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According to the auditors’ report on the Central African States Bank (BEAC), Cameroon’s gold reserves were estimated to be a little over 29,954 ounces in December 31, 2014. These reserves had a monetary value of 19.5 billion FCF compared to 17 billion FCFA for the same period in 2013. This amounts to a 2.3 billion FCFA increase.

The report suggests that this increase in the gold reserves’ value can be attributed to the improvement in the price per ounce of gold on the international market as the precious metl was going for “994 euros per ounce (around 651,000 FCFA) at the end of 2014, against 875 euros (around 573,000 FCFA) in late 2013.”

Of the five CEMAC countries having gold reserves at the central bank, (according to the report, Equatorial Guinea has none), Cameroon possesses the largest quantity, far ahead of Gabon, which has 12,837 ounces in the BEAC. The Congo, the Central African Republic and Chad are almost the same: 11, 125 ounces.

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Ngwa Bertrand

19.Apr.2015

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According to Jeune Afrique, Marck President, Philippe Belin, recently signed a contract to supply military uniforms to Cameroon’s defence forces. Marck will fulfil the contract in partnership with a GDF Suez subsidiary. The contract’s value has not been disclosed.

Before Cameroon, the French group which specialises in uniform and equipment manufacturing for armed forces (the army, policemen, customs, firemen, forestry agents and prison officers) had already landed the Burundi army contract.

The Marck contract has been announced in Cameroon only weeks after the Cameroonia police decided to change uniforms. Indeed, since the month of March, Cameroon’s finest shed their famous brown uniform for another in dark grey.

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Ngwa Bertrand

19.Apr.2015

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Dangote cement has gone on sale in Cameroon! The Dangote 3X Cement graded 42.5R is produced from Dangote Cement Cameroon S.A. multi-billion industrial scientific complex at Bonaberi in Douala. Cameroon Concord can now reveal that the construction of the 1.5 million tons capacity per annum cement plant in Douala, the economic capital of Cameroon is now a reality. Dangote Cement has a work force of 290 personnel, 13 expatriate staff and 167 contract staff.

The General Manager Abdullahi Baba told local and international media recently that once the project goes fully operational, Dangote Cement Cameroon S.A shall increase its staff to 500. He also revealed that an estimated 2,000 indirect jobs will be created soonest. 60,000 bags of cement is being sent out of the factory on a daily basis.

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Ngwa Bertrand

14.Apr.2015

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On April 2, 2015 in Edea, ninety-five Cameroonian members of parliament headed by House Speaker, Cavaye Yéguié Djibril, attended the launch of the second “caravan to promote farming”.

On the initiative of the “Youth Hope” parliamentary network coordinated by Nkam Gaston Nkomba, youth from the Coastal region’s departments who met in Edea learned about the various government projects available to support the self-employment of Cameroon’s young people in the world of farming.

Attending the meeting, the Delegate Minister of Agriculture, Clémentine Ananga Messina, lauded the dynamism of Edea and the Sanaga departments’ young people for their contribution to the development of palm oil in Cameroon and suggested that they attempt to do the same with cassava – a produce ripe with potentia

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Ngwa Bertrand

12.Apr.2015

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Since February 15, 2015, the coastal tankers of Société nationale de raffinage (Sonara) have not been able to make three trips to the port of Douala where the oil tanks of Société camerounaise des dépôts pétroliers (SCDP) are located. Refined oil products are delivered from there to eight regions across the country.

This situation, which has been attributed to the consistent congestion at the port of Douala, the country’s largest, has been officially found to be responsible for 6 billion FCFA in lost earnings for Cameroon’s sole refinery.

This example brings to the forefront again the importance of the pipeline project for which the first portion will cover 110 km between the oil city of Limbé and the economic capital, Douala. The second portion will cover 70 km between Douala and Edea while the third portion, covering 175 km, will connect the Cameroonian capital, Yaoundé, to Edea.

Totalling 218 billion FCFA, the oil pipeline will “provide a 46% gain in freight costs between Limbé and Douala and a 24% improvement in road and rail transportation costs, particularly considering that roads and railway respectively account for 35% and 65% of oil transported between Douala and Yaoundé. It will also yield a 28% reduction in transportation cost between Limbé and Douala as well as Douala and Yaoundé

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Ngwa Bertrand

12.Apr.2015

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In 2015 and 2016, Air Algérie will be servicing 10 new destinations in Africa. This was announced by the airline’s CEO, Mohamed Salah Boultif, who went on to specify that Cameroon’s two largest cities, Yaoundé and Douala, will begin in 2016.

Air Algérie will be entering an increasingly competitive market. Indeed, according to statistics provided by the Cameroon Civil Aviation Authority (CCAA), air traffic increased by 2% in Cameroon in 2014. Between 2012 and 2013, it had already increased by 11%, according to the same source.

Despite the increasingly apparent interest African and European airlines have shown in Cameroon, the industry leader remains Air France which has a 21% stake in the thirty-company strong market. Respectively second and third in line are Brussels Airlines (13%) and Camair Co (11%), the national carrier. In total, these three companies on their own represent 45% of Cameroon’s air transportation, according to the CCAA.

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Ngwa Bertrand

10.Apr.2015

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