On a special edition of Managing Africa, host Nadine Mebune had an insightful conversation with Albert Ngwana, the CEO of AFTEL Group. Their discussion centered around cross-border trade between Cameroon and Nigeria, highlighting the opportunities and challenges businesses face when operating across these two major West and Central African economies. During the conversation, Albert Ngwana shared his journey and experience working closely with Nigeria’s former president, Olusegun Obasanjo, shedding light on their collaborations and the impact of such partnerships on regional economic growth. With Obasanjo scheduled to visit Cameroon next week, the discussion also touched on the significance of his upcoming visit and its potential implications for strengthening business and diplomatic ties between the two nations. Beyond trade, the dialogue expanded to explore the future of investments and entrepreneurship in Africa. Ngwana provided valuable insights into the evolving business landscape, emphasizing the role of innovation, policy reforms, and regional cooperation in fostering a more robust entrepreneurial ecosystem across the continent.
Cameroon: Former Nigerian President Olusegun Obasanjo announced at the Autonomous Port of Kribi
The Port of Kribi in Cameroon is preparing to welcome former Nigerian President Olusegun Obasanjo to its facilities. According to information received by our editorial staff, the politician-turned-businessman will be in the country in April 2025 to launch OABL’s operations. Through a partnership with the Autonomous Port of Kribi, Obasanjo Agro-Allied Business Ltd aims to position itself as a key player in the development of trade between our two nations. Once operational, the company, we learned, will focus on sectors such as agriculture, maritime transport, and oil. This project is not only limited to the creation of economic opportunities, but also to the solidification of bilateral relations between Cameroon and Nigeria. The intention behind it is to decongest the ports of Apapa and Lekki “by carrying out numerous services, including transshipment and many other maritime activities at the deep-water port of Kribi ,” we learned from a source close to the matter. Olusegun Obasanjo’s arrival coincides with the announcement of the commissioning of Phase 2 of the Port. Indeed, China Harbour Engineering Company (CHEC), a subsidiary of CCCC, which built this second phase, carried out its technical handover on February 21, 2025. With a total quay length of 715 meters, its commercial commissioning, announced in April, is expected to significantly improve the port’s efficiency and capacity.
Autonomous Port of Kribi: Cadyst Group docks and unloads a ship carrying 5,000 tonnes of wheat
In its mission to increase its industrial appetite, Cadyst Consumer Group, controlled by Cameroonian businessman Célestin Tawamba, is preparing to inaugurate a flour mill for its subsidiary La Pasta SA in the city of Kribi. Thus, the holding company has been in negotiations since 2022 with the top management of the Kribi Multipurpose Terminal (KMT) relating to customary procedures in the context of this operation, the first for both parties. Discussions which resulted, on October 13, in the docking of the group’s very first wheat ship in PAK . “We must salute the pioneer that La Pasta represents, who took a certain risk by deciding to establish a factory in the industrial zone of the port. It is a decision that was made internally for at least three years. And we have been in discussions with them since 2022. We have discussed at length the various procedures that must be respected or put in place to ensure the fluidity of transaction operations ,” declared Didier Kinsoen, Director General of KMT. Thus, the 5,000 tonnes of wheat from Poland will allow Cadyst to effectively start operations at its second flour mill, with a turnover target of 23 billion FCFA. “This is a very important step. We are welcoming the industrial company La Pasta, which is established in the port area. What is also interesting is to know that the first wheat ship arriving at the Port of Kribi is imported by a Cameroonian industrialist, for a Cameroonian industry. It is truly symbolic… In this ship, we have 5,000 tons of wheat coming from Poland. After the docking of this ship, the industrialist begins its operations. There will still be other wheat operations that will come later. Once the factory is 100% operational, we will be able to welcome ship calls each year,” reassured Michael Mama, PAK’s Director of Operations. The first agri-food factory to be installed in the port area of Kribi, Cadyst Group, through this operation, it must be remembered, is claiming not only its role as leader in the milling sector but also as a precursor of the agri-food industry in PAK. “The economic patriotism of the group is the key word of this operation ,” the company boasts.
Ecobank Cameroon to distribute 18.9 billion FCFA in dividends to its shareholders for the 2024 financial year
Subject to prior approval from the Central African Banking Commission (Cobac), Ecobank Cameroon shareholders, meeting at their Ordinary General Meeting on March 28, 2025 in Douala, unanimously voted to pay a total gross dividend of FCFA 18.9 billion for the financial year ending December 31, 2024, representing a gross dividend of FCFA 189,460 per share held. This amount represents an increase of 47.5% compared to 2023. This resolution of the General Assembly comes at a time when the bank has recorded a record profit since the start of its activities in Cameroon in 2001. Indeed, as of December 31, 2024, Ecobank Cameroon has a net profit of 21 billion FCFA. Compared to 2023, this is up +47.51%. The bank’s pre-tax profit increased by 32%, from 17.2 billion FCFA in 2023, to 22.8 billion FCFA. The local subsidiary of the Ecobank group closed the year 2024 with a total balance sheet of 588.1 billion FCFA, and a deposit volume of 434.6 billion FCFA, an increase of 13% year-on-year. The bank’s outstanding credit, as of December 31, 2024, stood at 155.1 billion FCFA, down 15% compared to the same period last year. Net banking income (NBI) stood at 50.1 billion FCFA, an increase of 4.5 billion FCFA, representing growth of 10% year-on-year. Ecobank Cameroon’s return on equity remained at double digits at 39.43%, reflecting a solid return on capital. “The Bank’s liquidity level is adequate and all regulatory ratios are met as of December 31, 2024,” reassures Gisèle Chantal Mbarga, Chairwoman of the Board of Directors.
Cameroon Unlocks Access to IMF Loan to Drive Economic Growth
The International Monetary Fund (IMF) and the Cameroonian authorities have reached a staff-level agreement on the seventh reviews of the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF), as well as the second review of the Resilience and Sustainability Facility (RSF). The ECF/EFF arrangements were approved by the IMF Executive Board for a total amount of SDR 483 million (US$ 689.5 million) in July 2021, according to an official statement. An extension of these arrangements of 12 months was approved in December 2023 to allow more time to implement the policies and reforms, and access was augmented by SDR 110.4 million (US$ 147.6 million). The 18-month RSF was approved by the Executive Board in January 2024 in the amount of SDR 138 million (US$ 183.4 million). Economic recovery has continued, but growth remains subdued, IMF staff said at the end of review. Economic growth was 2 percent in 2023 and expected to pick up to 3.9 percent in 2024. Twelve-month average inflation was 4.6 percent in November 2024, down from 7.5 percent last year. IMF said program performance was broadly satisfactory. Some reforms have been delayed, and the authorities have worked to complete work on measures related to governance in the extractive industry sector, the business climate, SOE reform, and public financial management. At the conclusion of the discussions, Ms. Cemile Sancak, Mission Chief said, “The IMF and the Cameroonian authorities have reached staff-level agreement on the seventh review of the ECF/EFF arrangements, as well as the second review of the RSF arrangement. “The agreement is subject to approval by the IMF Executive Board. Completion of the reviews would enable disbursement under the ECF-EFF arrangements of SDR 55.2 million (US$ 73.0 million) and disbursement under the RSF arrangement of SDR 34.5 million (US$ 45.6 million). “Cameroon’s recovery is continuing, but growth is subdued. In 2023, the economy grew 3.2 percent and is expected to pick up to 3.9 percent for 2024. Inflation has subsided further; twelve-month average inflation was 4.6 percent in November 2024, down from 7.5 percent last year. “The fiscal outlook for 2024 is positive. The target for the non-oil primary deficit remains 2 percent of GDP, an improvement on 2.5 percent of GDP last year (and 3.9 percent of GDP in 2022). “During the first half of 2024, non-oil revenues improved by 5 percent, helped by a solid performance of corporate and indirect taxes. “Lower-than-expected expenditure was due to delays in investment projects, a recurrent challenge that weighs on growth prospects. “Prospects are broadly positive provided continued reform implementation and benign external conditions. “The growth forecast is unchanged at about 4 percent in 2024, gradually rising to about 4.5 percent over the medium term. Inflation is expected to decline to 4.4 percent by the end of 2024 and gradually reach the CEMAC convergence criterion of 3 percent by 2026. “The 2025 budget was adopted by Parliament in December and is consistent with the objectives set out under Cameroon’s IMF-supported program and anchoring fiscal policy over the Presidential elections later in 2025. “A key goal remains generating space for productive and social investment and advancing anticorruption reforms”. There have been delays in the implementation of the structural reform agenda. To attain the ambitious objectives of the national development strategy (SND30), the authorities are encouraged to complete important measures set out in the program concerning governance in the extractive industry sector, the business climate, SOE reform, and public financial management. “Specifically, the mission urged the authorities to advance long-pending work on the SONARA restructuring plan and revise the 2013 law to streamline investment incentives. “Under the RSF, Cameroon has intensified efforts to improve the climate policy framework. Work is progressing on the reform measure to establish guidelines for evaluating investment projects with climate change considerations in mind, to improve disaster preparedness by revising the Civil Protection law and by updating the mandate of the National Risk Observatory. The IMF and other development partners are providing technical assistance for a national climate plan, a national strategy for disaster risk financing, and strengthening governance and sustainability of the forestry sector.
AFTEL meeting with Minister of Transport,Cameroon in January 2025
AFTEL Meets with Cameroon’s Minister of Transport to Discuss Infrastructure and Trade Facilitation January 2025 – AFTEL, a leading international trade facilitation and project financing firm, held a high-level meeting with Cameroon’s Minister of Transport to discuss critical strategies for improving the country’s transportation infrastructure, trade logistics, and industrial development. Key Areas of Discussion During the meeting, both parties focused on enhancing Cameroon’s transportation sector to align with international trade standards. The discussions covered: 1. Strengthening Transport Infrastructure AFTEL highlighted its commitment to supporting the modernization of road, rail, and port facilities to improve efficiency and connectivity for trade within Cameroon and across African markets. The company aims to provide financing and technical expertise for projects that will boost economic development and industrialization. 2. Trade Facilitation and Logistics Efficiency Cameroon plays a strategic role as a trade hub for Central Africa. AFTEL and the Minister explored ways to streamline logistics and reduce trade barriers, ensuring smoother movement of goods, reducing costs, and enhancing competitiveness for local businesses. 3. Investment in Sustainable Transportation AFTEL presented its vision for sustainable transport solutions, including renewable energy-powered logistics systems and smart infrastructure technologies. These initiatives aim to reduce carbon footprints while increasing the reliability of transport networks. 4. Public-Private Partnership (PPP) Opportunities Recognizing the importance of collaborative investment, both parties discussed potential Public-Private Partnerships (PPPs) to accelerate transport projects, ensuring long-term economic sustainability. AFTEL expressed its willingness to work closely with the Cameroonian government to mobilize international funding and expertise. A Step Toward Economic Growth This meeting marks a significant milestone in AFTEL’s mission to drive Africa’s industrialization through strategic partnerships and innovative financing solutions. By working hand in hand with government stakeholders, AFTEL continues to champion infrastructure development, trade expansion, and economic empowerment across Africa. As discussions progress, AFTEL remains committed to delivering practical solutions and investment strategies that will transform Cameroon’s transportation landscape and further position the country as a key player in regional and global trade.
Los Angeles Fire
LOS ANGELES (AP) — Easing winds delivered a brief but much-needed reprieve to firefighters Tuesday as they battled two massive blazes burning in the Los Angeles area, and the National Weather Service pushed back its unusually dire warning of critical fire weather until early the following day. Forecasters said the winds were below danger levels in the evening, but they were expected to strengthen overnight with potentially fire-fueling gusts. Red flag warnings remained in effect from Central California to the Mexican border until late afternoon Wednesday. Winds increased Tuesday but not to the near-hurricane-force levels that were predicted to happen earlier in the day. Still the danger was not over, officials said. “Key message: We are not out of the woods yet,” the National Weather Service in Los Angeles said in a post on social media. “The winds underperformed today, but one more enhancement could happen tonight-tomorrow.” This round of Santa Ana winds was not expected to be as mighty as last week, but they could carry fire-sparking embers for miles and stoke new outbreaks in a region where at least 25 people have already been killed. Firefighters made more progress on the Palisades Fire, the largest and most stubborn blaze. CalFire Operations Section Chief Christian Litz said he took a helicopter ride around the perimeter and saw no active flames, though it was far from over. Nearly 90,000 households lost electricity as utilities shut off power to prevent their lines from sparking new blazes. A state of alert Weary and anxious residents were told to be ready to flee at a moment’s notice. They remained vigilant, keeping an eye on the skies and on each other: Police announced roughly 50 arrests, for looting, flying drones in fire zones, violating curfew and other crimes. Of those, three people were arrested on suspicion of arson after being seen setting small fires that were immediately extinguished, LA Police Chief Jim McDonnell said. One was using a barbecue lighter, another ignited brush and a third tried to light up a trash can, he said. All were far outside the disaster zones. Authorities have not determined a cause for any of the major fires. Among nine people charged with looting was a group that stole an Emmy from an evacuated house, Los Angeles County District Attorney Nathan Hochman said. The biggest worry remained the threat from intense winds. Now backed by firefighters from other states, Canada and Mexico, crews were deployed to attack flareups or new blazes. The firefighting force was much bigger than a week ago, when the first wave of fires began destroying thousands of homes in what could become the nation’s costliest fire disaster. Kaylin Johnson and her family planned to spend the night at their home, one of the few left standing in her neighborhood in Altadena, near Pasadena. They intended to keep watch to ward off looting and to hose down the house and her neighbors’ properties to prevent flareups. “Our lives have been put on hold indefinitely,” Johnson said via text message, adding that they cannot freely come and go because of restrictions on entering the burn areas. “But I would rather be here and not leave than to not be allowed back at all.” An unusual and ominous warning Tuesday’s forecast included a rare warning: The winds, combined with severely dry conditions, have created a “ Particularly Dangerous Situation,” the National Weather service said, meaning that any new fire could explode in size. The forecast was later adjusted to say gusts were expected to pick up strength early Wednesday.
Port Autonome de Kribi, SIFAX, AFTEL LLC and AVCD meeting in Lagos
Une fois de plus le Cameroun evolue avec des multiples créations . Aujourd’hui nous pouvons constater de nombreux partenaires venus échanger, proposer et implémenter des projets industriels. (Photo de groupe Ort Autonoe de Kribi, AFTEL LLC, D’FARMA Ventures et Obasanjo Farms Nigeria, après une réunion et séance de travail à Kribi à la direction du Port Autonome de Kribi, le 24 Octobre 2022) Restez scotché sur AFTEL LLC
Le Président togolais ouvre le sommet de l’industrie financière africaine à Lomé
Le président togolais Faure Gnassingbé a ouvert Le lundi àLomé, capitale togolaise, le sommet de l’industrie financière africaine (Africa financial industry summit, AFIS), qui vise à construire une industrie financière robuste au service de l’économie et du développement durable en Afrique. “Ce sommet est une belle occasion pour penser l’avenir de la finance africaine”, a dit M. Gnassingbé dans son discours d’ouverture, soulignant : “L’avenir de la finance africaine se construira sur la collaboration étroite entre les gouvernements et le secteur bancaire.” Le président togolais a rappelé que la rencontre de Lomé s’était tenue à un moment où la COVID-19 et le conflit russo-ukrainien ont profondément bouleversé la structure de l’économie mondiale, et de nombreux craquements fissurent aujourd’hui la charpente des économies africaines. Il serait dangereux de sous-estimer les conséquences de ces bouleversements, en particulier pour les plus fragiles de nos concitoyens, mais également pour l’ensemble des acteurs économiques et financiers impliqués dans le développement de notre continent, a affirmé M. Gnassingbé, ajoutant que la question du financement des programmes d’action demeurait un enjeu déterminant. Il a rappelé que plus que jamais les investissements de qualité étaient le socle du développement africain. Le président togolais s’est dit certain que les travaux du sommet de Lomé apporteraient des “éclairages essentiels” à la prise de décision des pouvoirs publics et des institutions financieres internationales qui sont des partenaires importants pour les pays.
Universities in Dire Need of Hostels
Cameroon is home to some of Central Africa’s most prestigious universities, attracting thousands of students nationwide and beyond. Despite this academic allure, the country’s higher education institutions face a pressing challenge—an acute shortage of hostels for students. This housing crisis not only affects the quality of education but also threatens the well-being and future of Cameroon’s youth. A Growing Student Population With increased enrollment driven by a growing population and higher literacy rates, universities across Cameroon are struggling to accommodate the influx of students. Institutions like the University of Buea, University of Yaoundé I, and others experience overwhelming demand for housing, far exceeding available supply. Many students are forced to rent private accommodations, which are often costly, overcrowded, and far from campus. Consequences of the Housing Crisis The lack of adequate hostel facilities has far-reaching consequences: High Living Costs: Students renting private housing often pay exorbitant prices, putting financial strain on families. Poor Living Conditions: Many private accommodations lack basic amenities, compromising students’ health and safety. Academic Performance: The stress of securing housing and commuting long distances impacts students’ focus and academic success. Social Risks: Inadequate supervision in private housing can expose students to negative influences and unsafe environments. A Call for Action Addressing this crisis requires a concerted effort from the government, universities, and private sector. Here are some potential solutions: Government Investment: Increased funding for the construction of modern hostel facilities on university campuses. Public-Private Partnerships: Encouraging private developers to build affordable, high-quality student housing under government incentives. University-Led Projects: Institutions could initiate self-sustaining housing projects to meet their students’ needs. Community Engagement: Local communities could provide temporary housing solutions and support for students. The Role of Stakeholders This issue is a shared responsibility. Universities must prioritize housing in their development plans, while the government should implement policies that encourage investment in student accommodation. Additionally, private companies and non-governmental organizations can step in to bridge the gap by financing and managing housing projects. Hope for the Future Cameroon’s students deserve more than a quality education; they deserve a safe and conducive environment to thrive. By addressing the housing crisis, we can unlock the potential of our youth and empower them to contribute meaningfully to the nation’s development. The time to act is now. Together, we can ensure that every student in Cameroon has access to affordable, safe, and comfortable housing, paving the way for a brighter future. By Albert Ngwana.