11, July 2022
CPDM Crime Syndicate: Yaoundé to borrow CFA178bn on the BEAC market in Q3 2022 0
The Cameroonian government planned to borrow CFA178 billion on the Beac public securities market in Q3 2022. According to its Q3 2022 provisional schedule of public securities issues, the government wants to raise CFA118 billion through issues of fungible Treasury bills (BTAs), which are securities with a maturity of up to one year, and CFA60 billion through issues of fungible Treasury bonds (OTAs), which are long and medium-term securities. In detail, the first issue is scheduled for July 11. It is a syndicated issue of 26-week BTAs for CFA83 billion. A second BTA issue is scheduled for July 25. The maturity is 52 weeks and the government is seeking CFA15 billion.
In addition, two operations on BTA with 52 and 13 weeks of maturity are planned for August 8 and 22, respectively. They aim to raise a total of CFA20 billion, at a rate of CFA10 billion per operation.
On August 29, 2022, Cameroon will launch its first OTA issue for the 3rd quarter. The Treasury seeks CFA20 billion through 6-year bonds. On September 15, another 7-year OTA issue is planned to raise CFA40 billion. As a reminder, in the amending finance law validated by the Parliament in June 2022, the Head of State raised the threshold for government debt through the issuance of public securities to CFA550 billion. This is CFA200 billion more than the amount in the initial budget law, voted in November 2021.
This measure will further increase the country’s public debt, which is already high although below the 70% of GDP threshold set in the CEMAC region.
Source: Business in Cameroon
11, July 2022
Autopsy in Spain for ex-Angola leader amid foul play claims 0
An autopsy has been carried out on in Spain on former Angolan President Jose Eduardo dos Santos, who died last week in Barcelona, at the request of one of his daughters who suspects foul play, her lawyers said Monday.
The results of the autopsy are not yet available, a spokesperson for Tchize dos Santos’ lawyers said.
A Barcelona court authorised the post-mortem on Friday, the day of his death, a court spokeswoman said.
Dos Santos, who ruled Angola between 1979 and 2017, had lived in Barcelona since April 2019.
The 79-year-old was taken to hospital and placed in intensive care after suffering a cardiac arrest on June 23.
His 44-year-old daughter — whose full name is Welwitschia dos Santos — swiftly demanded the hospital retain his body “until an appropriate autopsy is carried out.”
She said in a statement on Saturday there were “a series of signs” that her father’s death occurred under “suspicious circumstances”.
Tchize has filed a legal case in Spain against the former Angolan president’s widow, Ana Paula, and his personal physician for “attempted murder”.
The complaint also includes allegations relating to “failure to exercise a duty of care, injury resulting from gross negligence and disclosure of secrets by people close to him,” her lawyers said in a statement on Friday.
Tchize claimed her father and his wife had been separated for some time, meaning that his spouse had no right to make decisions about his health.
Police confirmed receiving the complaint and said they had opened an inquiry.
Tchize also argues her father wanted to be buried privately in Spain and not in Angola in a state funeral “which could favour the current government” in the former Portuguese colony.
Born in the slums of Luanda, dos Santos was one of Africa’s longest-serving leaders.
Critics say he used his nation’s oil wealth to enrich his family while leaving his people among the poorest on the planet.
When he stepped down, dos Santos handed over to former defence minister Joao Lourenco whom he had handpicked to succeed him.
But Lourenco quickly turned on his erstwhile patron, starting an anti-corruption drive to recoup the billions he suspected had been embezzled under dos Santos.
Source: AFP