Business

26, May 2017

Centurion is first African law firm to facilitate an African nation’s entry into OPEC ⁰

Equatorial Guinea’s bid to join OPEC was accepted by unanimous vote at the 172nd OPEC meeting in Vienna on May 25, 2017.

Centurion Law Group was tasked by the EG government to lobby for OPEC membership.
Agreement breaks the mould, with Centurion the first African law firm to facilitate an African nation’s entry into OPEC.

Centurion congratulates the Ministry of Mines and Hydrocarbons for bringing Equatorial Guinea into OPEC, an initiative that demonstrates the massive progress made by the nation since the first oil and gas developments of the 1990s.

At yesterday’s 172nd meeting of the OPEC members, Equatorial Guinea’s Minister of Mines and Hydrocarbons H.E. Gabriel Mbaga Obiang Lima met in a closed session with the OPEC ministers, who voted to accept the country’s application to join the bloc. The Ministry of Mines and Hydrocarbons, which employed Centurion’s advocacy and lobbying services, applied to join OPEC in January 2017 and had its application accepted just four months later.

H.E. Gabriel Mbaga Obiang Lima praised Centurion on its work facilitating the negotiations for Equatorial Guinea to join OPEC: “Our nation, and Africa as a whole, needs more companies that are as committed to our collective progress as Centurion. The Government of Equatorial Guinea commends Centurion and its attorneys for their success in helping our nation join OPEC. Equatorial Guinea now stands tall among energy producers worldwide.”

NJ Ayuk, CEO of Centurion, stated: “The OPEC deal is huge for Equatorial Guinea, a country which advocates for African interests and African prosperity, whether in business or diplomacy. Centurion’s purpose is aligned with that of the country and its government, and we are proud of the role that we have played in bringing Equatorial Guinea into OPEC.”

Equatorial Guinea is, as Centurion has always advocated, a place for innovative energy pioneers. The firm has played an active role in bringing investment to Malabo and facilitating the growth of the energy sector. Key developments have included deepwater oil and gas production, LNG exports, methanol production, CNG public transport, and renewable power. In 2017 the Ministry of Mines and Hydrocarbons is working on keystone projects that include a petrochemicals complex (REPEGE), tank farm (Bioko Oil Terminal) and the finalization of the 2016 bidding round (EG Ronda 2016). Equatorial Guinea’s entry into OPEC provides a new framework for cooperation on these and future energy innovations.

H.E. Gabriel M. Obiang Lima and NJ Ayuk will speak at the Africa Oil & Power conference on June 5-7 in Cape Town, where Mr. Ayuk will also launch his new book, Big Barrels: African Oil & Gas and the Quest for Prosperity.

Powered by Cameroon Concord News Group

16, May 2017

CPDM burglars raid Finance Minister’s Office, Hundreds of millions, Valuables carted away ⁰

A well-placed source has hinted Cameroon Concord News that the Francophone Minister of Finance, Alamine Ousmane Mey reported a burglary in his ministerial department that took place between Thursday the 11^th and Friday the 12^th of May to the police. A security agent who confirmed the incident observed that the alleged burglars made away with several hundreds of millions of CFA francs including several documents classified as “top secrets” in the offices of the Minister and His private secretary.

Camcordnews understands the robbery took place without any breaking-in, an act that raises many questions. A highly placed civil servant at the ministry who spoke to our undercover reporter said many people have been seeking to know if Minister Alamine Mey and his secretary share offices with third parties or whether it is a job ordered by some “rogues” in Etoudi.

A journalist with the state radio and television who contributed to this report also noted that the perpetrators of the alleged burglary are not in the populous neighborhoods of Yaoundé city but are all lined up in the corridors of the Ministry of Finance.

By Sonne Peter

Cameroon Concord News

10, May 2017

African Development Bank to invest on Public Private Partnership ⁰

The African Development Bank has launched a program to promote Public Private Partnership (PPP) Development program in Central Africa. The program on infrastructural development opened in Yaoundé on Monday the 8th of May 2017.

The Director of the African Development Bank for Central Africa, Dr. Ousmane Dori presented numerous financial constraints, faced by African governments. He also noted the importance of exploiting the Public Private Partnership model.

Participants also reflected on other options that can help cover the cost of insufficient infrastructure such as roads, buildings, electricity. Phillippe Genoux, a PPP Consultant said the model will facilitate the financing of projects relieving governments from huge burden.

CRTV

3, May 2017

Biya expected in China ⁰

President Paul Biya will visit China at the invitation of the Chinese President. The information was made public by Wei Wenhua the Chinese Ambassador to Cameroon. It would be Mr.Biya’s sixth trip to a country whose volume of trade with Cameroon now stands at 1, 96 billion US dollars.

Ambassador Wei Wenhua told local newsmen recently that “Despite a gloomy global economic context, Sino-African cooperation is performing well.” He revealed that China was helping Cameroon in constructing the Yaoundé-Douala highway, the Kribi-Lolabé highway and the Bini hydroelectric dam at Warack.

Ambassador Wenhua also pointed out that by removing the visa requirement between China and Cameroon for holders of diplomatic passports; it was a step forward in Cooperation between the two countries.

By Sonne Peter

Cameroon Concord News

1, May 2017

Thousands of Southern Cameroon workers have boycotted celebrations to mark the International Workers’ Day ⁰

Thousands of Southern Cameroon workers have boycotted celebrations to mark the International Workers’ Day. Labor unions in Anglophone Cameroon have often demand better working conditions from La Republique du Cameroun and are presently seeking an independent state of West Cameroon. The International Workers’ Day, also known as the May Day, is marked on May 1 every year.

The rallies around the globe have sometimes turned violent as clashes erupt between people and police forces. The Bamenda city of Southern Cameroons was the scene of such rallies today Monday, when a group of pro La Republique workers attempted to defy a ban by the Cameroon Anglophone Civil Society Consortium and march to celebrate the day. The Consortium authorities have banned labour day celebrations in Southern Cameroons.

In Buea, CPDM workers assisted by security forces from French Cameroun made their way into the ceremonial ground backed by the controversial mayor and governor of the South West region and staged a pro government event. Kumba was also the scene of boycott, with a handful of civil servants gathering at the BICIC junction pretending to be celebrating.

Manyus and Moghamos including the Balis also held rallies in their respective administrative units carrying banners that read, “For an Independent Southern Cameroon State.”

By Rita Akana

Camcordnews

29, April 2017

Ecobank Cameroon: Gwendoline Nzo-Nguty is new Executive Director ⁰

Gwendoline Abunaw Nzo-Nguty is the new Executive Director of Ecobank. After a long experience in finance the Cameroonian now finds herself at the head of the bank.

In 1998, Gwendoline obtained a Bachelor of Science (BSc) in Banking and Finance from the University of Buea in Cameroon. Later in 2003, at the London Metropolitan University in England, she received an MBA in Finance and the Barclay’s Bank Award.

Gwendoline Abunaw began her professional life in August 1998 as an information analyst at the Credit Administration Department at Standard Chartered Bank in Cameroon until August 2001. She returned from London in 2003 and joined Ecobank Cameroon for the first time as Account Manager in the Department of Large Enterprises for a year.

In 2004, she became an account manager at Citibank. Through her hard work and determination she became manager of the senior accounts. A position she held until January 2011. In February 2011, she joined Ecobank Cameroon this time as Director of Large Enterprises. Gwendoline Abunaw was appointed to the Board of Directors of Ecobank Cameroon in May 2014 and was confirmed as Director of Grandes Enteprise for Cameroon and the Cemac area.

This rich financial pathway was rewarded in July 2015 by a promotion as deputy general manager of Ecobank Cameroon. Less than two years later, Gwendoline Abunaw is now the lead of this financial institution in her country.

Source: MAG WP

25, April 2017

Camair-Co tug-of-war: Biya Beti Ewondo gang in control ⁰

President Biya has finally joined forces with his kinsman, Edgar Alain Mebe Ngo’o the Minister of Transport and gotten rid of the Chairman of the Board of Directors of Camair-Co Mefiro Oumarou. The emergency Camair-Co board meeting yesterday in Yaounde recorded a dramatic and an incredible turnaround situation.

State radio and television including other independent media sources announced the sacking of the general manager, Ernest Dikoum and later on information was made public that he was retained by members who attended the Hilton Hotel forum in Yaoundé. The Biya Beti Ewondo surprise came where it was least expected.

Mefiro Oumarou, the Chairman of the Board of Directors, was disembarked only eight months after his appointment and was replaced by Louis Georges Njipendi. The latter appointed by presidential decree, was immediately installed by Edgar Alain Mebe Ngo’o, Minister of Transport. Thus, in the quarrel between the former Board Chairman and the Minister of Transport over the management of the recovery plan of Camair-co, Paul Biya decided in favor of the Minister Edgar Alain Mebe Ngo’o.

By Chi Prudence Asong

21, April 2017

What effects did internet sanctions have on Southern Cameroons ⁰

The Biya Francophone regime now has the record for the longest Internet shut down on the African continent. Southern Cameroonians were deprived of internet for 93 days following a decision by the Yaoundé regime on the 17^th of January 2017. The Francophone political elites wanted to prevent the circulation of images showing army and police brutality against lawyers and students in the Anglophone section of the country demonstrating since November 2016.

The 84 year old butcher of Yaoundé lifted the internet ban on Thursday the 20th of April 2017 after fingers were raised in the United Nations, Internet Without Borders including an action from the famous American computer scientist, Edward Snowden. The decision to shut down the internet demonstrated a frightful and unloving attitude towards the Anglophone community who are now seeking an independent state of Southern Cameroons.

The disconnection caused enormous disturbances and pains and will of course have far reaching political consequences for Cameroon as a nation. Anglophones clustered on the Moungo Bridge because at that point smart phones were able to connect to internet signals that came from French Cameroon. The same situation was visible at Mbounda in the West region.

Economically, the losses have been enormous and companies based in these two regions of the country have been completely and totally destroyed. “We came back to the Stone Age. In the absence of the connection, we were obliged to physically transport our data on CD or USB stick. One of the executives of the Cameroon Development Corporation (CDC) lamented.

The banks whose servers were mostly installed in Douala and Yaoundé were the most hit. Some of them did introduce new procedures including the use of the telephone while others invested in the acquisition of V-Sat- a means of satellite communication. So many young start ups including Silicon Mountain all witnessed three months of inactivity.

The inevitable decline in business turnover has also inevitably impacted on the taxation department. These large contributors to the Yaoundé regime’s budgetary revenues had paid CFAF 617 billion of taxes and duties over the period 2010-2014. With the introduction of a new tax on telephone communications and internet services in 2016, the government was planning to increase this pool. The poor handling of the Anglophone crisis and the internet shut down is likely to thwart these expectations.

By Rita Akana and Fru James

Cameroon Concord News

19, April 2017

Camair-Co to acquire 2 new Boeing A180 ⁰

Two new Boeing A180 aircraft will be acquired by Camair-Co for the purpose of strengthening its fleet. Edgard Alain Mebe Ngo’o, the Francophone Minister of Transport who has been hiding ever since the Eseka train disaster will today Wednesday in Yaoundé sign a contract with the partners of Cameroon, for the final acquisition of the two new aircraft, as part of the national airline’s recovery plan.

Since its creation, just over six years ago, the Camair-Co has been shaken by corruption, fraud and management problems that have paved the way for negotiations to adopt a recovery plan for the company. The numerous financial scandal that has rocked Camair-Co was debated in National Assembly during the last session.

Edgard Alain Mebe Ngo’o told parliamentarians that the state was ready to inject 60 billion FCFA for the re-launch of Camair-Co. In recent weeks, the airstrips of the Douala airport have been redesigned in view of the relaunch of the national airlines carrier.

8, April 2017

Southern Cameroons Crisis: Internet shutdown costs Cameroon 2 billion FCFA ⁰

French NGO Internet Without Borders has reported that in 60 days, the Internet cut in Southern Cameroons has cost 2.69 million euros or nearly 2 billion FCFA to the Cameroonian economy. The international body also did observe that Southern Cameroons internet shutdown is one of the longest recorded in Africa. Mobile operators, including Orange and MTN were ordered by the Francophone regime to suspend Internet services in the English part of the country.

The situation has been more detrimental for Southern Cameroons entrepreneurs and has completely destroyed the development of a significant number of digital start-ups. Young businessmen such as Churchill Mambe, Njorku, based in Buea, drives everyday to Bonako-a small village in French Cameroon to be able to have access to internet.

Cameroon Concord News understands the Internet cuts have also had a negative and direct influence on national and regional economies, thus delaying progress towards the achievement of development objectives. Financial experts say the cuts present significant risks to investors in the provision of fixed and mobile network infrastructure and that some investors have opted to leave Cameroon. The Minister of Telecommunications, Minette Limbo Li Likeng has maintained a kind of deliberate silence on this recent revelation.

By Fru James