Business

The government of Cameroon through the first Technical Adviser of the Prime Minister, Prof Touna Mama has assured development partners of its willingness to decongest the Douala Seaport so as to facilitate trade and maintain win-win cooperation. Prof Touna Mama was speaking in Yaounde on 19 March, 2015 at the Imsofer production site in the Coron neighbourhood in Yaounde as he led an inter-ministerial delegation to demonstrate government’s acknowledgment of the company’s support to the country’s industrialisation process. Representing the Secretary General at the Prime Minister’s Office, Touna Mama extended the condolence of Cameroon to Italy for the passing away of its illustrious son, Michel Ferrero, founder of the Ferrero group who died on February 14.

The Minister for Mines, Industry and Technological Development, Emmanuel Bonde said government could not play the deaf and dumb game, given the added value of the company to the country’s economic growth. The technology the company was using to produce finished and semi-finished products like chocolate and cocoa blocks, respectively was simple, easy for local entrepreneurs to tap in terms of experience. Most especially is the company’s usage of raw material like Cameroon’s cocoa for processing. It imports other raw materials like milk and sugar and its products are said to be perishable. The Central African Sub-region and Asia are fertile markets to Imsofer’s products not leaving out the local market.

Established in 2006, Imsofer, according to its Deputy General Manager, Andrea Fessia, employs over 200 persons. While admitting that the situation at the port was real and retarding production, Andrea Fessia nevertheless recognised that it was impossible to wake up one day and decongest the Douala Seaport.  He said they opted for a special transport means in the form of dredging ships to speedy goods clearance. He praised government efforts to seek lasting solutions to companies contributing to the country’s Gross Domestic Product that are facing difficulty at the Douala Seaport. He revealed Imsofer’s realisation of two social and humanitarian projects – rehabilitation of a pediatric department in the St Martin de Porrès in Etoug-Ebe, Yaounde and the construction of a Kindergarten School in Cité Verte, Yaounde. The Italian Ambassador to Cameroon, Samuela Isofa said their goal is to show “an example of the success stories in industrialisation that binds her country and Cameroon.”

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Ngwa Bertrand

21.Mar.2015

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The authoritative Forbes International Magazine has published its list of powerful men in Africa for the year 2015. Cameroonian born NJ Ayuk who moonlights as managing partner of Centurion LLP won a place in Forbes classification. Cameroon Concord hereby presents the first 5 as reported by Forbes Magazine.

Victor Ochen, Uganda

Victor Ochen, 33-year old former child victim of war-turned-crusader for youth leadership and advocate for the rights of war victims, was nominated for the 2015 Nobel Peace Prize by the American Friends Service Committee (AFSC). As founder African Youth Initiative Network (Ayinet), Ochen joins Mussie Zerai, an Italian priest of Eritrean descent, Pope France and Edward Snowden as nominees for the 2015 Nobel Peace Prize. In his thanks to the AFSC for the nomination, Ochen said he hoped, “that this nomination will contribute to a change of the perception of Africa’s youth. We are not a tool of injustice, but agents of prosperity and peace.”

Edwin Macharia, Kenya

Recently named a Young Global Leader, class of 2015 by the World Economic Forum, Edwin Macharia came to prominence in his role as Director of Agriculture with the Clinton Foundation where he led partnership-building and operations in agriculture for a $100Million USD initiative focused on effecting holistic development at the grassroot-levels. Currently a partner at Dalberg, based in Nairobi, Kenya, Macharia advises developing countries’ governments, international organizations, and corporations among others on a range of issues including strategy, operational optimization, and program execution.

NJ Ayuk, Equatorial Guinea

NJ Ayuk, managing partner at Centurion LLP, a law firm which advises the government of Equatorial Guinea on oil and gas deals and contracts, launched his firm back in 2009 with two other lawyers.  The U.S-educated attorney (J.D and M.B.A) was motivated by the tremendous market potential of international businesses and investors interested in doing business on the continent, especially in the energy sector. Under Ayuk’s exceptional leadership, Centurion grew from just two employees to 35 employees and became the largest law firm in Equatorial Guinea. Centurion is said to have signed the highest number of oil and gas deals in Africa. From working as a housekeeper at a hotel and as a server at a fast food restaurant in Germany at the age of 16-years, today Ayuk is one of the continent’s leading African oil and gas lawyers.

Mbwana Alliy, Tanzania

Mention venture capital, technology in Africa and invariably the name Mbwana Alliy comes up. Alliy is the founder and managing partner of Savannah Fund, an Africa-focused technology venture capital that runs both an accelerator and a venture fund that ranges from $25,000 to $500,000 USD in seed capital for early stage high growth technology (mobile and web) startups in sub-Saharan Africa. Alliy is a well-respected in the tech community in Africa; “Through Savannah Fund Alliy has given African startups a real chance. Not only did Savannah Fund invest in us, they also enable us to get to Silicon Valley,” wrote Rodgers Muhadi of Card Planet.

Moustapha Ben Barka, Mali

One of Mali’s emerging political leaders, Moustapha Ben Barka was recently named Deputy Secretary General in the Office of the President of the Republic of Mali. Recently named a Young Global Leader, class of 2015 by the World Economic Forum, Barka mostly recently served in the Government of Mali as Deputy Minister of Economy and Finance where he was in charge of investment and promotion of the private sector. Prior, he served as Minister of Industry and Investment Promotion.

 

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Ngwa Bertrand

21.Mar.2015

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Ngwa Bertrand

19.Mar.2015

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The Industrial and Commercial Workers Union of Ghana (ICU) has said that more 3,000 jobs would be lost by the end of 2015 due to the poor energy situation in the country.  Ghana has been in energy crisis for the past two years but the current situation beginning this year is serious. Households and industries are deprived of electricity for more than 24 hours. The worsening power crisis is having a serious effect on businesses. Many of these businesses have to rely on generator to power their businesses which consequently increases operational cost, making job owners retrenching workers to avoid running at lost. Secretary General of the ICU, Solomon Kotei told reporters in a press briefing that between January and March this year, the union can report that over 500 jobs have been lost due to the deepening energy crisis.

He said the rate of redundancies in the various sectors of the economy is alarming and immediate steps must be taken to resolve the socio-economic challenges to save jobs. “If the trend is anything to go by, we are looking at about 2,000 to over 3,000 job losses within this year from our sector alone but we don’t know about others,” he said. The ICU therefore urged the Ghanaian government to reduce the cost of petroleum prices to help local businesses to get the means to buy fuel to power their generators to support their businesses. Fuel prices have not been reduced in Ghana despite the drastic fall of crude price on the world market. Political commentators have criticized the Ghanaian government for failing to reduce fuel price to help cover for the poor energy situation. The Right-Wing opposition party, the New Patriotic Party and other independent groups have held protest against the government for failing to find lasting solution to the energy crisis.

The Ghanaian government has been struggling to meet the energy needs in the country despite various interventions including importing gas from Nigeria to power its thermal plants to augment the hydro energy from the Akosombo Dam. Majority of Ghana’s energy comes from hydro. But the Akosombo hydro dam which was built by Ghana’s first President, Kwame Nkrumah in 1964 has not been managed properly by successive Ghanaian governments, culminating in the current energy crisis in the country. In January this year, the Ghanaian government reached an agreement with the United States energy giants, General Electricals worth $1 billion for the supply of energy to the country. But that agreement is not meant to solve the short term energy crisis the country is experiencing. Energy experts have criticized the government for failing to deal with the energy situation and many political commentators say the energy crisis would be a crucial determinant if Ghanaians will or not retain the government in next year’s general elections. Ghana will vote in December 2016 to choose a new executive President and parliament.

 

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Ngwa Bertrand

18.Mar.2015

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The Ghanaian government has issued a strong statement directing oil companies in the country not to sack workers over fallen price of crude on the world market. Earlier this month, oil companies in Ghana started laying off their workers to prevent loses due to fall in the price of crude. More than 100 workers have already been laid off. The oil companies have hinted that more workers will soon go. However, Ghana’s Petroleum Ministry observed that although the oil companies reserved the right to downsize their staff, Ghanaians working in departments such as Operations, Technical Services and Planning, Project and Engineering, Well engineering and Subsurface and Exploration should not be laid off.

The ministry further said the order has become necessary because Ghana is still young in the oil business and therefore needs to learn essential skill needed for the exploration activities. ``The Ministry directs that the oil companies offer Ghana a competitive severance package and roll out placement support programs to ensure proper transition. This will ensure that the continuous effort to build and augment oil and gas technical skills and competency among Ghanaian professionals as prescribed by the local content policy and law is sustained’’, the Ministry said in a statement. There has not been any response from the oil companies. But some independent observers told Cameroon Concord that the oil companies are likely to defy the government’s order which might end up in court.

Crude oil on the world market has fallen to a record low of around $47 dollars and this is expected to affect the economies of the oil exporting countries especially those in the developing world. Ghana’s President, John Dramani Mahama said in January that the country will lose some $700 million oil revenue this year as a result of the falling price of crude on the world market.  Ghana makes an average of $1.2 billion annually from crude oil production but the fallen price of the commodity has brought the expected revenue down to $500 million.

Ghana discovered its offshore oil and gas fields in 2007. By 2010, it had started pumping the first oil. Since then, oil has been produced in commercial quantities, and over the next 20 years, it could earn up to US$20 billion in export revenue for the country. It is expected that this will present an opportunity for the growth of the country’s economy but the picture has began to look different from what is expected. Quite a number of companies are scrambling to trade with Ghana in the oil sector. It is very difficult to verify their numbers due to restrictions on certain government documents, allowing them to continue to operate in the dark with the help of corrupt politicians.

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Ngwa Bertrand

18.Mar.2015

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The Fako community and the entire Cameroon will in the coming weeks benefit from a drive of cutting-edge technology. In collaboration with Fako Cultural Development Association (FACUDA), the CEO of African Green Industries and Technologies (AGI), Engineer Emmanuel Efome based in Germany will lead a team, transferring solar technological knowledge from Germany to Cameroon.

Being the first of its kind in the Fako region, the project will not only transform and revitalize but will as well supplement sustainable energy to the undersupplied energy sector of Cameroon, and hence increase the wattage. Consequently the problems of deficiency and scarcity of desirable electrical energy will be drastically curbed in the anticipated future, once the implementation phase commences.

Between the 7^th and 30^th April 2015, as partner in cooperation, the Opportunities Industrialization Center (OIC) Buea - Cameroon will host the special training of local electricians. In an exchange with Cameroon Concord, the CEO of AGI, Mr Emmanuel Efome reiterates that through this training, experienced local electricians with little or no experience in Photovoltaics will be imparted with an in-depth insight into the basics and the process of planning, designing, installing and operating and maintaining photovoltaic systems.

The German trained Engineer in addition specified, that out of the basic general knowledge of electrical business operations, electricians and technicians in Cameroon deserve to acquire, advance and explore the skills of doing business with the Sun – The Green Economy; which involves harnessing potentials of the market segment, financing, customer service and future prospects. These and other aptitudes will be enlightening highlights in the four weeks training project, says Mr. Emmanuel Efome.

Cameroon Concord understands that this project is being subsidize by Engagement Global and the German Federal State of North Rhine Westphalia, meanwhile it will be realized in cooperation with other institutions like Haute energy Systems and Solar Energie Projekt

This development has been applauded by Cameroonian opinion leaders and leading organizations in Germany. It is a long awaited advancement says Sylverster Njungong, an Engineer working with LedTech GmbH Germany. We all need to support the AGI initiative, and it is hoped this project achieves the anticipated goal emphasized Mr. Njungong

In his quest to empower his people by taking these skills back home and just like the biblical Jesus Christ, Engineer Emmanuel Efome wants his people to know how to fish, rather than  fish them.

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Ngwa Bertrand

15.Mar.2015

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