Browsing: Cameroon

resilience and sustainability
  • Cameroon is highly vulnerable to climate change, with risks from recurrent droughts, floods, landslides, and coastal erosion.
  • The funding will play an important role to support the country’s efforts to adapt to and mitigate the impact of climate change and replace more expensive financing.
  • The reform measures under the RSF are also expected to reinforce the growing engagement of development partners and other stakeholders

The International Monetary Fund (IMF) has approved an 18-month arrangement worth $183.4 million for Cameroon under the fund’s Resilience and Sustainability Facility.

The allocation is equivalent to 50 per cent of quota, with disbursements to start when the first review of the arrangement is completed.

IMF highlights Cameroon as highly vulnerable to climate change, with risks from recurrent droughts, floods, landslides, and coastal erosion.

It however says the funding will play an important role to support the country’s efforts to adapt to and mitigate the impact …

West Africa's Hunger Crisis
  • In West Africa, half of the 11.6 million individuals, who were set to receive food aid between June to August, will not get any support.
  • Only about 6.2 million people will get support. They are mainly refugees, displaced individuals, malnourished children under the age of 5, pregnant and breastfeeding women, and girls.
  • Populations at risk as spread across Burkina Faso, Chad, Central African Republic, Cameroon, Mali, Mauritania, Niger, and north-eastern Nigeria.

Millions of people grappling with West Africa’s hunger crisis will not receive emergency assistance between June and September due to limited funding. According to the World Food Programme (WFP), almost half of the 11.6 million individuals, who were set to receive food aid between June to August, will not get any assistance.

The shock revelation comes as WFP and authorities in the Sahel region struggle with the worst hunger crisis in 10 years.

Populations in Mali and Chad will …

Cameroon woos diaspora investors, but faces government is mistrust www.theexchange.africa
  • Cameroon’s President Paul Biya has dispatched a delegation to Europe in an effort to persuade well-off Cameroonians now residing in Europe to invest in their home country
  • The government would grant tax exemptions of up to forty per cent for investments made by members of the diaspora in Cameroon, as well as loans of up to ten thousand dollars with no interest rates for members of the diaspora who return to engage in agricultural and livestock.

 

For the first time, Cameroon’s President Paul Biya has dispatched a delegation to Europe in an effort to persuade well-off Cameroonians now residing in Europe to invest in their home country.

However, members of Cameroon’s diaspora claim that investors are discouraged by the autocratic procedures and corrupt nature of Biya’s government.
According to government authorities, a delegation led by the Minister of Youth Affairs and Civic Education Mounouna Foutsou was deployed to …

Nigeria to export gas through Equatorial Guinea. www.theexchange.africa

The Nigerian Minister also praised Equatorial Guinea, saying that the Western African country has a massive record of world-class gas processing and liquefaction infrastructure already in Punta Europa and allocating investment funds for development.

Minister Obiang Lima said that Equatorial Guinea was in line to be an essential player in the African energy market.

“New, fast, and competitive sources will be a major determinant of success,” he said. “This strategic collaboration breaks down geographical boundaries and allows gas delivery from Nigeria to Equatorial Guinea’s Punta Europa facilities, extending their life and providing access to the regional and global energy markets.”

Through the agreement, the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners will put into monetary use gas that would have otherwise been stranded offshore due to the absence of infrastructure.…

Africa Price for Engineering Innovation entrepreneurs. www.theexchange.africa

The programme will facilitate access to the Royal Academy’s global network of experienced, high-profile and business experts, in addition to access to the alumni network upon completion of the programme.

Moreover, 2022 is the programme’s second consecutive year to render a digital experience, with rigorous support provided through person-to-person and group discussions.

Four finalists will pitch their revised and improved innovations and business plans to the judges in the presence of a live audience.…

The Roumdjé Adjia - Garoua Stadium in Cameroon. www.theexchange.africa

Football fans await the thrill, but what does the competition offer to businesses, football clubs and players, organizers, and the Cameroonian government?

Cameroon has already invested almost US$4 billion in infrastructure. Two new stadia, roads, and modern infrastructure have been built to connect the six stadia that the event will be held. The other four stadia have also been renovated.

The investment has offered short-term employment opportunities to local engineers and labourers, especially the youth, in a country where 40 per cent of the population lives below the poverty line. …

A demonstration of how Saccos grows. Kenya was named as the Co-operative Pulse of Africa. www.theexchange.africa

Deposits formed the bedrock of the source of funding for assets, notwithstanding impacts associated with the pandemic, DT-Saccos were still able to mobilize deposits at a near similar rate as the growth in their assets’ portfolios.
Gross loans increased by 13.16 per cent in 2020 to Kshs 474.77 B compared to Kshs 419.55 B of 2019.
Net loans and advances increased markedly by 12.60 per cent to reach Kshs 450.58 B in 2020, compared to Kshs 400.16 B in the previous year. …

cameroun agriculture

As the number of people demanding food supply has kept increasing since 2015 from 1.1 million to 2.7 million, Cameroon is striving to keep its farming systems updated and strong. According to the Aid and International Development Forum, 57 per cent of the rural people live in poverty.

Cameroon has more than 28 million people and like the rest of other African nations, it is endowed with rich natural resources, including oil and gas, but more importantly, Cameroon has a wide variety of agricultural products, such as coffee, cotton, cocoa, maize and cassava.…

IMF

The Executive Board of the International Monetary Fund (IMF) has approved a three-year arrangements under the Extended Credit Facility and the Extended Fund Facility for the Cameroon for SDR 483 million which is equivalent to about US$ 689.5 million, or 175 percent of Cameroon’s quota to support the country’s economic and financial reform program.

The Approval of the ECF/EFF enables immediate disbursement of about US$ 177.2 million, usable for budget support.

This latest movement follows a Fund emergency support to Cameroon under the Rapid Credit Facility (RCF) totaling SDR 276 million, of about US$ 382 million or 100 percent of Cameroon’s quota.

Cameroon faces significant development challenges heightened by the pandemic. An upsurge in COVID-19 cases since January 2021, has raised concerns about growth prospects and the external and fiscal positions. Additionally, security risks in parts of the country persist. The pandemic could reverse improvements in poverty reduction and development …

Shelter Afrique HQ Drone Image

African Ministers and Heads of Delegation of Ministries in charge of Housing and Urban Development, African Finance Ministers, the Directors and Management of Shelter Afrique, and representatives of international, regional and national institutions, the private sector and civil society, have agreed to enhance mechanisms for the mass production of decent and affordable housing in the continent to achieve social and economic development.

During a three-day summit at the 40th Annual General Assembly of shelter-Afrique that was held in Yaunde Cameroon, the participants resolved to address the challenges that have hindered the efforts to provide decent and affordable housing in Africa.

In a research concluded by the Shelter-Afrique, a pan African housing finance and development institution, shows that the overall shortage of housing in Africa is estimated at 56 million housing units with out of this, more than 90 per cent are in affordable housing bracket.

Photo2 Andrew

The Managing Director …