26, January 2026
CPDM Crime Syndicate: Coach Sacked by Eto’o receives salary, AFCON bonus 0
Drama continues to be witnessed in Cameroon as Belgian coach is reportedly still being paid and even received an AFCON bonus when he was removed before the tournament kicked off.
The power struggle within Cameroon football continues after it emerged that Belgian coach Marc Brys is still getting paid even after he was removed just before the 2025 Africa Cup of Nations.
Brys was removed by the Samuel Eto’o-led FECAFOOT, the country’s football federation, on the eve of AFCON 2025 with David Pagou installed ahead of the tournament.
Pagou led the Indomitable Lions at AFCON 2025, reaching the quarter-final, where they were eliminated by hosts Morocco.
Cameroon Football Federation Raises Concerns Over CAF Disciplinary Procedures Involving Samuel Eto’o
However, according to Sport News Africa, Pagou’s appointment did not have the approval of the Sports Ministry, who hires and pays the national team coach, and as such, he is yet to be paid for his duties.
Meanwhile, Brys, who was hired by the Ministry but was rejected by FECAFOOT, is still getting paid and is reported to have even received an AFCON bonus despite not leading the team at the tournament.
How Much Was ‘Sacked’ Coach Paid?
This is because his contract was not terminated by the appointing authority (Sports Ministry) who still consider him the national team coach.
“The state never officially terminated Mr Brys’s contract,” a source told Sport News Africa. “Whether we like it or not, the administration cannot unilaterally suspend a contract without a legal basis.”
Brys was reportedly paid a bonus of 20 million CFA francs, or approximately €30,500 (Ksh4.6 million) in relation to Cameroon’s performance at AFCON, based on the contractual agreement signed when he was hired, while he is earning a monthly salary believed to be between €44,000 (Ksh6.6 million) and €60,000 (Ksh9 million), which includes dues to his assistant and video analyst.
The Belgian coach has repeatedly maintained that he still considers himself the Cameroon coach as he has never been formally terminated while Eto’o has never recognised him.
With the drama, Pagou is left in between as the Sports Ministry has allegedly refused to pay him as they do not recognise him while Eto’o insists it’s the government’s duty to pay the national team coach.
Source: Pulsesports



















27, January 2026
Dollar Bonds: The biggest risk is what Cameroon looks like post Biya 0
Cameroon became the second African nation in less than a week to sell dollar bonds, as frontier markets take advantage of risk-on sentiment to raise funds.
The central African nation priced a $750 million five-year bond at a yield of 10.125%, according to a person familiar with the matter. That compares with a yield of 10.75% on a seven-year dollar note it issued in 2024, when the country last went to market.
Cameroon is rated B-, six levels into junk, by S&P Global Ratings — the same as Nigeria, Pakistan and Angola.
Emerging markets are benefiting from investors shunning the US as geopolitical tensions rise and the independence of the Federal Reserve remains a concern. Risk premia of African frontier markets from Mozambique to Gabon have narrowed to levels below 1,000 basis points over US Treasuries in recent days, prompting nations on the continent and elsewhere to raise foreign-currency-denominated debt.
With conditions having shifted since the last time it came to market, Cameroon should have been in a “position to issue in the single digits,” according to Leo Morawiecki, an emerging-markets analyst at Abrdn Investments in London.
“The biggest risk is what Cameroon looks like post Biya,” he said in reference to the nation’s 92-year-old leader Paul Biya, who won an eighth term in October. “And its very difficult to price that into the bonds as getting a grip on Cameroonian politics is extremely difficult.”
The nation’s $550 million dollar bond due 2031 added 0.27 cents on the dollar Tuesday to 100.80 cents, pushing the yield lower by 6 basis points to 9.31%.
Benin last week sold a $500 million seven-year note at a yield of about 6.2% and an inaugural dollar-denominated sukuk. Ecuador sold $4 billion of bonds on Monday, its largest-ever issuance, in a return to global credit markets after restructuring its debt in 2020. The Democratic Republic of Congo plans a debut $750 million offering in April, the country’s finance minister told Bloomberg last week.
Seasoned eurobond issuers in Africa, such as Ivory Coast and Benin, are unlikely to care that other countries are coming to market given their years of experience, Morawiecki said. “But it likely does have a bigger impact on inaugural issuers such as DRC that look for signs of investor confidence in Africa.”
The continent’s average sovereign-risk premium over US Treasuries fell to the lowest since 2018 this month, and stood at 326 basis points on a closing basis on Monday, according to a a JPMorgan Chase & Co. index.
Source: Bloomberg