the Southern Camerons crisis. This so-called decree prohibits “all entry and exit” in the Region. Beyond the fact that this part of Ambazonia is thus cut off from the entire Southern Cameroons and neigbouring La Republique du Cameroun , the Buea Province still has a strong military presence with French Cameroun soldiers parading the streets.

On Monday, October 2, 2017 in the early hours, elements of the police and the gendarmerie, those of the army and the Rapid Intervention Battalion (BIR) were already posted in the streets and main round abouts. Identity checks have also been erected and in a systematic way that all those who are not in possession of their national identity cards (CNI) are questioned.

As of September 28, 2017, in order to maintain French Cameroun dominance of the territory in his command, the Governor signed a first order that prohibited any movement in the Region. This order was to stifle the October 1 celebrations that were held successfully throughout Southern Cameroons.

Two days after October 1, the signs of the Southern Cameroons independence day celebrations remain very visible. In Molyko- Buea, for example, one can still see enormous rocks and piles of shards of bottles lying on the roadway.

By Rita Akana, CCN

25, September 2017

Ecobank Xpress Cash: How an ambitious innovation wants to revolutionise banking in Cameroon ⁰

“Ecobank Xpress Cash” is the new money withdrawal option put in place by Ecobank. With this operation, customers of the Pan-African bank can now make withdrawals without a card. According to Ecobank, the option is a question of boosting through digital channels financial inclusion, currently estimated in the country to 20%, out of a population of more than 20 million people.

“The digital strategy in question directly favors one of the main factors of development of our economies, namely the financial and economic inclusion of the populations. Ecobank will thus be able to reach and serve more customers in Cameroon, including those who are unbanked, “the bank said.

It is vital to include in this report that in May 2017 Ecobank indicated its intention to capitalize on digital services. The bank launched “Ecobank Mobile App”, that helped individuals and companies to use bar codes for payments and banking partnership with third parties. With “Ecobank Xpress Cash”, the Pan-African bank is the only one among the fifteen commercial banks to offer this type of service in Cameroon.

By Soter Tarh Agbaw-Ebai with files from CIN

20, September 2017

Vodafone suspends internet connectivity in Cameroon ⁰

Following a directive issued by the Cameroon’s Telecommunications Regulatory Agency, Vodafone Cameroon has confirmed it has suspended its internet services in the country until further notice. Vodafone Cameroon is operated by Afrimax under a non-equity partner market agreement with Vodafone Group. Authorities in Cameroon are making moves to compel Vodafone to apply for its own license.

Since it began operations in 2016, Vodafone had been using the license issued to Northwave SARL which was subsequently acquired by Afrimax Group to create Vodafone Cameroon. This arrangement, according to authorities, is illegal.

Minette Libom Li Likeng, Cameroon’s Minister of Posts and Telecommunications said he directed the Telecommunications Regulatory Agency (ART) to withdraw the operating license issued to Northwave SARL, thus compelling Vodafone to apply for its own license – since the operator would not be allowed to operate until it secures a license from the government.

Likeng said the government has applied the law governing the establishment and operation of networks and supplies of electronic communication services authorisation system in Cameroon. Under the law, licenses are personal, non-transferable and do not confer any right of exclusivity. With this condition, Likeng said Northwave SARL’s operating license cannot be transferred to Vodafone Cameroon.

Likeng said, “I’ve had discussions with Vodafone Cameroon officials in recent months, and I’ve told them that they have to apply for a license in good form and will have to pay to provide 4G LTE to the population.”

Going forward, he confirmed that his ministry directed the company to suspend its plan to expand its operations to eight additional cities, adding that if allowed to continue to operate, Vodafone would not be competing fairly with other players who paid US$136 million (CFA75 billion) each for operating license.

Antoine Pamboro, CEO Vodafone Cameroon, in a statement apologised to customers and said the company is working hard to restore services as soon as possible.

“To date, Vodafone Cameroon has contributed 3 billion CFA to the State of Cameroon, including 2 billion CFA in taxes and duties and 1 billion CFA for regulatory fees. Vodafone Cameroon has 116 employees and indirectly created 1,055 jobs with more than half of the workforce composed of young graduates,” Pamboro stated.

Prior to the latest development, Vodafone was expanding its 4G LTE services across the country, starting with 8 regions following a partnership with CAMTEL. Richard Achu, Vodafone Cameroon’s Sales and Distribution Director, said the company will not renege on its vision to extend its operations across the country.

“Vodafone Cameroon will enable anyone with a 4G compatible equipment to benefit from the best 4G LTE network as it is already the case in Douala and Yaounde. We want to extend our 4G LTE ultra-fast network in the ten regions of the country before the end of the year. We will do our utmost best to achieve this,” Achu said.

Source: ITwebafrica

30, August 2017

“Body blow” for Bamenda County as Government Delegate closes shops ⁰

The Francophone surrogate, Vincent Ndumu Nji has carried out his threats in the Bamenda County by closing shops at the Nkwen market . The corrupt so-called government delegate was quoted by a French newspaper as saying that “The fact that their shops have been sealed is an unexpected setback. The message from the government delegate was not seen as an injunction. So, these traders find themselves caught between two fires. ”

On Monday, August 28, 2017, traders in the Bamenda County in Southern Cameroons kept their shops closed, despite the opening of the main gates by council workers. The merchants respected the calls for the on going civil disobedience campaign in Southern Cameroons and stayed at home.

Cameroon Concord News gathered that the said Ndumu Vincent is now asking the traders to pay the sum of five hundred thousands francs CFA for the council to reopen their shops. One of the traders contacted by CAMCORDNEWS at Nkwen observed that half a million CFA is far above the value of his business center and that the Biya regime is greatly energising the Southern Cameroons revolution and depriving itself from revenue that it badly needs from the Southern Cameroons business community.

Since Tuesday, 29 August, messages of indignation were circulated on social networks. Both sides questioned the attitude to be adopted. For, on the one hand, the ghost towns have been intensified and on the other, the French Cameroun administrative authorities are asking Southern Cameroonians not to respect the Southern Cameroons Governing Council and the Cameroon Anglophone Civil Society Consortium by promising security guarantees.

It should be remembered that at the beginning of the revolution, some traders had attempted to ignore the instructions given by the Consortium which required the closure of all shops. Considered as offenders, these traders were ruthlessly crushed and severely dealt with.

By Eyong Johnson
Cameroon Concord News

22, August 2017

French Cameroun: MINPOSTEL launches new system to enhance healthy competition ⁰

The Ministry of Post and Telecommunications in French Cameroun has launched a communication campaign on telephone number portability. Telephone number portability is a system which enables telephone users to switch from one mobile operator to another while maintaining the same phone number.

The Francophone female minister noted that during a month long campaign, the public will be sensitized on how to take advantage of the new system which provides consumers the option to choose the service provider with the best options. This implies that if the consumer changes his service provider, the new service provider needs to incorporate the former number into the new sim card he offers.

The Ministry of Post and Telecommunication affirms that the service is free. It was also revealed that the operation is possible just twice a year and only within a space of at least two months after the first switch.

Apart from helping the consumer maintain the same number, number portability also enables the consumer benefit from advantageous tariffs offered by competing mobile operators. In a nutshell, number portability enhances healthy competition amongst the telephone service providers in Cameroon.

Source: CRTV