Showing posts with the label Business
Friday, February fourteenth, the   UN says at least 22 people have been killed in a village in the Northwest region of Cameroon. Over half of those killed were children. No one has claimed responsibility for Friday’s incident but the opposition parties blame the killing on the government.

Yahoo sets Deadline for buyers to present bids

Yahoo Inc. has given prospective buyers until April 11 to present preliminary offers for some of its assets, the Wall Street Journal reported late Monday. In letters to potential suitors, the troubled Internet company asked them what assets they were interested in, how they would finance such acquisitions and what terms would have to be met on their end, the newspaper said, quoting people familiar with the matter.

Impact of China's flat demand on oil prices

As the Brent front-month futures contract stabilizes either side of the $40 per barrel level, and WTI lurks within that range too, a comment by the International Energy Agency that the “oil price may have bottomed out” has triggered a lot of market interest. In its monthly oil forecast for March, the IEA, which advises on energy policy matters of industrialized nations, noted that non-OPEC oil production would fall by 750,000 barrels per day (bpd) in 2016, compared with its previous estimate of 600,000 bpd

Cameroonian company gets its power from natural gas engines

The city of Douala handles most of Cameroon's major exports, such as oil, cocoa and coffee, timber, metals and fruits. Cameroon's unstable electric grid causes local outages, resulting in unplanned downtime and reduced production levels for factories.   Cameroon's SCTB decided to switch from diesel engines to GE's gas-fired reciprocating engines to prove the feasibility of natural gas-fueled generation in Cameroon .

Camair Co will soon open Douala-Bafoussam and Yaounde-Bafoussam routes

Cameroon airline, Camair Co will open the Yaoundé-Bafoussam and Douala-Bafoussam routes by end of March or early April 2016, the managing director, Jean Paul Nana Sandjo, revealed in an interview. Through this expansion of its domestic network, Camair Co will now be able to link the three main cities in the country, Bafoussam being only reachable by land, contrary to Douala and Yaoundé. These new routes toward the West Cameroon will mostly help in increasing the use of the Chinese MA 60 purchased for the Company. Camair Co's managing director said that four Cameroonian crews have been set to take over from the Zimbabwean crew loaned to Camair Co to carry out the maiden flight of these Chinese aircraft in January.

Australian Company to set up cocoa processing plant in Kribi

An Australian company, Atlantic Group, plans to build a cocoa bean processing unit in the southern Cameroonian town of Kribi, reliable sources disclosed on Monday. The information was revealed in a call for expression of interest published on March 14, 2016, which invites companies to bid for the implementation of this project initiated by Atlantic Cocoa Corporation (ACC), a local subsidiary of Atlantic Group. According to the promoters, the “setting up of an industrial cocoa bean processing unit is part of the objectives of the government to promote cocoa processing to the tune of 50 per cent of national production, in order to retain a significant portion of the added value of the country’s strategic agricultural sector.” Cameroon, whose average cocoa production is around 230,000 tons, locally processes only 25 per cent of its production, a volume that the country intends to double by 2020. This will be the first Cameroonian experience of Atlantic Group, a company speciali

Cameroonian businessmen will take part in WIN Eurasia Automation 2016, from 17 to 20 March in Istanbul

According to the Turkish embassy in Cameroon, the 24th edition of WIN Eurasia Automation, which will take place in Istanbul from 17 to 20 March 2016, will register the attendance of about 10 Cameroonian heads of business. In 2015, we learned, this business rendezvous highlighting the automation, hydraulics and industrial logistics sectors, had 1,581 economic operators from the Middle East, Africa and Asia participating. The participation of a delegation of Cameroon economic operators to this event is a great opportunity to establish business partnerships, particularly with Turkey, whose economic cooperation with Cameroon expanded these past years. Indeed, according to statistics from the embassy of Turkey in Cameroon, "the volume of exchanges between the two countries has tripled in 10 years, from USD 40 million in 2006 to almost 120 million in 2015, with a high in 2014, when close to USD 150 million were registered in trade exchanges".