Business

Mobile Phone Operators MTN, Orange and Nexttel Cameroon signed a contract on April 19, 2016 a contract with Chinese company Huawei as part of the implementation of a centralized database for the operation of mobile phone numbers in Cameroon.

Eventually, the project will allow subscribers to retain their phone numbers when changing operators .Previously, it was not possible to take your number over from MTN to Orange if you wanted to change your mobile operator.

Signing the contract with HUAWEI is a culmination expertise work from the 3 mobile companies opeerating in Cameroon . In total, forty meetings working sessions were held between mobile operators and Huawei. 

The Director General Controling the telecoms regulatory authority in Cameroono , Jean- Louis Beh Mengue had launched the tender for the supply, installation and operation of a centralized database for managing mobile number portability in Cameroon in 2013,however it was on July 21, 2015 that the tender was published and Huawei was declared winner to execute the contract .

Huawei has become the main partner of Cameroon in terms of development and construction of telecoms infastructure.

In a nutshell the new measure means that by November 2016 shall be able to switch telephone service providers from MTN to Orange or Nextell to MTN, while maintaining their  existing phone numbers.

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Jackson Tantoh

21.Apr.2016

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The capital of Medcem Cameroun, the cement factory built in the country the Turkish group Eren Holding, has just moved from FCfa 10 million to 400 million through "cash contributions" from the shareholders , we learned in a legal notice published on 18 April 2016. Though the company has kept tight-lipped on the objectives of this recapitalisation, we can presume that it will be used to truly launch the operations of this cement factory in Cameroon.  

Indeed, after a brief appearance of the Medcem cement on the Cameroonian market in October 2015, mainly in the Quifeurou chain of hardware stores, the product then disappeared a few weeks later without any real explanation. This short appearance of the bags of Medcem Cameroun cement on the market then suggested that the 4th cement factory (after Cimencam of the Lafarge group, Cimaf and Dangote) of the country was finally in operation, after postponing twice the commissioning of its production plant in Douala in March and June 2015.

In addition to the above-mentioned injection of funds made by the shareholders of Medcem Cameroun, the Turkish cement factory in Douala also made changes to its management team. It is now led by Turkish Taha Abdurrahman Ozbey, who takes over the position of MD from Cameroonian Jacky Bruno Tcheutchoua, downgraded to the position of second Deputy Managing Director. The Board is chaired by Turkish Emre Eren.

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Elangwe Pauline

20.Apr.2016

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An economic interest group from the ports of Le Havre, Rouen and Paris (HAROPA) in France has arrived in Cameroon to meet the country’s business community and praise the qualities of their infrastructure for activities related to the import or export of goods, reliable sources disclosed on Monday.During the meeting, the French port conglomerate endeavored to
demonstrate to local exporters and importers that as the first French
port infrastructure, it offers adequate solutions to best meet their
foreign trade operations.

To better take advantage of the traffic of fruit, bananas, cocoa, timber containers and other Cameroonian export products, HAROPA presents itself as the leading port of a key market for the national economy. 

Cameroonian traders would gain time and costs using it as their
service provider.

HAROPA also wants to further develop the transit of vehicles and special packages exported to major construction sites rife in Cameroon, taking into account the new possibilities opening up with the decongestion of the port of Douala and the beginning of activities in the port of Kribi.

In light of the significant trade links between Cameroon and France, estimated at about CFA 615 billion in 2015, taking into account the longstanding relationship between HAROPA and Cameroonian import-export activities, the visitors are betting on the possibility of giving a new impetus to that relation.

To that end, HAROPA offers services with competitive advantages, even though French exports to Cameroon dropped by 1.5 percent last year.

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Elangwe Pauline

19.Apr.2016

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Since the launch of the sale of the Cardiopad in February, Himore Medical, the startup through which Cameroonian IT specialist Arthur Zang developed the first African medical tablet, has sold 43 kits out of the 300 already manufactured, he revealed to Quotidien de l’Economie. 50% of kits were sold in Gabon, and other orders were delivered to India and Nepal.

Thanks to the income generated by these first sales (the Cardiopad kit costs FCfa 2 million), the creator of the Cardiopad indicates, Himore Medical is planning to launch in two months the company Kimore Medical Equipements, a medical equipment assembly unit. The plant which will be based in the Nsam area in Yaoundé, the Cameroonian capital, is looking to recuit 150 employees in the coming days. .

 The equipment of this assembly plant, which necessitate an investment of FCfa 100 million, we learned, will be imported from China. But, if the financing necessary to purchase this equipment could be covered by the income generated by the first sales, Arthur Zang admits needing to raise between FCfa 50 and 75 million to train his personnel and secure the first salaries of the employees to be recruited. .

 As a reminder, the Cardiopad is a a device which can collect and remotely transmit the cardiac parameters of a patient. This invention which earned international recognition for the young Cameroonian engineer, helps compensate for the deficiency in cardiologists in the hospitals. The founder of Himore Medical announces for the near future the presentation of a simplified version of the device, which enables the patient to collect themselves from their home the most important of these cardiac parameters, without needing a specialist, and to simply remotely send them to a doctor for analysis. .

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Elangwe Pauline

18.Apr.2016

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People dream of a life of ultimate success; great wealth & true happiness. But only a few attain it. While many may argue that true success doesn’t entail you becoming a millionaire or a billionaire, in private, they wish they could have a taste of that life, even for just a day.

One of the world’s few billionaires who experience life at it’s helm of true financial success, is Nigeria’s Aliko Dangote; the richest black man in the world.

How did he achieve this height? What did he do right or wrong? What investing tips did he use? And how can it all be replicated?

Dangote may have started his business career at the age of 21, in 1977, with a sum of 500,000 Naira (which could buy 100 brand new Mercedes Benz at that time), but the reason for his success was far beyond is startup capital, but rather, his smart investment decisions. You too, can learn from them.

1). Only Invest In What You Completely Understand:

In an interview with MTV Base in 2012, Aliko Dangote expressly stated that he does not venture into any business he does not completely understand, and this keeps both him, and his company focused.

Curiosity they say, killed the cat. But why did the cat actually die?

This statement has ambiguous meanings. But the most obvious, is the fact that the cat sometimes doesn’t make it back alive because, it tried to explore what it couldn’t and didn’t understand.

Curiosity isn’t entirely a bad thing. In fact, the greatest discoveries on earth were made by some of the most inquisitive people in history. But it must be threaded with caution. One sure thing smart caution has proven, is the fact that it has created billionaires in Africa.

Investing in something you don’t understand because that’s what everyone is talking about, or going into, could be the fastest way to end your finances

. When they say successful entrepreneurs take risks, they weren’t talking about stupid risks. Such only puts your finances on the edge.

It’s important that a thorough feasibility study about the proposed business idea is done, and that you’re darn sure the business will solve a real problem.

Perhaps then, you could someday be like, or even far better than Aliko Dangote.

2). Diversify Your Investments:

With a wide portfolio ranging from cement to sugar, textiles, real estate, steel, telecommunications, poly products, port operations, and even now, an eight billion Dollars oil refinery in the works, Aliko Dangote has covertly built an almost fail-proof diversified conglomerate, which employs over 26,000 people.

Multiple sources of income, is a major requirement to becoming a successful entrepreneur. And Dangote’s decisions so far, have shown that he has a knack for venturing into different highly profitable businesses.

The crash in the global price of crude oil has had little impact on his cement & sugar businesses directly. Although the prices of the products are now lower, his cement and sugar sales have only also just risen, with higher sales projections estimated.

One thing the richest black man in the world’s journey has taught, is that in times of economic recession and unforeseen challenges, one or some of your major investments, will cover up for others, till the wave is gone. No wonder he’s now stipulated to be wealthier than Oprah Winfrey, Donald Trump, & Roman Abramovich combined.

3). Start Producing:

Aliko Dangote, after importing and trading in commodities for many years, one day came to the conclusion that if he were ever to reach his true dreams, he’d have to stop being an importer, and focus a lot more on becoming a producer.

This prompted him to setup eleven factories at a go, to kick-start his manufacturing career.

Though expensive, manufacturing is one great way to really control your pricing, and bring products down to the consumer level at really affordable rates.

If you hope to someday beat all the competition, and claim a huge chunk of whatever market you’re playing in, you’d have to change your gear, and switch to manufacturing.

This investing tip, is one of the key secrets of the world’s billionaires.

4). Sell A Brand, Not Just A Product:

Do you know Amancio Ortega Gaona, the billionaire founder of Zara? You can never be like him or better, if you don’t build a brand around your products and services. The same applies to Aliko Dangote.

The Dangote brand is one of the most valuable brands in Africa. In Nigeria especially, almost anything branded as “Dangote” almost always wins the market’s trust.

As you grow your business, make sure people can identify it through it’s brand image. This investing tip will leave a footprint on your customer’s minds about the experience they had with your products or services.

5). Become A Great Networker:

The way you arrive is who you are, and your network is your net worth. If you’re going to someday reach the heights Aliko Dangote has attained, you’d have to surround yourself with only people that can take you there.

How do you get these folks to respect you? You have to invest both in yourself, and your business. You need to master emotional intelligence, have a strong understanding of human behaviour, and be able to nearly accurately sum up a person from the on-set.

The book, “The Art Of Speed Reading People” by Paul D. Tieger & Barbara Baron-Tieger, is a good place to start. It gives the reader an in-depth understanding of the 16 personality types, and how to accurately calculate and estimate which temperament group a person belongs too. The predictive accuracy taught in this epic piece, is insanely correct! This book, is a must read for any true networker.

These 5 investing tips have made Aliko Dangote, not just a billionaire, but the richest black man in the world. The application of these principles in your business journey, will ensure you’re on the right track to building a million Dollar, or probably a billion Dollar business.

What are your thoughts on these 5 powerful investing tips of Alhaji Aliko Dangote?

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Elangwe Pauline

16.Apr.2016

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An Egyptian Transport company has promised to offer 100 Urban Transport buses to the government of Cameroon.The donation is meant to serve the need of urban transport ahead of the Africa Cup of Nations to be hosted by Cameroon in 2016 and 2019.

The Egyptian Ambassador to Cameroon Sherif Salah Eldin Elleithy is the bearer of the good tidings. He was received in audience yesterday 15th April 2016 together with a delegation of the Egyptian Transport Company by the Minister of Transport Edgard Alain Mebe Ngo’o.

Other issues such as reinforcing bilateral ties in the Maritime and Air Transport sectors were also featured in their discussions.

CRTV

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Elangwe Pauline

16.Apr.2016

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