11, September 2024
Beti Assomo discusses cooperation with South Korea defense chief 0
South Korea Defense Minister Kim Yong-hyun held bilateral talks with his counterpart from Cameroon on Wednesday to discuss the security situation, and ways to broaden defense and arms industry cooperation, his office said.
In what marked the first defense ministerial meeting between Korea and Cameroon since the establishment of diplomatic ties in 1961, Kim and his counterpart, Joseph Beti Assomo, agreed to seek cooperation in the defense and arms sectors, including in the state communications network business of Cameroon, according to the South’s defense ministry.
The meeting came on the sidelines of the annual Seoul Defense Dialogue that kicked off its two-day run earlier in the day. Some 900 security officials and experts around the world joined the forum for discussions on regional and global security issues and challenges.
Source: Korea Times



















12, September 2024
BEAC cuts liquidity injection to banks to CFA 200bn 0
The Central Bank of Central African States (BEAC) announced yesterday a new liquidity injection for banks, amounting to CFA200 billion. This comes just a week after a similar operation for CFA250 billion, which saw a subscription rate of almost 170%. Banks had expressed a total demand of CFA423 billion.
After gradually increasing the weekly liquidity offer from CFA50 billion in June 2024, when liquidity injections into the banking sector resumed, to CFA250 billion in August 2024 BEAC has now reduced its offer. However, recent refinancing operations show that banks in the CEMAC region are in significant need of liquidity. In recent months, demand has consistently exceeded supply.
This cautious approach by the central bank is aimed at balancing the fight against inflation with the need for economic growth. BEAC continues to tighten its refinancing policy to curb inflation, despite signs that inflation has eased in the CEMAC region over the past few months. BEAC notes that economic growth, which depends on financing the economy, is projected at 3.6% in 2024 the highest level in a decade.
Source: Business in Cameroon