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Sub-Saharan Africa: Growth "At Its Lowest Level In Six Years"

Growth in sub-Saharan Africa reached 1.6 percent in 2016, "its lowest level in six years", Ivorian vice-president Daniel Kablan Duncan, on Tuesday (April 4th) in Abidjan, deplored "a slowdown in economies from the continent".

 

"African economies are hit hard by the drop in commodity prices and the 40% drop in Chinese demand," Ivorian vice-president said at the opening of an international meeting on "Building a Sustainable Future in Africa".

 

XAF 500 billion saved in five years

The 2011 seventh reform in the area of public procurement in Cameroon is yielding benefits, according to Abba Sadou, the Minister of Public Contracts, as revealed in an interview with the government daily newspaper. He asserts that the reform has enabled the Treasury to save XAF 500 billion over the last five years.

 

Cameroon and IBD will launch XAF 15 billion

finance local SME and the Islamic Development Bank (IDB) are planning to launch a project labelled “microfinance Cameroon”, which will enable to finance Cameroonian SMEs with approximately XAF 15 billion, under conditions established by Islamic financing.

 

XAF 100,000 now required to create a Limited Liability Company

Cameroonian economic operators will now only need a minimum capital of XAF 100,000 to create a limited liability company (Sarl), instead of XAF one million as in the past. This is the reform brought by a decree signed on 1 March by Prime Minister Philemon Yang.

This reform, which also exempts the potential creators of Sarl from the obligation to draw up their statutes by notarial deed (it was necessary to pay XAF 300 000 to do so),

Banks in Cameroon Are Doing Well

The turnover of Cameroonian banks increased by 7.8% from XAF 4,687.3 billion at December 31, 2015 to XAF 5,054.9 billion over the same period in 2016,according to a press release from the National Credit Council (NCC).

According to the institution, an examination of the situation of Cameroon's banking system composed of 14 establishments, allowed to observe, in general, an evolutionary curve of the data.

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.

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