Business Sat, 16 Feb 2019 18:54:27 +0000 Joomla! - Open Source Content Management en-gb Camair-co sluggishly started 2019 with three aircraft out of six are out of order. Camair-co sluggishly started 2019 with three aircraft out of six are out of order.

Cameroon’s airline Camair Co closed 2018 with a turnover of XAF26.6 billion, up more than XAF10 billion compared to the XAF16.4 billion in 2017, the company’s balance sheet showed.{loadposition myposition}


Yet, the airline sluggishly started 2019 only operating half of its fleet since three of its six aircraft are out of order, two Boeing and a Chinese MA60; a situation that slowed performances, the company said.

In detail, Camair Co collected only XAF1.4 billion in January, far below the average XAF2.4 billion per month throughout 2018. This month (February 2019), the company’s top management forecasts revenues to drop further to XAF700 million.

According to MD Ernest Dikoum, a way out for the company is to quickly mobilize XAF2.5 billion to acquire three rental aircrafts, including two Bombardier Q400 and one Boeing 737. The company also aims, in the short term, to raise XAF5.5 billion and repair the engines of the immobilized Boeing 737s.{loadposition myposition2}


]]> (Brice R. Mbodiam) Business Thu, 14 Feb 2019 14:57:43 +0000
Cameroonians spent over XAF228 billion in the last 4 years on the purchase of mbile phones Cameroonians spent over XAF228 billion in the last 4 years on the purchase of mbile phones

Between 2015 to 2017, the money spent to purchase mobile phones reached a total of XAF228 billion, ranking these devices in the top 10 most imported items in Cameroon, the trade ministry revealed.

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In detail, expenditures were XAF81.3 billion in 2015, XAF146.2 billion in 2016 and XAF60.4 billion in 2017, reflecting a decrease by XAF85.8 billion, or more than half, between 2016 and 2017.

According to the posts and telecoms department, the bullish trend between 2015 and 2016 is the fact of a strong growth of the mobile penetration rate, since the advent of mobile phones in the country in 2000. Statistics showed that this rate jumped to nearly 83% in 2016 from about 12% in 2005 ; a growth more pronounced in 2015 with the deployment of 3G and 4G networks by mobile operators that drove the use of smartphones to ease the access of internet.

A deduction would lead to the conclusion that the implementation of these networks drove the higher spending for phone import in 2016.

Brice R. Mbodiam

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]]> (Concord Newsdesk) Business Mon, 11 Feb 2019 10:03:01 +0000
The Government of Uganda promotes oil and gas projects at Africa Oil Week 2018 The Government of Uganda promotes oil and gas projects at Africa Oil Week 2018

Uganda offers opportunities for companies looking to explore, develop and utilise its petroleum assets.

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LONDON, United Kingdom, August 23, 2018/ -- Hon Irene Muloni, the Minister of Energy and Mineral Development, in the Republic of Uganda will lead a delegation of private and public-sector players from Uganda’s oil and gas sector to the Africa Oil Week 2018 (, which will be held between 5 – 9 November, 2018 in Cape Town, South Africa. Hon Muloni said, “Uganda is open for business and we will be looking forward to promoting the country`s highly progressive and lucrative hydrocarbon sector during the Africa Oil Week. Over the course of the week, we will announce a roadmap for Uganda’s next licensing round and offer insights into our country’s potential and operating environment.”

Uganda is committed to developing its petroleum sector across the entire value chain, and clear strides to move the country’s key assets from the exploration phase into the development phase have been made. Uganda offers opportunities for companies looking to explore, develop and utilise its petroleum assets. The Permanent Secretary of the Ministry of Energy and Mineral Development Robert Kasande said, “During the Africa Oil Week, we will host private meetings with the global private sector with a view to successfully attract capital in every stage of our oil and gas value chain.”

Ernest Rubondo, Executive Director of the Petroleum Authority of Uganda went on to say, “As the regulator of Uganda’s oil and gas sector, Africa Oil Week offers the Authority an exciting platform to provide insight into the regulatory environment in the country and how this has been structured to position the country as a sound investment destination. We encourage operators, investors and service companies to attend the Oil Week and meet with officials from the Government of Uganda and the private sector. Uganda welcomes you to partner in what we believe is one of the most commercially viable and prospective oil and gas environments in the world.”

The Africa Oil Week is an important event which continues to drive new business opportunities for E&P companies in Africa. It presents an exclusive and dynamic network of Oil and Gas operators in Africa. Former UK Foreign & Commonwealth office Minister with responsibilities for Africa, the Caribbean, UK Overseas Territories, International Energy and Conflict Prevention Rt. Hon. Mark Simmonds added, “The commitment of the Ugandan Government to Oil Week reflects a country on the move in the petroleum sector. Africa Oil Week will focus on the country’s oil and gas sector during the week.”

Dr Josephine Wapakabulo, Chief Executive Officer for Uganda National Oil Company (UNOC) also added that, “UNOC is responsible for the State’s commercial interests in Uganda’s oil and gas sector and we see the country’s participation at Africa Oil Week as a clear opportunity to engage with the most prestigious global operators. UNOC will arrive at Africa Oil Week looking for strategic partners who have the appetite, financing, technology and capabilities to deliver equitable and profitable projects in Uganda’s oil and gas sector.” These projects have been identified and will be on display during the week.

Conference Director Mr. Paul Sinclair said, “On top of the 13 confirmed ministers who will lead delegations to Africa Oil Week, we now have a partnership with the Government of Uganda to host a huge opportunity for the global private sector to exclusively engage and hold private meetings regarding oil and gas opportunities at Africa Oil Week.” This comes fast on the back of the governments of Ghana and Congo announcing their own bidding rounds at Africa Oil Week in November 2018. Africa Oil Week remains the only true industry event for the Africa’s upstream Oil and Gas sector.

Distributed by APO Group on behalf of Africa Oil Week.

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]]> (MYK) Business Fri, 24 Aug 2018 13:44:38 +0000
Frenchman Alain Ripert appointed new head of BICEC Cameroun Frenchman Alain Ripert appointed new head of BICEC Cameroun

Formerly the managing director of BICEC, Alain Ripert has been promoted to the position of administrator of BICEC and member of the board of CEPAC in charge of the overseas departments. The news of his departure was already circulating at the end of BICEC’s board meeting on March 23, 2018, but there was no clarification on where he would land. {loadposition myposition}

Nonetheless, he will manage BICEC until the end of August 2018. The departing managing director is being replaced by Sylvain Faure, the current president for market development of BPCE international, the entity to which subsidiaries such as BICEC belongs. The appointment of Sylvain Faure occurs while the group is implementing an exit strategy in Africa and according to analysts; the operation with BICEC is the most complicated for the French Group. Let’s note that Alain Ripert achieved his goals to put BICEC on track. Indeed, speaking during the launch of the renovation works at the headquarters in Douala, he saluted the work of his collaborators and team to whom the group realized a turnover of CFA60 billion and a net profit of CFA10 billion in 2017.

This performance offers him a glorious exit following the discovery of a fraud scheme, which is still being investigated, within the group two years ago. The bank has not yet published the whole figure of its operation in 2017 so it is difficult to assess the real extent of the performance that year.


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]]> (Concord Newsdesk) Business Wed, 04 Apr 2018 04:40:29 +0000
Ecobank mobile app reaches 4 million users milestone in Africa Ecobank mobile app reaches 4 million users milestone in Africa

LOME, Togo, April 3, 2018/ -- The upgraded version of Ecobank’s ( revolutionary mobile app has attracted 3 million new customers in just 6 months, taking the total number of users to 4 million.  

The app builds on the core functionality that saw the original version applauded as a game changer for African banking by using digital technology to combat many of the financial inclusion barriers faced by those on the continent. This includes the dearth of rural branches, affordability of products, high transaction costs and minimum opening balance requirements.

Ade Ayeyemi, Ecobank Group CEO, says Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks. Subsequently, while the app won one million customers in its first year of launch, upgraded features have seen the rate of sign-ups treble in half of the time. So far this year, app usage has been growing at an average 700k new customers per month.  {loadposition myposition}

“Customers can use the app on their mobile to instantly open Ecobank Xpress Account™, which doesn’t have any account fees, paperwork or minimum balance requirements, or to send and receive money across 33 African countries,” he explains. “Therefore, our app not only removes the barriers that have financially excluded so many Africans but offers next generation functionality to help them send money, make withdrawals or pay for goods and services.”

Patrick Akinwuntan, Ecobank’s Group Executive, Consumer Banking, says that Ecobank is committed to providing all Africans with access to financial services, but doing so in a way that conjoins functionality with convenient, accessible and efficient banking channels, such as the rollout of Ecobank Xpress  Point Agents.

“We want to be the digital bank of choice for all Africans,” he said. “Functionality is one thing – giving our customers unrivalled convenience is another. The Ecobank Xpress  Point Agents that can now be found in your local neighbourhood enable you to deposit money into your app-based Ecobank Xpress Account™ and begin to make digital payments on the app using Ecobankpay. You can also withdraw funds in local currency that may have been sent to you from friends or relatives using our innovative instant transfer or Xpress Cash capabilities.”

The Ecobank Mobile App is available for download from the Google Play Store or Apple Store.

Distributed by APO Group on behalf of Ecobank.

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Media Contact:
Mireille Bokpe-Anoumou
Group Communications
Tel: +228 22 21 03 03
About Ecobank Transnational Incorporated (‘ETI’ or ‘The Group’)
Incorporated in Lomé, Togo in 1988, Ecobank Transnational Incorporated (‘ETI’) ( is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group employs over 17,000 people in 40 different countries in over 1,200 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Additional information on Ecobank can be found at


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]]> (Concord Newsdesk) Business Tue, 03 Apr 2018 14:47:45 +0000
Switzerland pumps in CFA3.4 billion to promote renewable energy projects in Cameroon Switzerland pumps in  CFA3.4 billion to promote renewable energy projects in Cameroon

Switzerland disburses CFA3.4 billion to promote renewable energy projects in Cameroon. This was revealed on March 14, 2018, during the first meeting of the steering committee in charge of the management of this fund in Yaoundé.

During the meeting presided by the economy minister, Alamine Mey, it was revealed that the projects supported by these funds will be constructed by the rural electrification agency (AER). {loadposition myposition}

Let’s note that though the potential exists for solar, biomass and wind energy in Cameroon, they represent only 1% of the country’s energy mix.  


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]]> (Concord Newsdesk) Business Fri, 16 Mar 2018 05:38:57 +0000
Cameroon launches call for tender to run multipurpose terminal of Kribi deepwater Cameroon launches call for tender to run multipurpose terminal of Kribi deepwater

 Port autonome de Kribi (PAK) has just launched a call for expression of interest to pre-qualify the companies that are willing to operate the multipurpose terminal of Kribi deepwater port. {loadposition myposition}

Cameroon’s government thus restarts the process it concluded in August 2015 by choosing the group formed by Necotrans and Kribi Port’s Multi Opérators (KPMO) which is a consortium formed by many local companies.

Indeed, due to financial difficulties, Necotrans was unable to fulfill its commitments in the framework of this concession and in January 2018, the country officially declared that company’s default. {loadposition myposition2}

]]> (Concord Newsdesk) Business Fri, 16 Mar 2018 05:31:54 +0000
Cameroon : Hysacam drops her tools over unpaid arrears Cameroon : Hysacam drops her tools over unpaid arrears

The Hygiene and Sanitation Company dawned their beach duty equipment such as trucks, Caterpillars and general cleaners today, the 12 of March, 2018 over unpaid arrears. This strike action is aimed at putting pressure to bear on the state of Cameroon, so that these unpaid arrears can be cleared.

The two months of unpaid arrears makes work cumbrous and challenging because it's with money that the cleaning of the city is facilitated. These workers went to the head quarters today as early as 5am. " we do the very challenging and assiduously and our work must be valued" We breath in stinking and smelling odour, which is nauseating throughout the day.{loadposition myposition}

We must not be taken for desperado and garbage. No truck shall leave for work today without salaries paid" declared Nestor, one of the workers of Hysacam. It must be noted that it was a peaceful demonstration on the street leading to the headquarters and they weren't blocked. Besides the two months unpaid arrears, the workers also complained about a very long history of irregular payment of salaries, rents,unpaid family allowances,health insurance and other mutual benefits according to Roger Nchoungou Njoundap, one of the staff delegates.

This strike action was carried out without the notifying the employer. According to the trade unionist, it was just a spontaneous reaction of workers who have gone for months without their salaries. A very urgent staff meeting was called for at 5pm by the Director of the Douala branch office. " The employers aren't happy with the attitude of the workers because the Company is going through a very difficult moment.

We are going to go through the third month without salaries. Nevertheless the staff representatives are going to explain to them the procedure. The employers assessed that the procedure is too slow and too long" Work generally got halted this morning" when there was too much work to be done. The Staff representatives collectively wrote a letter the Branch Manager on the 9th of March, 2018,expressing the difficulties that workers go through.

The Branch manager promised informing the General Manager ( Michel Ngapanoun. The General Manager admitted only owing one month of salary arrears and has refused to comment on the issue of the strike before holding a crisis meeting was held a few hours letter.{loadposition myposition2}

]]> (Concord Newsdesk) Business Tue, 13 Mar 2018 06:01:04 +0000
Cameroon to sanction unlicensed telecom operators Cameroon to sanction unlicensed telecom operators

Philémon Zo’o Zame, managing director of Cameroon’s telecommunication regulatory agency (ART) took a step further in the agency’s fight against the unlawful operators in the sector.  

Indeed, the managing director has just published another statement informing that the unlicensed operators could incur fines between CFA100 million and CFA500 million.

He reminded those operators that they were allowed a 6-months deadline from May 2, 2017, to submit their license application.{loadposition myposition}

This deadline has passed and in line with the agency’s mission, a team will check the licenses this month.

 Philémon Zo'o Zame also said that he was amazed to notice that despite the various notices from ART, some operators and added-value suppliers still operate in the telecommunication sector without a license.


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]]> (Concord Newsdesk) Business Fri, 09 Mar 2018 06:12:16 +0000
Students begin studies in Africa’s first-ever junior management agribusiness training program Students begin studies in Africa’s first-ever junior management agribusiness training program

AGCO, Your Agriculture Company (NYSE:AGCO) (, a worldwide manufacturer and distributor of agricultural equipment, and its partners celebrated the launch of the new AGCO Agribusiness Qualification (AAQ) at Strathmore University in Kenya on 6 March 2018.

Twenty students have been enrolled on this brand-new program which is focused on developing the skills, leadership and strategic expertise to drive African agricultural prosperity.

The AAQ is a joint effort between AGCO, Strathmore Business School (SBS) in Nairobi, Harper Adams University in the UK and Kenya-based The Bridge Africa which runs programs to prepare graduates for employment. The qualification delivers an accredited two-year agribusiness program for students aged 20-30 who already hold a degree. On completion of the course, successful candidates may have the opportunity to join AGCO and its partners.{loadposition myposition}

Welcoming guests to the launch event, Gary Collar, AGCO Senior Vice President and General Manager Asia-Pacific and Africa said: “This is an important day for agribusiness education in Africa and I warmly congratulate our new students on gaining their places on the program. The AAQ was initiated by AGCO as a direct response to attract and develop young talent in the crucial agribusiness sector. Together with our partners, we are making a long-term commitment to address the management skills’ shortage. We are determined to foster the expertise required to work successfully in the agricultural supply chain and tackle the current recruitment challenges our industry faces here.”

Chief Guest at the breakfast launch event at SBS was the Hon. Zeinab Hussein, Permanent Secretary for Post Training & Skills Development, Republic of Kenya, who spoke with students enrolled on the course.  

AAQ participant Ernest Muchai remarked: “This program is unique as it has a wealth of experience behind it. I’m interested in enhancing productivity and using technology in agriculture so the AAQ is ideal. The opportunities available in agriculture are massive - not just for people interested in farming but for people who can offer services that farmers can benefit from.”

Fellow student Sharon Waswa adds: “Agricultural mechanization is the missing link between small-scale agriculture and commercial agriculture. By taking part in the AAQ, I hope to be able to help to bridge that gap. The only way that Africa can be transformed is through agricultural sector and this is where the opportunities are.”

The AAQ course syllabus has wide scope covering areas such as agricultural mechanization, leadership skills, business management, agricultural science, marketing and farm management. To provide essential on-the-ground, practical experience for students, the program includes workplace modules with AGCO and its business partners.

Commenting, Nuradin Osman, AGCO Vice President and General Manager Africa, said:

“The AAQ program is a catalyst for change in the agribusiness sector across Africa. We are all very proud and excited to see our vision for a new qualification become reality and wish our new students every success in their endeavours.”

For more information on the AAQ, visit

To view a video of the students talking about the course and their aspirations for African agriculture, go to

Distributed by APO Group on behalf of AGCO Corporation.

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]]> (Concord Newsdesk) Business Thu, 08 Mar 2018 06:19:04 +0000