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From AGOA 2016

The AmCham Cameroon led a delegation of business representatives to the 15th annual Sub Saharan African Growth and Opportunity Act Forum on September 26, 2016 in Washington D.C. The AGOA legislation provides opportunities for preferential trade tariffs to more than 40 Sub Saharan African countries. There are more than 6000 articles that are eligible for export under the AGOA agreement. This report summarizes the best practices and strategies that were discussed for utilizing AGOA.

Entrepreneurship: 300 Women to Acquire Management Skills

The ILO/GICAM sponsored project was launched in Douala recently.

 Women constitute over 50 per cent of Cameroon’s population, but are yet to make their presence felt in economic decision-making. To bridge the gap and shift the disturbing 9 of every 10 women entrepreneurs from the informal sector to the formal sector, the International Labour Organisation (ILO), in collaboration with GICAM, have come up with a project to impact 300 women with business management and enterprise-creation skills.

Western Union suspended in Cameroon for Tax Reasons

For several months, it has been impossible to carry out Western Union money transfers from Cameroon outward. Indeed, the money transfer service via Western Union has been suspended in the vast majority of partnering financial institutions in Cameroon. Only withdrawals are possible.


Cameroon: Franco-American Trio to Modernize the Electrical Network

A consortium formed by the French companies RTE and Nodalis and the U.S. firm PwC will finalize the accounting separation of the assets of the Cameroonian electricity distribution network managed by Eneo and their transfer to the new national electricity distribution company (Sonatrel) at the latest in December 2017. The objective is to modernize the distribution network, the weak link in the electricity sector.

Loans granted to Cameroonian Companies by Société Générale Increased by 17% in 2015, to XAF 59 billion

Outstanding loans granted by the Cameroonian subsidiary of the French bank group Société Générale totalled XAF 553 billion in 2015, a 13% increase in relative value, we learn from a financial report posted by this banking institution on its internet site.

Pre-shipment Inspection: Private Sector Wants Conformity to Local Realities

Inspection of goods entering the country began on August 31, 2016.

Inspection companies in the private sector are worried that certain verification requirements within the Conformity Assessment Programme, PECAE, do not consider local realities such as the state of roads. They propose modification of certain requirements in order to better protect citizens from the importation of substandard and counterfeit products and to ensure that products within the local market are those of good quality.


OIL & GAS/ Energy Trade Mission

The American Chamber of Commerce in Cameroon (AmCham) attended the 9th Annual Oil and Gas Conference held on April 27-29, 2016 in Houston, Texas with a delegation of  Cameroonian businesses.

The participating companies expressed an interest in opportunities offered by the American market in the Oil, Gas, and Energy sectors.

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