Cameroon | Infrastructure, Economy and Business thread

[BUTEMBO21]

Yeh, really weird how they suddenly starting to get projects , important projects (Roads, Rail, Power),

[ngantsop]

Originally Posted by BUTEMBO21

Yeh, really weird how they suddenly starting to get projects , important projects (Roads, Rail, Power),

Because we have initiated a phase of economic recovery after years under structural adjustment plan that has been imposed by the Bretton-Woods institutions following the economic crisis that hit our country since the 80 !

The majority of these projects were in the drawers and could not be implemented due to lack of funding and the weight of a heavy foreign debt. But in 2006, Cameroon reached the completion point under the HIPC initiative and received the surrender of much of its debt.

Today we can look to the future although there have yet many things to do

[ngantsop]

Douala-Yaounde highway: The European Union is contesting the choice of China

The Delegation of the European Union in Cameroon believes that adequate preparation on the technical, legal and financial, necessary for the success of such projects, has not been made. Which could affect the performance of the project.

The statement released by the European Union July 6, 2012 is almost a boast to diplomatic formulas. He is not fooling anyone anyway. Europeans are frustrated, ultimately, dissatisfied, Cameroon has finally chosen on the Chinese as the main partners for the construction of the Yaounde-Douala highway.

In his epistolary output, signaling his disappointment, the Delegation of the European Union (eu) in Cameroon also considers that the "rumors" distilled by the press are unfounded. Because, since last April, the media in Cameroon revealed that the proposed construction of this highway was torpedoed at the Presidency of the Republic by public figures who supported the Europeans' rather than others.

The EU recognizes that following a request from the Cameroonian government, she had responded favorably to a request for 2011 funding of the "feasibility study" of the highway in question.

The Europeans had suggested that a "subsidy" of Shs 1.64 billion for a pre-feasibility and feasibility, which also included the preparation of a tender within two years, in order to support Cameroon in "an informed choice, consistent and relevant" to the implementation of an optimal solution interconnecting motorway.

At the same time, reassured the Chinese that the laying of the cornerstone of this work could be done in December 2012.

Reading between the lines, it is understandable that the choice of China by Cameroon is considered by the European side as hazardous. Since Ue believes that the country of Paul Biya has not sufficiently matured the project.

The Ue believes that the preliminary studies required for the optimization of such projects have not been made. "In general, whatever the choice of funding, all funding must be preceded by studies that allow a reliable and optimized total cost of the project.

A complex and extensive as the highway construction presupposes adequate preparation of the technical, legal and financial, necessary for its success, "we read in the press delegation of the eu in Cameroon .

Thus, Cameroon would have rushed by the choice of China.

Hence the risk of this project never be realized, or at least, not be performed as needed. However, China seems committed to support Cameroon in this great project-as in many others elsewhere, and this has materialized on June 27. The two countries signed an agreement in effect on the financing to the tune of 241.1 billion CFA francs.

Funds made available by Exim bank of China. An agreement which had also been long overdue, since it is in March that China had finally agreed to this line of credit. And work will be conducted by the Chinese company China first highway engineering.

One might therefore understand the anger (or at least disappointment) of Europeans who would "market" escapes. Hence the output considered by many observers of this issue as a symbolic gesture. In all cases, the authorities in Cameroon have made a choice: China.

Hoping it will not be detrimental to the project. As for the Delegation of the European Union, it is now clear: "The Cameroonian authorities have finally chosen a different approach," she wrote in a statement, before concluding, "the Delegation of the European Union Cameroon fully respect this decision and wish for the success of this important project, convinced that the authorities have at heart to continue efforts to promote the emergence of a favorable investment climate. "

The Messenger via Cameroonvoice

translation from french with google translate

http://www.cameroononline.org/2012/0...x-de-la-chine/

[ngantsop]

MIGA issues $6.5m guarantee for internet project in Cameroon

The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees of $6.5 million for a project which will establish a wireless network to deliver internet broadband services in three major cities in Cameroon.

MIGA granted the investments for the subsidiary of 4G Africa AG of Switzerland, HTT Telecom S.A. in Cameroon, which will execute the project.

“The coverage is for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance,” said MIGA.

The project is expected to improve broadband internet provision in Cameroon’s main cities – Douala, Yaoundé, and Edéa and will lower internet tariffs as well as increase service reliability and availability in that country.

Ghana Business News

http://www.cameroononline.org/2012/0...t-in-cameroon/

[ngantsop]

The Lagdo dam will be renovated

The MOU was signed there on last Friday in Yaounde.

There are twenty years (1978-1984), the International Water and Chineese Electric Corporation (CWE) built the hydroelectric dam Lagdo, about fifty kilometers from Garoua, northern regional capital.

Today, the infrastructure has grown older and requires refurbishment. The government has decided to again trust this company. A memorandum of understanding business thereof was signed last Friday by Basile Atangana Kouna, Minister of Water and Energy, and Huiwen Jiang, CEO of CWE.
Basically, it comes to the recovery of energy resources of the basin of the Benue.

Specifically, he is the refurbishment of the dam Lagdo and preliminary design study for the development of a similar work on the river Faro, always in the northern part.

According to Basile Atangana Kouna, this project falls in line with the policy of absorption of energy deficit, instructed by the President of the Republic. "We hope the funds are rapidly mobilized to the project to be realized as soon as possible," he said. The ambition is also to export the energy produced in Cameroon to neighboring countries.

If cost is not yet decided, "because the financial evaluation is in progress", explains the Minister, the Chinese ensure that turnaround times will be respected. "The work will be delivered in the very near future, according to the schedule annexed to the MOU," said Jiang Huiwen.

The Lagdo dam, built on the Benue and consists of four turbines with an installed capacity of 72 megawatts, supplies electricity not only in northern Cameroon but also a part of the South. The dam is 297 m long, 40 m high, 9 m thick and was inaugurated on 29 November 1986 by President Paul Biya.

The perimeter of the river basin was declared agricultural area. It allows the irrigation of 15,000 ha of various crops (millet, rice, corn, vegetables, etc..). This is also the site of intense fishing activity.

translation from french with google translate

http://www.cameroononline.org/2012/0...o-sera-renove/

[ngantsop]

Real Madrid open football academy in Cameroon

The Real Madrid Foundation will be launching its Madrid Rumbo al Sur project in Cameroon this week, which consists of inaugurating and equipping a football academy in the country

Real Madrid

A team from the Real Madrid Foundation will be sojourning in Cameroon this week to round off a football academy project by providing educational and sports material for children in the country.

The seventh edition of the Madrid Rumbo al Sur project was presented on June 29 at the Santiago Bernabeu Stadium, announcing that the Real Madrid Foundation will donate sports and educational material for students in its Cameroon academy, which is near completion.

Officials said the main objective of the project was to educate and instill values such as cooperation for development, voluntary work and sensitivity.

More than 100 children from Madrid will travel to Cameroon to learn about over a dozen collaboration initiatives in the country, the foundation said in a statement.

Classes will open early September at the football academy, officials of Cameroon sports ministry have confirmed.

“This project’s values are the same as those of the Real Madrid Foundation, which educate children aged between six and 18. Participating in this initiative fills us with great satisfaction,” Enrique Sanchez, executive vice president of the Real Madrid Foundation said in a statement on the club’s official website.

“The children that will go to Cameroon will experience values such as compromise and solidarity, which we stand by at our foundation,” said Miguel Pardeza, Real Madrid football director.

“They will also visit the academy in the city of Yaounde, where we will try to educate children in dire straits. This is why the collaboration of these children from Madrid is so important to this project,” he added.

Goal.com

http://www.cameroononline.org/2012/0...y-in-cameroon/

[ngantsop]

Management of C2D: Côte d'Ivoire comes to learn in Cameroon

(Invest in Cameroon) - Ivory Coast wants to know more about the management system set up by Cameroon as part of debt reduction and management of the Contract (C2D). An Ivorian government delegation led by Leah Frances Djatti Amoin, Special Advisor to the Ivorian Prime Minister stays in Cameroon from 5 to 13 July 2012. Ivorians are to learn and see how Cameroon has negotiated and executed projects C2D, a program signed between Cameroon and France in 2006 after reaching the completion point under the HIPC initiative.

"Cameroon has received funding from the C2D in recent years in the areas of infrastructure, education and health. We are here to find out what worked and what did not work, to profit by the example of Cameroon. Because we will have the same program, "said Frances Lea Djatti Amoin Friday to the press.

Indeed, Cote d'Ivoire reached the completion point of the initiative "Heavily Indebted Poor Countries" (HIPC) in the economic and financial program 2012-2014. The World Bank and the International Monetary Fund (IMF) announced June 26, 2012. The country will receive debt relief of over $ 4.4 billion.

"The IMF and the International Development Association (IDA) of the World Bank approved a reduction of 3.1 billion U.S. dollars (1.55 trillion CFA francs) debt of Côte d'Ivoire under the the HIPC initiative, which represents a 24% reduction of external debt, more relief $ 1.3 billion Eu (750 billion CFA francs) in respect of relief initiative Multilateral Debt Relief Initiative (MDRI), "the statement said the World Bank.

Last Friday, his delegation met with ministers of Cameroon in charge of Finance and of Economy. She will also visit the sites of projects funded and accomplishments C2D. During the visit the delegation will be imbued with the contours of the discussions with France. And this is the technical secretariat of C2D in Cameroon to be their guide.

In Cameroon, the first C2D a total of 352 billion CFA francs signed June 22, 2006 ended April 27, 2011. It involved four components: Education (59 billion CFA francs), Health and the fight against AIDS (59 billion CFA francs), Road Infrastructure (150 billion CFA francs) and Agriculture and Food Security, including NPPD and FESP (61 billion FCFA). Some cross-cutting sectors have also benefited from funding from the C2D in 2008. It is the Department of Scientific and Technical Research and the Ministry of Culture.

The second C2D for 2011-2016, which represents about 213 billion CFA francs will focus on agriculture and rural development, urban development and infrastructure, professional training and finally the pilot projects and studies.

According to Justine Dongmo, the coordinator of the Technical Secretariat of C2D in Cameroon, "30 June 2012, the implementation of the second C2D runs without major problems." But, it was suggested that if the projects to be funded are in principle chosen by the beneficiary countries themselves C2D, discussions with the French side to validate a project may be hard.

BOD

translation from french with google translate

http://www.investiraucameroun.com/ai...re-au-cameroun

[popa1980]

Originally Posted by BUTEMBO21

Yeh, really weird how they suddenly starting to get projects , important projects (Roads, Rail, Power),

It is bizarre. Maybe the President is actually a cloned robot and the real is being kept prisoner somewhere.

Cameroon could really be one of the most amazing countries in Africa- they have some of the best beaches outside of East Africa, rainforest, savannah, mountains, semi-desert, wildlife, oil, solid minerals, varying climatic zones (they can grow temperate crops in the Highlands) AND English-French speakers.

[ngantsop]

Originally Posted by popa1980

It is bizarre. Maybe the President is actually a cloned robot and the real is being kept prisoner somewhere.

Cameroon could really be one of the most amazing countries in Africa- they have some of the best beaches outside of East Africa, rainforest, savannah, mountains, semi-desert, wildlife, oil, solid minerals, varying climatic zones (they can grow temperate crops in the Highlands) AND English-French speakers.

ah ah ah....!!!!!

[Naijaborn]

How about some pictures??

[ngantsop]

SNH, Perenco Sign Terminal Purchase Deal

National Hydrocarbons Corporation (SNH), the Cameroon’s state oil company, and Perenco have signed an agreement to purchase a floating crude oil storage and loading terminal in the Rio del Rey basin by November this year.

National Hydrocarbons Corporation (SNH), the Cameroon’s state oil company, and Perenco have signed an agreement to purchase a floating crude oil storage and loading terminal in the Rio del Rey basin by November this year.

The terminal, named “Massango”, with a capacity of 1.87 million barrels, will replace two ageing ones whose technical exploitation will end in December. It will enable companies operating in the basin to save some 225 billion CFA francs ($450 million) over the next 15 years.

It shall be operated by Cameroon Oil Terminal S.A. (COTSA), a company set up by the two parties last month in which Perenco owns 51 percent of the shares, SNH owns 44 percent and its new partner Two Square Shipping (owned by the Swiss-based firm ABC Maritime Group) has 5 percent.

According to SNH managing director-general Adolphe Moudiki, the Rio del Rey basin currently produces 90 percent of Cameroon’s crude oil.

Cameroon became a modest oil producer in 1977, with output peaking at 185,000 barrels per day (bpd) in 1986. It has since then declined to 63,211 bpd in 2011 but will shoot up to 90,000 in 2012, thanks to the reopening and optimizing production of some matured wells by Perenco that took over Total E&P in 2011, and the coming on line of two new ones.

“This result is attributable to the changes that occurred in the upstream petroleum industry,” he said, adding the changes resulted in the takeover of Total E&P Cameroon’s assets by Perenco.

“In fact, after it became the main operator of national oil production in April 2011, Perenco has reopened some wells and implemented pertinent operations to optimize fields in the Rio del Rey concession. This has entailed an additional production of 10, 418 bpd, without supplementary drilling,” he said.

“Meanwhile, there were similar operations by Addax, which took over from Pecten, on some wells in Rio del Rey and Douala/Kribi- Campo basins, raising production from around 3,000 to 5,000 bpd,” he said.

“At the same time, two new oilfields (Dissoni North) will come on line with a production of 17,000 to 20,000 bpd. All these should increase total output to 90,000 bpd by the end of this year, ” he added.

Despite the sharp drop, crude oil remains the country’s leading export product, accounting for 39 percent of exports and about 45 percent of foreign exchange earnings.

CRIENGLISH.com

http://www.cameroononline.org/2012/0...purchase-deal/

[ngantsop]

Originally Posted by Naijaborn

How about some pictures??

It s very hard to find pictures of all these related projects here on the internet. But in local newspapers and national tv channels they show evolution of these projects...

I'll try my best to post some pictures...!!!

[ngantsop]

Cameroon aim for a growth rate of 6.7% in 2013

(Invest in Cameroon) - President of the Republic, Paul Biya, signed July 9, 2012 a circular setting out broad guidelines for fiscal policy and the practical arrangements to be considered by the Ministry of Finance for the project development of the state budget for fiscal 2013.

According to Paul Biya, the draft state budget for fiscal 2013 will be based, among others, on the assumption of an overall real growth rate of gross domestic product by 6.7% against the 5.5% target this year 2012.

To achieve this, the president does not think only to the acceleration of major projects, but also the revitalization of other promising sectors for growth. Paul Biya prescribes also the increase in the share of public investment in the state budget, the increase in exports to consolidate the trade balance, control of imports at the same time that local production of imported commodities is stimulated, the implementation of the second generation of agriculture through intensification of agricultural mechanization and the use of high yielding inputs and the processing of agricultural products to ensure food security; the diversification of means of financing the economy, improving public financial management through a public expense of quality and a sound revenue collection, improving economic governance, the promotion of high intensity approach labor (HIMO), or sub-contracting and employment.

B-O.D.

translation from french with google translate


http://www.investiraucameroun.com/ec...de-6-7-en-2013

[ngantsop]

Cameroon: Paul Biya will lay the foundation stone of the hydroelectric dam Mekin

Agency (ECOFIN) - An inter-ministerial delegation led by Minister of Energy and Water, Basile Atangana Kouna, visited Mekin in the South last Wednesday to assess the installations that will host the ceremony of the laying of the foundation stone of the hydroelectric dam Mekin.

"The Civil Cabinet has instructed us to come to Mekin will host the ceremony of laying the first stone," said Basile Atangana Kouna to Cameroon Tribune.

The Minister of Energy and Water and Louis-Paul Motaze, the secretary general of the Prime Minister has asked Hydro-Mekin, the project owner, to change the site of the rostrum. "You have a site that would allow the master of ceremonies to see the work already done," said the minister.

According to the Ministry of Energy and Water, the hydroelectric dam Mekin will help secure the southern part of the south interconnected network. It will also feed primarily all eight communes of the Dja and Lobo. Eventually, the dam could provide the electrical interconnection with neighboring countries of Cameroon.

Foot plant with a capacity of 15 MW and an evacuation line energy of 33 km along Mekin, at a place called Ndjom Yekombo (interconnection station to RIS), will be built.

On site, the work of the dam is already being made to 40% by China National Electric Engineering Co Ltd (CNEEC). Completion of the work is set in November 2014. A contract worth 25 billion FCFA was signed in January 2010 with the Chinese company.

The dam is 85% funded by China and around 15% by the Cameroonian.

translation from french with google translate

http://www.agenceecofin.com/electric...rique-de-mekin

[ngantsop]

Another hydroelectric dam underconstruction in CAMEROON

[Akwafinaa]

pictures pls

[ngantsop]

Cameroon Records FCFA 1,076 Billion in Trade Deficit in 2011

The technical committee examined the report in Yaounde last Friday July 20

According to Cameroon’s 2011 Balance of Payment report presented for scrutiny by its technical committee last Friday July 20, it emerged that the country continues to sink in its import-export behaviour. The report shows that in 2011, the country’s trade balance (difference between imports and exports) aggravated in its perennial deficit, hitting FCFA 1,076 billion (about 86 per cent).

Oil exclusive, the deficit stands at FCFA 1,367 billion far above FCFA 880 billion of 2010. This is explained by heightened importation of machines and other electronic gadgets as well as cereals. “Before, trade balance was positive and balance of service negative.

For the past years, all have been negative and the overall performance is negative. The deficit means we spend more than we have foreign earnings. We should produce and export more,” Lazare Bela, Director of Economic Affairs in the Ministry of Finance, said.

Imports

The country, the report shows, imported 13.6 million barrels of crude oil to the tune of FCFA 764.5 billion in 2011 as against 15.2 million barrels for FCFA 607.2 billion in 2010. The importation of machines and other electronic gadgets deepened the country’s trade balance by 34 per cent, moving from FCFA 351 billion in 2010 to FCFA 471 billion in 2011.

Other products that drained the State of hard-earned resources included rice wherein 507,388 metric tonnes were imported to the tune of FCFA 135 billion in 2011 as against 366,483 metric tones for FCFA 97 billion in 2010. Fish importation in 2011, by the report, increased by 59 per cent, moving from FCFA 98 billion in 2010 to FCFA 148 billion in 2011.

Exports

Exportation moved from FCFA 1,924 billion in 2010 to FCFA 2,134 billion in 2011, representing an increase of 11 per cent. This resulted from oil sales, crude cotton, rubber and palm oil. Other products that also fetched foreign earnings for the State in 2011 include fresh banana, coffee and cocoa.

But what they brought in is far less than what government spent in imports, reason why the trade balance is largely negative.

Direct Foreign Investment

Foreign capital in enterprises here that was either ploughed back into the economy or not distributed to shareholders moved from FCFA17 billion in 2010 to FCFA 223 billion in 2011.

Cameroon’s direct investment abroad moved from FCFA 18 billion in 2010 to FCFA 52 billion in 2011 whereas those of foreigners here regressed from FCFA 273 billion in 2010 to FCFA 171 billion in 2011.

Cameroon Tribune

http://www.cameroononline.org/2012/0...ficit-in-2011/

[ngantsop]

Customs Duty Recovery Fetches FCFA 154.806 Billion in Second Quarter of 2012

Customs officials held their third coordination meeting for the year last Thursday July 19.

The Directorate General of Customs has realised a feat in the customs recovery for the second semester of 2012. FCFA 154.806 billion has been collected, above the initial projection of FCFA 138.907 billion for the second semester. This represents a performance rate of 111 per cent and a 20 per cent progression vis-à-vis the same period in 2011.

The Director General of Customs, Minette Libom Li Likeng made the disclosure last Thursday July 19 in Yaounde during their third coordination meeting for the year.

The traditional coordination meeting brought together all the customs officials from across the country to evaluate their activities for the past months, examine the path they have covered in meeting their objectives for the year as well as handle other burning issues like ethics and governance in the customs administration.

Speaking during the ceremony, Mrs Libom Li Likeng urged the staff to redouble their efforts for more harvest so as to ably contribute to realising the Head of State’s ‘Greater Accomplishment’ plan.

Records show that for the first quarter, FCFA 294.160 billion was collected, representing a 106 per cent performance rate.

Thursday’s meeting also served as an opportunity for the Director General of Customs to remind the staff of what is expected of them in the next three months to meet and even surpass the FCFA 150.4 billion projection for the third quarter. For example, Littoral 1 is expected to fetch FCFA 126 billion, Littoral II, FCFA 8.5 billion, South West, FCFA 13.3 billion for the third quarter, among others.

In all, government is expecting FCFA 550 billion in customs duty recovery for the ongoing fiscal year. The results awaited are expected to be facilitated by the recent acquisition of 155 state-of-the-art field equipment; comprising 10 Prado jeeps, 15 mini-buses, 30 Toyota vehicles and 100 motorcycles.

Cameroon Tribune

http://www.cameroononline.org/2012/0...arter-of-2012/

[ngantsop]

Botswana Diamonds Recovers First Diamond in Cameroon Exploration

Botswana Diamonds plc (AIM: BOD) (“Botswana Diamonds”) is pleased to announce that it has recovered a 2 carat diamond at its sampling project at Libongo in the Cameroon. The diamond is a low value, near gem quality stone.

A 300 tonne bulk sample has been taken from a palaeoplacer conglomerate identified by Botswana Diamonds in 2011 and is being processed. The objective was to confirm the diamondiferous potential of the deposit.

Libongo is a very remote site in dense rainforest in eastern Cameroon. The 400 sq km licence lies adjacent to the Mobilong diamond mine being developed by CNK Mining of South Korea. Heavy rains and equipment breakdowns have delayed the processing of the material but the full results are expected to be known by the end of Q3 2012.

John Teeling, Chairman of Botswana Diamonds, commented:

“Our exploration in Cameroon is justified. We found a diamond in the palaeoplacer conglomerate. Diamonds being mined from palaeoplacers is a relatively new phenomenon and only gradually finding acceptance due mainly to the Marange discoveries in Zimbabwe.

Botswana Diamonds was an early mover when rumours of diamonds in Cameroon palaeoplacers emerged. We obtained a large licence next door to a Korean company, CNK, who claimed to have a commercial diamond discovery. Two years later we have found the rock type and now a diamond in this rock. The stone is of industrial quality but proves the concept. Meanwhile, CNK is completing the construction of a diamond mine.

We will complete the processing of the 300 tonne bulk sample and prepare for the next stage.”

Source & more: Mineweb

http://www.cameroononline.org/2012/0...n-exploration/

[a_bondima]

Construction of 3000 apartments in yaounde

image hosted on flickr


image hosted on flickr


image hosted on flickr


image hosted on flickr


image hosted on flickr