The Francophone surrogate, Vincent Ndumu Nji has carried out his threats in the Bamenda County by closing shops at the Nkwen market . The corrupt so-called government delegate was quoted by a French newspaper as saying that “The fact that their shops have been sealed is an unexpected setback. The message from the government delegate was not seen as an injunction. So, these traders find themselves caught between two fires. ”

On Monday, August 28, 2017, traders in the Bamenda County in Southern Cameroons kept their shops closed, despite the opening of the main gates by council workers. The merchants respected the calls for the on going civil disobedience campaign in Southern Cameroons and stayed at home.

Cameroon Concord News gathered that the said Ndumu Vincent is now asking the traders to pay the sum of five hundred thousands francs CFA for the council to reopen their shops. One of the traders contacted by CAMCORDNEWS at Nkwen observed that half a million CFA is far above the value of his business center and that the Biya regime is greatly energising the Southern Cameroons revolution and depriving itself from revenue that it badly needs from the Southern Cameroons business community.

Since Tuesday, 29 August, messages of indignation were circulated on social networks. Both sides questioned the attitude to be adopted. For, on the one hand, the ghost towns have been intensified and on the other, the French Cameroun administrative authorities are asking Southern Cameroonians not to respect the Southern Cameroons Governing Council and the Cameroon Anglophone Civil Society Consortium by promising security guarantees.

It should be remembered that at the beginning of the revolution, some traders had attempted to ignore the instructions given by the Consortium which required the closure of all shops. Considered as offenders, these traders were ruthlessly crushed and severely dealt with.

By Eyong Johnson
Cameroon Concord News

The Ministry of Post and Telecommunications in French Cameroun has launched a communication campaign on telephone number portability. Telephone number portability is a system which enables telephone users to switch from one mobile operator to another while maintaining the same phone number.

The Francophone female minister noted that during a month long campaign, the public will be sensitized on how to take advantage of the new system which provides consumers the option to choose the service provider with the best options. This implies that if the consumer changes his service provider, the new service provider needs to incorporate the former number into the new sim card he offers.

The Ministry of Post and Telecommunication affirms that the service is free. It was also revealed that the operation is possible just twice a year and only within a space of at least two months after the first switch.

Apart from helping the consumer maintain the same number, number portability also enables the consumer benefit from advantageous tariffs offered by competing mobile operators. In a nutshell, number portability enhances healthy competition amongst the telephone service providers in Cameroon.

Source: CRTV

Cameroon has suffered nearly 4 billion CFA francs of losses due to financial scam on the Internet according to the Minister of Posts and Telecommunications, Minette Libom Li Likeng. She revealed that 3.7 billion CFA francs of losses have been attributed to bank card fraud.

The Francophone minister also noted that several billions of CFA francs deficits recorded came from “Simbox” fraud and electronic boxes used in charging the international telephone traffic at the price of the national tariff, redirecting and manipulating the international traffic on the Internet.

The same financial damage was caused by intrusions into the information systems of some companies. 12,800 vulnerabilities were detected on government websites including more than 200 cases of usurpation of Facebook profiles and cyber-bulletins and 28 attacks.

Minister Minette Libom further pointed out that 51% of the national Internet traffic volume is tied to illegal downloads. In terms of national solutions to these so-called different threats, Minette Libom Likeng cited the establishment of two cyber security laboratories, the establishment of cyber surveillance and surveillance networks within the public security administrations.

Similarly, a campaign to identify subscribers of telephone networks, begun in 2016 and will soon be strengthened by the establishment of a digital platform for subscriber’s identification and monitoring of electronic communications traffic.

Source: Cameroon Info.Net

Media reports in Cameroon recently hinted of an imminent departure of Ecobank. Messages both audio and written circulated on social networks, appealing to customers of the bank to withdraw their savings before it was “too late”.

The rumor came following a statement from the bank, some ten days ago, announcing the reduction of its staff and the closure of some of its agencies. A strategy already in place in Western Europe and the US aimed to reduce crowding while leveraging evolving digital channels to expand services.

The management of the bank has issued another statement signed this time around by its general manager, Gwendoline Abunaw. The GM in the press release noted that Ecobank is committed to deliver cost-effective, convenient and flexible banking.

Said Gwendoline Abunaw, “We want to tell all our customers that Ecobank continues to attach great importance to its activities in Cameroon. For the last sixteen years, we have been working to expand our business and increase the number of our customers, and we have become the fourth largest bank in the country.

Ecobank is a modern, pan-African, forward-looking bank committed to using digital technology – in our case, mobile banking – to deliver cost-effective, convenient and flexible banking solutions to its customers.

While we are committed to rolling out our digital strategy, we continue to offer our services in our agencies, ATMs and cash points in nine of the country’s ten regions. We would like to sincerely thank our customers for their loyalty. ”

By Sonne Peter with files from Cameroon Info.Net

The review is the annual World Bank Country Policy and Institutional Assessment (CPIA) Africa analysis, which scores the progress Sub-Saharan African countries are making on strengthening the quality of their policies and institutions. CPIA ratings have been used to determine the allocation of zero-interest financing and grants for countries that are eligible for support from the International Development Association (IDA), the concessional financing arm of the World Bank Group.

CPIA scores are based on 16 development indicators in four areas: economic management, structural policies, policies for social inclusion and equity, and public sector management and institutions. Countries are rated on a scale of 1 (low) to 6 (high) for each indicator. The overall CPIA score reflects the average of the four areas of the CPIA. Cameroon is one of the countries in sub-saharan Africa that have improved the quality of policies and institutions (CPIA) in 2016, according to the World Bank report published this month of July 2017.

On the upside, Côte d’Ivoire, the Comoros, Cameroon, Guinea, Madagascar, Mauritania, and Sudan have experienced a modest gain in the CPIA score, with most of these countries showing a stronger performance in the quality of governance. In a few countries, the quality of policies for social inclusion and equity also improved, reflecting a strengthening of safety net programs.

In the company of Côte d’ivoire, the Comoros, Guinea, Madagascar, Mauritania and Sudan, Cameroon scored 0.1 points in comparison with the previous year, which made the country obtain a score of 3.2 out of a total of six points available. The required average of 3.1 points, Cameroon by its performance, remains an eligible country in support of the International Development Association (IDA), the concessional financing window of the World Bank Group.

Published each year, the CPIA report assigns a note to each of the countries eligible for IDA support. The notes of the CPIA, which reflect the quality of a country’s political and institutional framework, consist of 16 criteria in four groups, namely economic management (Group a), structural policies (Group B), policies to combat social exclusion and the promotion of equity (Group C) and the management of public sector institutions (Group D).
In these different categories, Cameroon obtained the following notes: 3.5 points, 3.2 points, 3.1 points and 3.0 points respectively. With a score of 4, Rwanda is once again at the top of the ranking. It is closely followed by the Senegal and Kenya both get 3.8.

Source: Cameroon Info.Net

The Government of Cameroon and that of Chad have signed an aide-memoire with the African Development Bank (AfDB) to extend the railway network linking Ngaoundere in Cameroon and Djamena in Chad. Cameroon’s Minister of Transport, Edgar Alain Mebe Ngo’o chaired the signing ceremony on the 18th of July 2017. The document is in relation to feasibility studies carried out ahead of the construction of the railway linking both cities.

The general manager of Cooperation and Regional Integration, Charles Assamba Ongondo who signed on behalf of Cameroon explained that the three signatories had earlier on, in consultation with the Cameroon – Chad Railway Commission, agreed to carry out studies for the railway. He observed that the board of AfDB will examine the file and decide if they will provide the finances.

For his part, Minister Edgar Alain Mebe Ngo’o opined that the aide-memoire shall be presented in the next board meeting of the Cameroon – Chad Railway Commission. The railway extension is expected to cover a distance of 900km. The project will be financed to the tune of close to 5000 billion CFAF. This will add up to the transport networks linking up Cameroon and Chad.

Source: CRTV

Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB) was received in audience by President Biya on Monday 17 July 2017 at the Unity Palace.

Both men reviewed the 45-year-old cooperation that exists between Cameroon and the AfDB. They also discussed key areas of investment such as energy, agro-industrialisation, and regional integration.

Speaking to reporters at the end of the audience, Dr. Akinwumi Adesina lauded the Commander-in-Chief of Cameroon’s Armed Forces for the support provided towards the preservation of peace and security in north-eastern Nigeria and the Central African Republic.

He also highlighted President Paul BIYA’s contribution in the stabilisation of macroeconomic issues within the CEMAC region, which prevented a devaluation of the CFA Franc.

“I encouraged the President to continue with the effort of microeconomic stabilisation and what the government is doing in terms of diversifying the economy,” Dr. Akinwumi Adesina said. He added that: “the AfDB strongly supports Cameroon. We wish the President and the Government all the best with the plan for accelerated development to a middle income country by 2035.”

President Paul BIYA exchanged gifts with the distinguished guest, whom he later decorated with a medal of Grand Officer of the Order of Valour. The AfDB has invested US$ 2.5 billion (approximately CFAF 1,436 billion) in Cameroon since 1972. The group currently supports 22 projects and there are plans to inject US$ 150 million for the realisation of the Natchtigal Dam.

Culled from the PRC

The Governor of the Bank of Central African State, BEAC – Abbas Mahamat Tolli has assured the population that the current economic situation in the CEMAC zone does not warrant a devaluation of the CFA Franc. Abbas made a comparative analysis of the economic situation that prevailed in 1993, before the January 1994 devaluation with the current 2017 situation and observed that the Central Africa sub region is not on the edge of an abyss.

During a press conference at the Central Bank’s headquarters in Yaoundé, Governor Abbas Mahamat Tolli, pointed out that recent rumour about a possible devaluation of the CFA franc are unfounded. He said in 1993, the growth rate of the sub region was -0.3% far below the 2017 growth forecast estimated at 0.4%.

The investment rate is also expected to reach 23.5% by the end of 2017 as against 18.8% of Gross Domestic Product, GDP before the previous devaluation. Budgetary deficit from commitments, excluding grants stand at 3.5% in 2017 as against 9.7% of GDP in 1993. The rate of external coverage of the currency is stabilized to about 60% in 2017 against 14.8% before the devaluation of 1994. From the estimations of the Central Bank, the absolute value of official reserves is equivalent to 2,800 billion CFA F, representing 2.1 months of imports of goods and services.

The reserves are much more significant compared to the 165 billion in 1993, which barely covered one month of imports. BEAC’s operating account with the French Treasury would be in excess of 2,600 billion francs, whereas at the end of 1993 it had a deficit of 78.6 billion francs. The strong points advanced to dispel rumour of devaluation did not however minimize the current dismal economic and financial performance of the sub region. In the presence of members of the Monetary Policy Committee of BEAC, the Governor acknowledged that the zone has been suffering from deceleration of growth since 2014 which has significantly affected the economic and financial situation.

He however noted that there are glimmers of hope in the horizon as corrective measures have begun bearing fruit. The immediate visible impact is the reduction of public spending from an estimated 7000 billion in 2014 to about 3000 billion in 2017 following the implemented budgetary adjustments programmes by member countries. He added four of the six CEMAC countries have already finalised negotiations with the International Momentary Fund to enforce economic reform programs and financial frameworks that will favour mobilization of external resources with international donors.

Abbas Mahamat Tolli stated emphatically that no objective factor necessitates a monetary adjustment in the CEMAC zone at present. The IMF however has made economic prescriptions in order to stay afloat. According to an IMF statement published on the website, much effort is needed from the CFA franc zone countries to reduce poverty and increase the living standards of their people.

According to the IMF, priority areas include essential public and improve infrastructure, health care, education and job training. Each country needs to uphold good governance by tackling corruption, inefficiency and encouraging accountability. Regional integration within the CFA franc zone countries should be based on mutually beneficial economic ties.

Some African leaders now question the CFA parity with the Euro arguing that it does not allow Africa to develop. Many critics consider that the CFA franc, pegged to a strong euro, hampers the competitiveness exports of raw materials, quoted in dollars or pounds sterling on the main financial centres of New York or London.

Source: CRTV