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.

CRTV

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.

CRTV

A protocol agreement has been signed between the Cameroon government and the electricity company ENEO for the transfer of surplus capacity from their optical fiber. The energy to be transferred to the Ministry of Post and Telecommunications is intended to allow the Ministry upgrade its national broad band.

According to the MINPOSTEL boss, who signed for the government of Cameroon, the protocol will help the ministry meet its electronic communication needs and modernize information and control systems in the country.

The Director General of ENEO, Nana Kontchou who signed for the electricity company said the agreement will ensure the quality at a digital age. Experts estimated the surplus from ENEO worth 986 strands of optic fibre cables, of this, 812 kms is due to be transferred to other companies.

The agreement signed therefore stipulates that ENEO will transfer 78 strands of the optical fibre to MINPOSTEL to improve power transmission grid. If this is effective the digital economy will be boosted.

CRTV

It has been revealed that the amount of money transfers from the diaspora to Cameroon is 1.2 billion dollars or nearly 585 billion FCFA. The figures were released by the British company, World Remit, considered the world leader in digital money transfer. Statistically speaking, this means that the diaspora contributed 33% in the Public Investment Budget (PIB) of Cameroon in 2016.

Some financial experts have opined that the figure also an equivalence of over 60% of the necessary funding needed for the implementation of the so called Biya emergency plan or nearly 120% of the funding sought for the construction of the Nachtigal dam.

World Remit also reported that money transfers from the Cameroonian Diaspora have doubled over a two year period.  Generally, these funds are used primarily for the basic needs of families back home. World Remit however emphasized that “remittances from abroad play an important role in the economy of Cameroon.”

By Sama Ernest with files from CIN

The former general manager of Camair-Co, the national airline, Jean Paul Sandjo Nana has been told not to travel out of the country. Paul Sandjo was about to board a Royal Air Morocco plane when he was asked to hand over his passport.

Mr. Nana Sandjo was served the exit ban that prevents him from traveling abroad which was issued against him since August 24, 2016 on the recommendation of the Higher State Control (CONSUPE).

Nana Sandjo was asked to return home where he awaits further proceedings in an investigation that will include the almighty Edouard Akame Mfoumou, former Board Chairman of Camair-Co and onetime minister of finance.

By Sama Ernest

Cameroon at the end of July this year had a debt situation of 4,754 billion FCFA, representing 27.3 per cent Gross Domestic Product, far below the 70 per cent ceiling set by the Central African Economic and Monetary Community, CEMAC, sub-region. This satisfactory situation will be maintained in the long-run if stakeholders continue to upgrade skills on mobilizing resources for the State properly and in a more disciplined manner.

The Minister of Finance, Alamine Ousmane Mey, however says there is need to remain cautious when analyzing the figures, given the implementation of projects for transforming the country into a middle income economy by 2035 as planned by the Head of State. The Minister made the disclosure in Yaounde yesterday August 30, at a ceremony to present the texts, missions and working procedures of the National Committee in charge of Public Debt, (NCPD). It was set up in 2008 by the Prime Minister to coordinate and follow-up the implementation of the national public indebtedness and public debt management policy with focus on developing objectives for State financial resources.

The Minister, who is also NCPD Chairperson, said government was committed to righting the wrongs of the past with the Heavily Indebted Poor Country Initiative (HIPC) of the early 2000 that led to the freezing of the country’s debts by partners. Making sure that the country was on the right path to “borrowing cautiously and spending wisely,” with focus on enabling future generations to repay debts normally, was primordial, Finance Minister stated. “We have to be careful in the conception, evaluation and mobilisation of resources to develop the country”, he said, stressing that NCPD members must know the position of the country’s debt policy where; “If we are not watchful enough while looking for resources to finance our development projects, we may end up in a situation where sustainability is not ensured.” Public debt concerns countries all over the world because of the risks involved. The one-day dialogue  was part of efforts to maintain Cameroon’s possibility of mobilizing resources for development. Cameroon therefore needs to maintain the quality of its signature in the financial market as well as with its donors so as to mobilize enough resources for development.

Cameroon Tribune

Paul Biya has signed a decree appointing Ngo’o Cyrus as Managing Director of the Port of Douala. The Biya decree was made public on August 24, 2016, some few hours before the Cameroonian dictator left for an unknown destination in Europe.

Cameroon Concord News understands Ngo’o Cyrus was presented and immediately installed on the same Wednesday evening during a session of the Board of the Port of Douala which held in the economic capital under the direct supervision of the Minister of Transport, Alain Edgar Mebe Ngo’o.

Ngo’o Cyrus replaces Emmanuel Etoundi Oyono who died in Paris in France last month of an illness. Before his appointment, he was responsible for missions at the Prime Minister Office in Yaoundé.  To be sure, he was appointed to the Prime Minister Office only on July the 4^th 2016. So this is the second presidential decree in the space of a month enjoyed by Mr Ngo’o Cyrus.

Sama Ernest with files from Cameroon-info.net