Vodafone Mobile Operations Halted in Cameroon Over License Issue

Vodafone Mobile Operations Halted in Cameroon Over License Issue

YAOUNDE (Capital Markets in Africa) – Vodafone Group Plc’s operations in Cameroon have been halted after the country’s telecommunications regulator ruled that a license had been incorrectly awarded to the local partner of the U.K. wireless carrier. The west African nation’s Telecommunications Regulatory Board allowed Vodafone Cameroon to provide internet and mobile services in the country without government approval, Posts and Telecommunications Minister Minette Libom Li Likeng said in interview in the capital, Yaounde, on…

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Cameroon Seeks to Improve Cocoa Bean Quality After Declines

Cameroon Seeks to Improve Cocoa Bean Quality After Declines

YAOUNDE (Capital Markets in Africa) – Cameroon is taking steps to encourage farmers to grow better quality cocoa after a deterioration in last year’s crop resulted in lower prices for the country’s beans. About 90 percent of Cameroon’s cocoa exports in the season through July were classed as Grade 2, the second of three quality ratings for beans, according to Trade Minister Luc Magloire Atangana Mbarga. That compared with 97 percent previously and meant that Cameroonian…

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Cameroon considers two-year IMF aid programme to drive growth

Cameroon considers two-year IMF aid programme to drive growth

YAOUNDE (Capital Markets in Africa) – Cameroon and the International Monetary Fund are considering a two-year aid programme for the Central African country to deliver sustained and inclusive economic growth. Leaders of the Central African bloc (CEMAC) agreed in December to engage with the IMF to find ways to overcome macroeconomic instability caused in part by lower global commodity prices, the IMF said in a statement. Cameroon, which produces oil, cocoa, and coffee and is the…

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Marcopolo Eyes Africa and Middle East to Increase Exports by 50%

Marcopolo Eyes Africa and Middle East to Increase Exports by 50%

ACCRA (Capital Markets in Africa) – Bus maker Marcopolo SA is using Brazil’s rough roads as a calling card to enter markets as remote as Ghana and Cameron as it tries to shield its business from a recession at home. The company started exporting to 12 new countries in the past year and now ships to 40 markets worldwide, according to Ricardo Portolan, the exports manager at the Caxias do Sul-based company. That helped put it on…

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Cameroon’s Economy to Grow by 6% in 2017 Says Finance Minister

Cameroon’s Economy to Grow by 6% in 2017 Says Finance Minister

YAOUNDE (Capital Markets in Africa) –  Cameroon’s economy is set to expand 6 percent this year even as it imposes new taxes to compensate for a decline in government revenue from oil, Finance Minister Alamine Ousmane Mey said. The central African nation last month approved the introduction of 24 taxes that apply to a wide range of goods and services, including second-hand car imports and exports of timber, Mey said in a Jan. 3 interview…

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Conflict Diamonds from CAR Entering International Markets via Cameroon

YAOUNDE (Capital Markets in Africa) – Cameroon is allowing conflict diamonds from the Central African Republic to cross over its borders and into the legal supply chain due to poor controls, smuggling and corruption, Partnership Africa Canada (www.PACweb.org) said in a report published today. The full report can be accessed at: http://bit.ly/fromconflicttoillicit The report, From Conflict to Illicit: Mapping the Diamond Trade from Central African Republic to Cameroon, investigates the failure of Cameroon’s implementation of…

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Proparco invests in Sub-Saharan African insurance company

Proparco invests in Sub-Saharan African insurance company

Yaounde, Capital Markets in Africa: The insurance sector is an engine for the economic and social development of Africa. It is for this reason that Proparco is supporting the expansion of Activa Group via an equity investment. Proparco has committed a EUR10mn equity investment in Activa Group to support its development in Sub-Saharan Africa. Activa Group was set up in Cameroon in 1998 and is a major insurance player (life and non-life) in Sub-Saharan Africa….

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