Business

Finance Ministers, the central bank governors and the presidents of the regional institutions of the Franc Zone met on Friday, October 2, 2015 in Bercy- Paris under the direct supervision of Michel Sapin, French Minister of Finance and Public Accounts. The meeting came within the framework of the second bi-annual forum of finance ministers of the Franc zone in the French capital. The first was held in Bamako, Mali, in April 2015. The Paris meeting had on its agenda the examination of all monetary agreements between France and the countries of the Franc Zone, the integration of capital markets in the Franc Zone and the internationalization of finance surveillance as a main counter terrorism response. 

Asked about the possibility for African countries to renegotiate the terms of the monetary cooperation agreement linking the countries of the Franc zone and France, Michel Sapin said that: "This is a debate that has existed ever since the creation of the CFA zone. What I can say from the French side is that we are in a space that is a desire shared space. It is a space where everyone is respected, where everyone can suggest a number of solutions. The franc zone is not a static area; it is not a historical area. This is an area that is dynamic. If there is on the part of each other in academic or political proposals, well, we will discuss together with the spirit of respect and equality.”

When asked whether the African countries of the Franc zone can effectively use the three thousand billion Euros of African money held in the French treasury. The French Minister of Finance and Public Accounts replied: "Yes, that is a question that is often asked. These reserves are essential for African countries to be able perform international business based on changes from day to day or month to month, to meet a particular need, for example pay for imports outside. So this is not confiscated money, not money set aside. This is money that can be mobilized at any time to meet the needs of African economies."

Cameroon was represented in this meeting by Alamine Ousmane Mey, Minister of Finance and also President of the Ministerial Committee for the Monetary Union of Central Africa. The franc zone also comprises France and 15 African countries. Eight of them make up the Economic and Monetary Union of West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. Six others are the Economic and Monetary Community of Central Africa (CEMAC): Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.

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Ngwa Bertrand

05.Oct.2015

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The Director of the Civil Cabinet, Martin Belinga Eboutou on behalf of President Paul Biya has received in audience the Vice President of the Rothschild Europe Bank Group, Jean Claude Meyer. The audience took place at the Unity Palace on Wednesday, 30th September 2015.

Discussions during the tete-a-tete centred on the economic opportunities, available in the country. Jean Claude Meyer explained that Cameroon is a rich ground of opportunities. He emphasized that the bank holds Cameroon in high esteem due to its increasing growth rate and political stability. 

The business magnate hopes to create and strengthen cooperation ties between Cameroon and Rothschild Europe Bank Group. The Deputy Secretary General at the Presidency, Seraphin Magloire Fouda was also present during the audience.

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Ngwa Bertrand

02.Oct.2015

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The Director of the Civil Cabinet, Martin Belinga Eboutou on behalf of President Paul Biya has received in audience the Vice President of the Rothschild Europe Bank Group, Jean Claude Meyer. The audience took place at the Unity Palace on Wednesday, 30th September 2015.

Discussions during the tete-a-tete centred on the economic opportunities, available in the country. Jean Claude Meyer explained that Cameroon is a rich ground of opportunities. He emphasized that the bank holds Cameroon in high esteem due to its increasing growth rate and political stability. 

The business magnate hopes to create and strengthen cooperation ties between Cameroon and Rothschild Europe Bank Group. The Deputy Secretary General at the Presidency, Seraphin Magloire Fouda was also present during the audience.

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Ngwa Bertrand

02.Oct.2015

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Dangote Cement has received the award for best African Business of the Year 2015. The jury commended Dangote Cement for its ability to constantly develop new products adapted to acquire new market share and expand its activities across the continent. 

The Nigerian wealthy businessman, Aliko Dangote has succeeded in recent years to spread genuinely by opening branches in several African countries, including Cameroon. With a single plant located in Douala and a new installation announced for Yaounde - Dangote currently produces about 950,000 tons of cement in Cameroon.

He also intends to expand further in sub-Saharan Africa in anticipation of the construction boom and future infrastructure.

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Ngwa Bertrand

30.Sep.2015

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The Ministerial Committee of the Central African Monetary Union has called on governments within the sub-region to seek for diverse strategies of creating state revenue so as to improve on Economic Growth. The call was made during an ordinary session of the committee in Yaounde presided by Cameroon’s Minister of Finance, Alamine Ousmane Mey- President of the Commission. 

In order to achieve the objective, the chairman of the Commission says the following measures should be considered: - The promotion of Regional Integration so as to foster an enlarged business environment where more investors are attracted and to reduce budgetary expenditures.

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Ngwa Bertrand

30.Sep.2015

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Dangote Cement has received the award for best African Business of the Year 2015. The jury commended Dangote Cement for its ability to constantly develop new products adapted to acquire new market share and expand its activities across the continent. 

The Nigerian wealthy businessman, Aliko Dangote has succeeded in recent years to spread genuinely by opening branches in several African countries, including Cameroon. With a single plant located in Douala and a new installation announced for Yaounde - Dangote currently produces about 950,000 tons of cement in Cameroon.

He also intends to expand further in sub-Saharan Africa in anticipation of the construction boom and future infrastructure.

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Ngwa Bertrand

30.Sep.2015

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