28, November 2023

Biya Regime New Bond: Investors hold steady despite slow start in trading ⁰

During its second trading day on November 24, 2023, 24 hours after being listed on the Central African Securities Exchange (Bvmac), the Cameroon government’s multi-tranche bond for 2023-2031 recorded no transactions.

According to the official market bulletin published by the Cemac Unified Financial Market, various investors expressed interest in acquiring 700 of these bonds during the trading session.

However, the bondholders refrained from selling them. This cautious reaction from Cameroon’s bondholders, according to market observers, may stem from the purchase price (CFA10,000), which currently does not yield any profit for the holder compared to its initial value. The refusal to sell the bond, despite the relatively modest demand (only 700 bonds out of 17.6 million), reflects a certain confidence in the bond, which has just begun trading on the Bvmac and could potentially increase in value over subsequent trading days.

On the first trading day (November 23, 2023), the bondholders used the same approach. In that inaugural session, as revealed by the Bvmac’s official bulletin, 892 bonds were traded out of a demand for 1,592. A reliable source indicates that this trading volume is more related to the commitment of brokerage firms to contribute to the excitement of the very first listing rather than a genuine desire to sell the securities involved.

During the trading sessions on November 23 and 24, 2023, all the purchase offers for bonds that were made and subsequently refused by bondholders concerned longer maturity values (7 years). This is further proof that despite the long maturity period, holders of this category of securities remain confident in the stock’s upward trend in the market.

First time in the Cemac Region

As a reminder, the 2023-2031 bond issuance is the 7th such operation successfully carried out by Cameroon on the sub-regional financial market and the first with multiple tranches experienced in the Cemac zone. Cameroon embarked on this experiment due to increasingly challenging market conditions, with high interest rates resulting from the tightening of monetary policy by the central bank.

This type of operation allows investors the flexibility to subscribe to longer maturities at higher interest rates or shorter maturities at lower interest rates. This flexibility offered to subscribers undoubtedly contributed to the success achieved by Cameroon in this operation, during which the government was able to raise more than the targeted CFA150 billion.

Investors holding these Cameroonian bonds, who do not wish to hold them until maturity, can now sell them on the financial market for cash. Transactions may result in a capital gain or discount, depending on the interest investors show (demand) in the market during trading sessions.

Source: Business in Cameroon

28, November 2023

8 killed in Bafoussam-Foumban highway accident ⁰

At least eight people were killed and several others injured in a road accident in Cameroon’s West region on Tuesday, local police and authorities said.

A speeding passenger bus lost control and collided with an oncoming truck along the Bafoussam-Foumban highway, killing eight people at the scene, the local police said.

State media Cameroon Tribune reported that those injured were rushed to a local hospital for treatment. Police have launched an investigation to establish the cause of the incident.

According to the police, fatal accidents are common in Cameroon due to reckless driving, dangerous overtaking, drunk driving, and poor state of the road.

The Ministry of Transport estimates that 1,500 people die in road accidents each year in the Central African nation.

Source: Xinhuanet

28, November 2023

Yaoundé failed to achieve goals in Southern Cameroons war: Amba official ⁰

The Ambazonia Interim Government says Southern Cameroons Restoration Forces and its ground zero commanders are in good condition and are preparing a major onslaught against troops of the Francophone dominated military.

The Vice President of the Interim Government Dabney Yerima in a press statement released on Monday stressed that the occupying French Cameroun regime has for the past seven years been unable to achieve any of its goals.

Vice President Yerima said a huge number of fighters and leaders of the Southern Cameroons Self Defense Force have been martyred in the war to defend the Ambazonian homeland but the people of Southern Cameroons will resist till the last man standing.

“The French Cameroun enemy has been unable to achieve any of its goals and despite slaughtering thousands of innocent Southern Cameroonians, the Federal Republic of Ambazonia is still standing tall and its citizens far better off than those in La Republique du Cameroun” he added.

The senior Southern Cameroons official further expressed hope that the war in Ground Zero would not prolong, emphasizing that Southern Cameroonians should prepare themselves for a long-term war after Biya.

Dabney Yerima went on to say in the statement that although the humanitarian situation in Southern Cameroons is painful, it cannot hinder the resistance from continuing.

“After the war of liberation, the governance of Southern Cameroons will not reflect the interests of France and the French Cameroun enemy anymore,” Yerima concluded.

By Toto Roland Motuba

28, November 2023

Armed groups carry out major attack in Burkina Faso ⁰

Armed groups carried out a major attack against an army detachment in the northern Burkina Faso town of Djibo, security sources told AFP on Tuesday.

The detachment in the Sahel region was the target of a “large-scale jihadist attack perpetrated by armed terrorist groups” on Sunday, a security source told AFP, adding that the army imposed “heavy losses” on the attackers, and some soldiers were killed.

Source: AFP

27, November 2023

Limbe: Ambazonia Interim Gov’t threatens violence against Jay Jay Okocha, Amokachi over Eto’o tournament invitation ⁰

A separatist group known as the Restoration Fighters of the Ambazonia Interim Government has issued a grave warning to prominent Nigerian football figures, including former national captain Austin Jay Jay Okocha and Daniel Amokachi. The threat comes in response to an invitation extended by Samuel Eto’o, the President of the Cameroonian Football Association, inviting international football stars to a ceremonial tournament in Victoria City, Cameroon, on November 30, 2023.

The separatist group, advocating for the independence of Southern Cameroons, voiced their opposition to the tournament, describing it as a mockery of the Ambazonian people. The Interim Government emphasized that participation in the event would jeopardize the safety of the invited football stars.

The group has declared a total lockdown on Victoria City and entire Fako County on the specified date, warning residents to stay indoors under the threat of death for non-compliance. The message underscores the severity of the situation, cautioning against actions that might be misconstrued as aligning with any form of propaganda.

Expressing deep concerns about the timing and location of the tournament, the separatists question Samuel Eto’o’s decision to organize the event in Victoria, a territory marked by conflict for over seven years. The group raises legitimate fears about potential exploitation of the situation, urging Nigerian football icons to reconsider their involvement to prevent unintended bloodshed. This controversy adds a layer of complexity to the already strained relations between Cameroon and Ambazonian separatists.

Source: Nigerian Bulletin

27, November 2023

Bamenda: Attack on Nigerian actor leaves 5 dead ⁰

At least five people were killed and several others injured in a shooting just before midnight Saturday at a bar in Bamenda, the chief city in the North West region local and security sources said on Sunday.

Nigerian actor Sylvester Madu who is in Cameroon to shoot a movie was the target of the attack that took place in Bamenda.

“Madu was having a drink with other crew members when they (gunmen) arrived and attempted to kidnap him. Security forces were alerted and there was shootout that resulted in the deaths,” a security source in the region said.

The government has blamed separatist fighters who regularly operate in the town for the killings. Some of those who were injured in the raid were rushed to the hospital to receive treatment.

Cameroon’s English-speaking Northwest and Southwest regions have been experiencing a separatist insurgency since 2017. Separatists want to create an independent nation in the regions.

Source: Xinhuanet

25, November 2023

Ukraine war: Kyiv hit by biggest Russian drone attack since war began ⁰

Russia has launched its biggest drone attack on Kyiv since its full-scale invasion of Ukraine began last year, the city’s mayor has said.

Residents were woken by explosions before dawn on Saturday, and for more than six hours, the booms of Kyiv’s air defences echoed through the city.

There was wave after wave of attacks from the north and east.

Officials said more than 75 Iranian-made Shahed drones were fired at the capital – all but one were shot down.

With Russia’s dwindling missile stocks, Shahed drones are seen as a cheap alternative. They are slower than ballistic missiles and have a distinctive wingspan.

It was a night where the whines of their engines blended with the booms of the city’s air defences.

As ever, even if a missile or drone is intercepted, the falling debris can be lethal too.

There have been no reported deaths from this attack, but at least five people were injured, including an 11-year-old child, Kyiv’s mayor Vitaliy Klitschko said.

A kindergarten was among the buildings damaged.

Source: BBC

25, November 2023

Influx of Southern Cameroons refugees in Nigeria linked to Ambazonia crisis ⁰

The comptroller of the Taraba State Command of the Nigeria Immigration Service (NIS), Halid Usman Kwa, has asserted that the upsurge in the number of refugees in Taraba State is a direct consequence of the ongoing crisis in the Ambazonian region of neighbouring Cameroon.

During a meeting with Rev. Fr. Anthony Bature, the founder of the Foundation for Peace, Hope, and Conflict Management (FPHCM), Kwa highlighted the social challenges arising from the presence of these refugees in host communities.

According to him: “The influx of refugees in Taraba is due to the Ambazonian crisis in neighbouring Cameroon, specifically in Sardauna, Takum, and Kurmi. The presence of these refugees has reportedly led to social challenges in their host communities.”

Expressing the commitment of the Nigeria Immigration Service (NIS) to address the complex issues surrounding migration and the well-being of displaced populations in Taraba State, Kwa emphasised the necessity for collaboration with the Foundation for Peace, Hope, and Conflict Management.

The comptroller shed light on the intricate nature of migration, citing factors such as economic prosperity, safety, conflicts, and natural disasters as major contributors. He underscored the importance of a coordinated effort to navigate these challenges.

Rev. Fr. Anthony Bature echoed the foundation’s dedication to ensuring the safety of migrants and explored avenues for civil society organisations to positively impact the lives of the vulnerable population.

Calling for a robust partnership between FPHCM, NIS, and the government, Bature emphasised the need to address the multifaceted challenges faced by migrants.

Source: Daily Post

25, November 2023

Diocese of Buea: There are reasons why Retired Bishop Bushu and his acolytes should be on a “permanent sabbatical” ⁰

Members of the Clergy of Cameroon’s Catholic Diocese of Buea are supporting their Local Ordinary, Bishop Michael Miabesue Bibi, who is facing social media attacks, which the Clergy dismiss as an unfortunate “smear campaign”.

In a statement issued, Wednesday, November 22, members of the Clergy of Buea Diocese weigh in on social media posts, including those from Nchumbonga George Lekelefac such as an ongoing apostolic visitation, Seeking Transparency and Accountability: An Examination of Bishop Michael Miabesue Bibi’s Leadership, Bishop Michael Bibi, The Father, The Bishop, The Rock On Which Buea Diocese Is Built, The Truth and nothing but the truth about Buea Diocese under Bishop Michael Bibi, and Ex-cardination of suspended priests of Buea Diocese: a solution?

“For the past few months, much has been said and written about the Diocese of Buea and her Chief Shepherd, Bishop Michael Miabesue Bibi,” the Catholic Priests say.

They express their support for Bishop Bibi, saying, “We, the Priests of the Presbyterium of Buea, have watched with dismay at the smear campaign orchestrated by some individuals and even some members of the presbyterium and groups on social media against the person of the Bishop and the work he is doing in the Diocese of Buea which is already yielding fruits in abundance.”

“Unfortunately, some of these publications have had a negative impact on the faith of many of our Christians,” the members of the Clergy of the Cameroonian Diocese lament.

They continue, “At this point, we want, as a Presbyterium, to affirm and declare our support for the Bishop, and in making this affirmation, dissociate ourselves from all those seeking to manipulate and mislead the people of God in the Church of Buea.”

“As Priests serving in the Diocese of Buea, we remain united with the Bishop as he continues to lead this Diocese with grace, compassion and integrity,” they further say.

The members of the Clergy express their awareness of the challenges involved in shepherding the people of God. They say, “The role of a Bishop is fundamental in the spiritual life of every Diocese and yet, pastoring a Diocese is a challenge and a huge responsibility before God and man.”

They call upon the people of God in Buea Diocese to “remain calm and united in the face of these attacks, because we are confident of the words of Jesus in Mt. 16:18, that the gates of the underworld shall never prevail over the Church.”

All Consecrated persons and the Laity need to “stand in support of our Bishop so that he may realize his vision for this Diocese, for the greater Glory of God, and for our Salvation,” they say.

The Clergy laud the 52-year-old Catholic Bishop who has been at the helm of Buea Diocese since December 2019, first as Apostolic Administrator, and since February 2021, as the Local Ordinary.

“My Lord Bishop, we admire your composure in the face of all these attacks and we encourage you to remain calm, confident that God is your strength,” the Catholic Priests implore.

As Apostolic Administrator of Buea, Bishop Bibi made administrative changes in the Diocese-owned Catholic University Institute of Buea (CUIB), leading to controversy among the members of the institution’s Council. The Vatican clarified his mandate as the Apostolic Administrator of the Cameroonian Diocese.

In September this year, Bishop Bibi was honored by the country’s NewsWatch Newspaper for his “exceptional skills” in leading the people of God and managing the property of his Episcopal See.

Earlier, in February 2022, Catholic Bishops in Cameroon’s Bamenda Ecclesiastical Province expressed their “solidarity and communion” with their colleague, Bishop Bibi following social media attacks.

In their collective statement dated 11 February 2022, members of the Bamenda Provincial Episcopal Conference (BAPEC) said their “hearts were deeply saddened by the unfortunate turn of events in the Diocese of Buea, characterized by gross disrespect of the hierarchy of the Church, casting of aspersions on Bishop Michael Bibi.”

Source: aciAfrica

24, November 2023

Dublin: Police arrest 34 as PM says rioters brought ‘shame’ on Ireland ⁰

A night of torched vehicles and shop looting sparked in Dublin after a knife attack outside a school was of an “extraordinary” level of violence unseen in decades, police said Friday.

The violence started when a group broke through a police cordon Thursday in the area where three young children and a women who was caring for them were injured in a knife attack.

Groups went on to torch busses and trams and loot shops in one of Dublin’s most famous throughfares, O’Connell Street.

Garda Commissioner Drew Harris told a press conference in the Irish capital on Friday that multiple Irish police officers were injured in a running battle with the group that stormed the crime scene in Dublin on Thursday night.

He said that one officer received a serious injury, with “numerous other members injured” as missiles were thrown at them.

“What we saw last night was an extraordinary outbreak of violence,” Harris said. “These are scenes that we have not seen in decades.”

Harris said “all lines of inquiry” are open to determine the motive for the knife attack.

Harris said 34 people were arrested after “huge destruction” by the “riotous mob” with 13 shops significantly damaged or subjected to looting.

A police cordon was set up around the Irish parliament building, Leinster House, late on Thursday night, amid concerns that the violence could spread.

‘Motivated by hate’

Irish Prime Minister Leo Varadkar said that protesters who battled police and looted shops were motivated by “hate” and brought “shame on Ireland”.

“Those involved brought shame on Dublin, brought shame on Ireland and brought shame on their families and themselves,” Varadkar told reporters.

For his part, Harris blamed a “complete lunatic faction driven by far-right ideology” for the disorder.

“We have a complete lunatic hooligan faction driven by far-right ideology, and also then this disruptive tendency engaged in serious violence.”

Harris said calm was restored in the city shortly after midnight.

Irish Justice Minister Helen McEntee said the scenes of disorder were “intolerable” and that a “thuggish and manipulative element must not be allowed to use an appalling tragedy to wreak havoc”.

“We will not tolerate a small number using an appalling incident to spread division,” she said.

Some protesters carried signs reading “Irish Lives Matter” and waved Irish flags through a neighbourhood home to a large immigrant community.

One protester told AFP that “Irish people are being attacked by these scum.”

Ireland has been facing a chronic housing crisis, with the government estimating that there is a deficit of hundreds of thousands of homes for the general population.

Inflated rents, high interest rates and lack of supply create European housing crisis

Widespread dissatisfaction has fed into a backlash against asylum seekers and refugees, and far-right figures have promoted anti-immigration sentiment at rallies and on social media with claims that “Ireland is full”.

Source: AFP