For all intents and purposes, Cameroon is not known as a key mining destination. However, I believe that AIM-listed Oriole Resources’ first mover advantage could unlock the country’s true gold potential.

Last week Oriole received five new exploration licences in central Cameroon via its 90%-owned subsidiary, Oriole Cameroon. The licences, together with a further three new licences granted to Oriole’s partner, Reservoir Minerals Cameroon.

This represents a contiguous, district-scale land package covering 3,592 km2 of gold-prospective terrane in central Cameroon. The licences have an initial three-year term of a possible total nine years tenure.

Oriole is already involved in more advanced exploration programmes currently ongoing at the Bibemi and Wapouzé projects in the north of the country. Now, the new licences will expand the company’s operational base in Cameroon.

Favourable signs of promise

Oriole’s CEO, Tim Livesey, said, “As first movers in Cameroon, and with further advanced exploration ongoing at our Bibemi and Wapouzé projects in the north of the country, we are extremely pleased to have received formal approval for these additional new licences.

“Based on our in-house prospectivity analysis in 2019, this district-scale grassroots licence package was identified as having significant potential to host orogenic-type gold mineralisation. Key geological attributes of the district include suitable host rock geology, a favourable structural location covering deep crustal structures, and historic evidence of gold mineralisation. We believe that this contiguous package of nearly

3,600 km2, offers exciting Greenfield potential and we look forward to commencing our first-pass exploration programmes during the first half of the year.”

Cameroon’s mineral potential remains vastly untapped. These resources include gold, bauxite, cobalt from lode deposits, granite, iron ore, nepheline syenite, nickel, and rutile. For decades mining has never been a key area of focus. Positively, now green shoots are starting to emerge as companies are looking to start mining in the country.

Oriole’s current position puts it ahead of the curve and I will be closely watching developments unfold in the coming months. Could Oriole be the key that finally unlocks the country’s true gold potential?

Source: Mining Review

Despite receiving support from international institutions, Yaounde recorded its worst economic performance in two decades.

With negative growth likely when the statistics come in for 2020 – -1.2% compared to a previously predicted 4.1% – the country is expected to record its worst economic performance in the last two decades.

This is a trend that Yaounde wants to work to reverse in order to stop the recession. The task promises to be difficult in a climate marked by successive falls in oil prices, the halt in growth kinked to the African Cup of Nations’ infrastructure projects and the ongoing Covid-19 pandemic.

The only positive aspect of this unfortunate situation is that Cameroon continues to receive support from international institutions. With debt around 40% of GDP, international partners – such as the IMF – strongly supported the country in 2020, while praising its economic discipline.

Infrastructure and industrialisation

In the medium term, Cameroon plans to use its Stratégie Nationale de Développement 2020-2030 – unveiled in mid-November 2020 – to set a new course. It was conceived after the previous plan – the Document de Stratégie pour la Croissance et l’Emploi – failed.

President Paul Biya announced that industrialising the country would be of the utmost priority – which has been put temporarily on hold while the master plan of industrialisation is updated – as it could help stimulate economic growth.

THE RACE TO TRANSFORM

These advances should enable Cameroon to continue its preparations for the Africa Cup of Nations football tournament, which it will host in 2022. The building of infrastructure, which was at a standstill for a while, has made considerable progress. In addition, the African Nations Championship, reserved for local players and held in January on already operational sites, served as a trial run.

The Anglophone crisis is still raging

Finally, one remaining question: will the long-awaited decentralisation programme be successful? In early December, regional elections – which were won overwhelmingly by the ruling Rassemblement Démocratique du Peuple Camerounais – were held, but they are unlikely to put an end to the conflict between Yaounde and the English-speaking separatists of Ambazonia.

Re-elected for a seventh term in 2018, President Paul Biya has still not managed to resolve the Anglophone crisis raging in the South-West and North-West regions.

Culled from Africa Report

French Cameroun Beti Ewondo political dinosaurs have been in the way of realizing La Republique du Cameroun’s dream of economic prosperity.

For 38 years, Biya and his Beti Ewondo kinsmen and women have spent the resources of the two Cameroons not on development but antidemocratic means to stay in power.

Correspondingly, the new chairman of the Camair-Co board is Mauger Ayem, who is currently a technical advisor at the presidency of the republic. He is very close to the omnipotent minister secretary-general Ferdinand Ngoh Ngoh.

Mauger Ayem’s appointment is a pointer to the fact that despite huge deficits in education, gender equality, health care, security and economic competitiveness in the two Cameroons, the majority of French Cameroun political elites remain preoccupied not with formulating genuine plans for improvement but strategizing antidemocratic ways to ensure their perennial hold on power.

Even after the arrest of Minister Edgar Alain Mebo Ngo’o, Cameroon Intelligence Report can now reveal that the Biya family dynasty is still dominating in Yaoundé.

By Chi Prudence Asong with files from Soter Agbaw-Ebai

Cameroon Concord News Group made some key points to the ruling CPDM crime syndicate when the disgraced Minister of State in charge of Transport Edgar Alain Mebo Ngo’o announced that renovation work had been completed at the Douala International Airport.

We asked if a neutral government body had gone to inspect the work done at the Douala International airport. What was replaced during the one month period of work? How much did it cost the Cameroonian task payer?  Was the Minister of Transport Edgar Alain Mebo Ngo’o ready to vouch for the safety of the airport? And we concluded that with regard to that operation and money spent, the nation needed an independent assessment.

We told the world that the same was true with the national carrier Camair-co. But because the French Cameroun dictator Paul Biya heads a government that no one takes responsibility, no one apologize and no one resigns, Yaoundé kept on appointing new managing directors of Camair-co. To be sure, Louis-Georges Njipendi Kouotou successfully became the seventh managing director of Camair-co in recent times. 

Louis-Georges Njipendi Kouotou and six others grounded the national carrier. Camair-co ever since President Biya and his Beti Ewondo kinsmen and women took over became short of viable planes. The situation grew from bad to worse and forced to travel by road for want of available Camair-Co aircraft, three French Cameroun government ministers ended up in a river. The accident again placed the national carrier’s management in a bind.

Despite the Covid-19 pandemic, which has grounded aircraft all around the world, Yaoundé has been actively seeking a consultancy firm to help it to develop the country’s civil aviation industry destroyed by President Biya and his gang.

Recently, Camair-co managed to get back in the air with a plane hired from Ukraine but our senior economic reporter in Douala confirmed late on Monday that Camair-Co’s future is sealed: the government is making plans to privatise 51% of the national carrier.

By Rita Akana in Yaounde

During the extraordinary general meeting held on December 16, 2020, the shareholders of Messapresse ruled in favor of the premature dissolution and the liquidation of the company which is the main newsagent in Cameroon. This decision follows a suggestion submitted by the administrative board during a meeting held barely a month earlier (November 30, 2020).

According to the official release published in that regard, the decision was prompted by the losses (estimated at XAF1.3 billion) being accumulated by Messapresse for six years now. This decision occurs barely one (1) year after the newsagent restarted distributing local newspapers in September 2019. Indeed, two years earlier, the company had stopped distributing such newspapers after French group Presstalis (the majority shareholder in Messapresse) decided to withdraw from the distribution of Cameroonian newspapers, 80% of which it claims are unsold. 

When Messapresse decided to relaunch the distribution of local media, it did so without the expertise of Presstalis (that supplies it with foreign newspapers distributed in Cameroon). Also, some news companies had launched their distribution networks (after Messapresse stopped the distribution of local newspapers in 2017). They include state-owned media Cameroon Tribune and various private media. For Messapresse’s management, these distribution networks also contributed to the dissolution decisions.

Source: Business in Cameroon

The United Kingdom and Cameroon have today secured an Economic Partnership Agreement (EPA) that ensures mutual continuity of trade.

An agreement has been reached to roll over current EU-Cameroon trading arrangements from 1 January 2021.

The deal allows businesses to trade freely as they do now, without any additional barriers or tariffs, and provides a foundation to extend our trading relationship in future.

Total UK trade with Cameroon amounted to £200 million in 2019.

Top goods imports to the UK from Cameroon in 2019 were in fruit and nuts, mostly bananas (£27 million) and wood and wood products (£25 million). The UK market accounts for 12% of total exports of bananas from Cameroon and this agreement will maintain tariff-free market access to the UK. It also guarantees continued market access for UK exporters, who sold £51m in goods to Cameroon in 2019.

Minister for International Trade Ranil Jayawardena said:

The United Kingdom is committed to supporting developing countries by encouraging growth through trade. The preferential terms for their key exports, such as bananas, will support jobs and economic development in Cameroon, and make sure British consumers get the products they want.

Culled from www.gov.uk

The effects of the unfavourable economic situation in Southern Cameroons continued to be felt on customs revenue with declines of 39.3% and 93.8% respectively in the Southern Zone (excluding SONARA) and Northern Zone.

This is contained a 2019 report released by the Cameroon Customs Department. The report also pointed out that the Southern Cameroons crisis has impacted the Economic Partnership Agreement (EPA) between the European Union and Cameroon and has greatly affected trade between Nigeria and Cameroon.

According to the customs administration, the crisis is disrupting Nigeria’s imports from Cameroon such as rice, cocoa, eru, rubber, maize, cassava and plantain tubers, as well as chilli peppers including mangoes while Cameroon’s import of spare parts and electronic products has also been brought to a standstill.

The Cameroon Customs report also noted that trucks no longer circulate freely, especially on the Bamenda-Enugu trade route.

The customs authorities indicated that the Economic Partnership Agreement (EPA), implemented since 04 August 2016 which provides for the dismantling of tariffs between Cameroon and the European Union has also led to tax losses of CFAF 7.7 billion in 2019 against CFAF 4.3 billion in 2018, an increase of 78%.

As a reminder, this agreement enshrines the opening of the Cameroonian market to 80% of imports from the European Union in three stages corresponding to three groups of products.

By Rita Akana in Yaounde