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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.

Cameroon: First Rating from Moody's

Cameroon has been rated "B2" for its local currency and foreign currency bonds. The New York agency highlights the challenges related to the country's exposure to the oil shock, and a potential growth by investments in infrastructure.

In a report published Friday, August 5, at the close of the financial markets, the US rating agency Moody's published its first assessment of the sovereign rating of Cameroon.

 

Cameroon Raised XAF 7 Billion on the BEAC Market, With an Average Interest Rate Lower Than 2%

The Cameroonian Public Treasury again issued, on 10 August on the public stock market of the Bank of Central African States (BEAC), fungible treasury bonds with a 13-weeks maturity. According to the communiqué made public at the end of this operation, this issuance of public stocks, as has been the case for several months, was over-subscribed.

 

Cameroon First-Half Inflation Falls To 1.3% Year-On-Year

Cameroon's inflation rate fell to 1.3 percent in the first half of 2016, compared with 3.4 percent over the same period in 2015, the National Institute of Statistics said in a report on Thursday.

The price of cereals slipped 0.3 percent, while that of maize tumbled 9.0 percent.

On the other hand, the prices of alcoholic beverages and tobacco rose by 7.4 percent, and hotel and restaurant services by 4.9 percent.

 

Ecobank Strengthens Its Mobile Banking Activities in Africa

Since last week, Flooz users, the mobile phone money transfer service owned by the mobile operator Moov Togo, who are equally Ecobank customers, can transfer money from their bank account to their Flooz account and vice versa.. The deal became possible after a partnership agreement signed between Ecobank and Moov Togo on August 4, 2016.

 

Through this collaboration, Ecobank is strengthened more in the Mobile Money segment in Africa. The banking group is already a partner in the Mobile Banking with larger telecoms groups such as MTN since 2011, Airtel since 2013, and Orange since 2015.

Cameroon Economic review

      For over 60 years now, the two countries have moved places in trade and investment, but they could do better. Economic co-operation between Cameroon and the USA dates as far back as 60 years with much to show in terms of mutually-beneficial trade, investment and the improvement of the business climate. Although statistics show that trade between the two countries over the years has been negative for Cameroon, as it imports more than it exports to USA, the exchanges have however been stable. 

 

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