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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.

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.


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