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The United States Hands Over XAF 156 billion to Cameroon to Support Public Health

On April 27, 2017, President Paul Biya received the United States Ambassador to Cameroon, Michael Stephen Hoza, at the Unity Palace. The agenda included an overview of the current national headlines, and the strengthening of bilateral cooperation.

More specifically, Ambassador Hoza announced that a significant sum of XAF 156 billion has been mobilized by the US government to support public health in Cameroon. The project, the US diplomat said, will provide an effective response to improvements in maternal and child health, HIV / AIDS, malaria and other pandemics such as Ebola.

Douala and Kribi Ports Working In Tandem to Create Central African Hub

The Autonomous Port of Douala (PAD) and the port in Kribi (PAK) signed on 5 May 2017, a framework-agreement on cooperation. This agreement allows for the handing-over of PAK’s assets managed until now by PAD. The ceremony for the signature which took place in the port of Kribi in Mboro was presided over by the Minister of Transport, Edgard Alain Mebe Ngo'o.


CEMAC Zone: The Financial System Experiences Growth despite Crisis

Despite the slowdown in economic activity, the banking sector is growing. The statement emanates from the Financial Stability Committee whose meeting held on 09 May 2017 in Yaoundé.

The Financial Stability Committee in Central Africa (FSC-CA) held its first meeting for 2017 on 09 May 2017 in Yaoundé, chaired by Abbas Mahamat Tolli, Governor of the Bank of Central African States (BEAC). The agenda included the analysis of macroeconomic conditions. In general, the Central Africa sub region is doing well, despite a few situations, such as the slowdown in activity that led to the deceleration of growth in 2016 or the deterioration of the terms of trade in 2017.

BEAC Shows Positive Result

The general report of Beac’s auditors (Bank of Central African States) shows a positive result. The 2016 financial year report was published Wednesday May 3 on the institution’s website, showing a net profit of XAF 164.177 billion (about USD 273 million).

Compared to the previous year, this result increased by XAF 4 billion (XAF 160.7 billion in 2015). On the other hand, this year's total balance sheet is down, with XAF 7073 billion against XAF 9389.691 billion in 2015.

The World Bank Expects a Growth In Sub-Saharan Africa, to 2.7% in 2017 and 3.2% in 2018

After hitting its lowest level in more than two decades in 2016, the economic growth in sub-Saharan Africa is expected to rebound by 2019, according to the new edition of Africa's Pulse, a biannual report by the World Bank.

Published on April 19, the report highlights that economic growth in the region is expected to reach 2.7 per cent in 2017, 3.2 per cent in 2018 and 3.5 per cent in 2019.


Cameroon: WB more than 100 billion injected into transport

The International Bank for Reconstruction and Development (IBRD), a lending arm of the World Bank Group (WB), will disburse XAF 113 billion for Cameroon, according to a decree signed on 17 April 2017 by the President of the Republic Paul Biya.

The decree empowers the Minister of Economy, Louis Paul Motazé, to sign this loan agreement on behalf of the Cameroonian state. The loan had been approved by the WB Board in October 2016.


Agriculture: New Project to Boost Productivity

The five-year project worth over XAF 75 billion and expected to create 6,000 jobs was officially launched Monday April 24, 2017 by MINADER.

Government has launched another project to scale up agricultural productivity in the country. The Agriculture Value Chain Development Project code named PD-CVA and sponsored by the African Development Bank to the tune of over XAF 75 billion will create 6,000 jobs for youths and over 24000 indirect jobs. It will improve living conditions and ensure food security.

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