Life is gradually returning to normalcy in Bamenda, North West Region after last week’s violent strike action. Taxis are busy transporting passengers while bike riders who were at the center of the strike have resumed work. Shops have been reopened and markets are all noisy once again.

Areas worst hit by the strike such as City Chemist, Hospital Round About and Mobile Nkwen, are all booming with activities. Bus conductors could be heard scrambling for customers who ply different destinations such as Bali, Nkwen, Mbengwi among others. In most joints in Bamenda, Security forces are stationed to preempt any uprising again. Policemen from the mobile intervention unit are perceived putting on their war shield, armed right at the level of their teeth.

At the Food market, traders are present but buyers are few, most are still scared to go out of their homes, talk less of going to a gathering like the market. The traders hold that most people bought their food and stored in homes while others are still to recover from the shock and damages.

But as the town of Bamenda is back to life, Babila John, a roadside trader at City Chemist says it is just temporal, he suspects the strike might be more intensive by January. Traders had said the fact that they are back in markets does not mean they have called off the strike, according to Unionists, the strike shall continue after the festive period.

Culled from Cameroun info.net

Delegates from the 25 member states of the Inter-African Coffee Organization are meeting in Yaoundé in the fourth African Coffee Symposium. During the five-day conclave which opened on 29th November 2016, the delegates will exchange notes and share experiences on how the African coffee industry could emerge.

The symposium is holding under the theme, “Inclusive Value Chain Transformation in the African Coffee Industry”. In Cameroon, coffee is grown extensively with robusta coffee more prevalent in the coastal areas and arabica coffee widespread in the western highlands.

In September 2014, the Government of Cameroon validated and launched a new plan to revive the coffee sector, hoping to boost production and in that same year, Cameroon was ranked the 31st largest producer of coffee in the world. It is worth mentioning that coffee farming in Cameroon dates to 1884, during the German colonial era.

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CPDM business has commenced at the National Assembly with Cabinet Ministers defending their budgetary allocations in the Committee on Finance and Budget of the House. The Minister of Finance, Alamine Ousmane Mey, set the ball rolling on November 23, 2016. It was a long night starting with the presentation of the Report on the Nation’s Economic, Social and Financial Situation and Outlook for the 2016 financial year.

Minister Alamine Ousmane Mey, proceeded with the defence of draft budgetary allocations for 18 sovereign institutions like the Presidency of the Republic, Services attached to the Presidency of the Republic, National Assembly, Prime Minister’s Office, Economic and Social Council. The exercise culminated with the Ministry of Finance, whose budgetary allocation is estimated at FCFA 52 billion in 2017 up from FCFA 46.2 billion in 2016.

The Report on the Nation’s Economic, Social and Financial Situation and Outlook notes that the achievement rate of internal budgetary revenues stood at 68.9 per cent by the end of the first nine months of the 2016 budgetary year. Resources mobilized stood at FCFA 2,373.1 billion. Domestic budgetary revenue amounted to FCFA 2,056.3 billion while cumulative budgetary expenditure amounted to FCFA 2,418.41 billion with a 2.4 per cent increase.

Cameroon’s economy remains resilient, with growth strengthened around 6 per cent, holds the macroeconomic and budgetary projections. Growth slowed slightly to 5.3 per cent in 2016 as against 5.8 per cent in 2015 with fingers pointing at the drop in oil production. Growth however, continues to be driven by the non-oil sector with value added projected at 5.7 percent. The strong increase in gas production is expected to fit the holes of the decline in oil production. The inflation rate, the Minister indicated, is not expected to exceed the threshold of 3 percent. He stated that the terms of trade could become favorable again in 2017 after several years of hardship.

Culled from Cameroon Tribune

The government has presented a draft budget for the 2017 fiscal year. It is 4,373.8 billion FCFA.  The bill was tabled at the National Assembly today the 21^st of November 2016 during a plenary sitting of the House which was chaired by the Senior Deputy Speaker of the, Hilarion Eton.

The 2017 draft budget recorded an increase of over 139.1 billion FCFA compared to that of 2016. The bill was presented alongside that which authorizes the President of the Republic to ratify the agreement between Canada and the Republic of Cameroon on the promotion and protection of investments.

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It has been revealed that the CPM government is seeking an increase in the 2017 budget. According to the draft tabled during this current session devoted to examine the budget which started on Thursday the 10^th of October, the government expects a budget of 4378.8 billion FCFA in 2017.

Cameroon Concord News understands if the budget is adopted by parliament, it will witness an increase of CFAF 139.1 billion compared to the 2016 budget. Our chief economic correspondent noted that it will record a more than 3% increase in relative value. 70% of the Finance Act will be devoted to the operating budget, as in previous years.

By Rita Akana

The Economic Community of Central African States (ECCAS) has issued licenses to 23 enterprises doing business in Cameroon to export products tax-free to the ECCAS member countries.

The representatives of the 23 enterprises were handed over their licenses in a ceremony chaired by the Minister of Trade, Luc Magloire Mbarga Antangana.

Minister Luc Magloire Mbarga Atangana said the licenses are proof of government’s will to strengthen the private sector and reinforce sub regional integration.

The permits will enable the enterprises reach a larger market of about 160 million customers, improve the quality of products through competition and account for a turnover of about 408 billion FCFA.

The representatives for their part called on the Cameroon government to complete the construction of the Kumba – Mamfe road so as to improve business between Cameroon and neighbouring Nigeria.

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Members of the Inter-ministerial committee on railway infrastructure have met to evaluate the first five year plan to renew part of the French Cameroon’s railways secure level crossing and acquire new wagons and Locomotives. During the 25th session, chaired by the Minister of Transport, Edgar Alain Mebe Ngo’o, it was revealed that 4 cranes and 8 scanners have been acquired and are already in use in Douala, Yaounde, Belabo, and Ngaoundere. Nothing was mentioned about the Kumba-Mbanga lines or prospects of linking the North West region to the West with rails.

It was also disclosed that 150km of railway between Batchenga and Sa’a, have been renovated. The 5 year plan also targets the rehabilitation of the Yaounde North, Yaounde South and Douala entry ways. These projects to modernize French speaking Cameroon’s railways will enable the sector play a crucial role during the upcoming major international sports events, the 2016 and 2019 Africa cup of Nations.

The International Committee on Railway Infrastructure has as mission to follow-up investment programs renovations and development of railway infrastructure.

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The Ambassador of Israel to Cameroon Ran Gidor, has emphasized the need to enhance Cameroon’s Small and Medium Size Enterprises. Ambassador Gidor raised the concern during an audience with the Minister of Small and Medium Size Enterprises, Lazare Etoundi Ngoua that held on September the 20^th 2016.

The Israeli strongman in Yaounde said the idea of Small and Medium Size enterprise has been one of Israel’s main exports. He further observed that Small and Medium Size Enterprise is the backbone of the Israeli Economy since the country is small and without any multinational firm.

Ran Gidor promised to follow-up on Cameroonian business incubators to see if they can function like the hi-tech Israeli one. Minister Lazare Etoundi Ngoua after very intensive and productive discussions, validated the Ambassador’s ideas shared on issues concerning  the Small and Medium Enterprise.

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