The Entrepreneur - Cameroon's Premier Economic & Business Journal

Cameroon, BEAC see no CFA franc devaluation

By Tansa Musa

Cameroon's finance minister and Central Africa's top central banker both said on Monday there would be no devaluation of the CFA franc currency used by 14 states in Africa, denying market rumours. The CFA franc is currently tied to the euro at a fixed exchange rate of one euro to 655.957 CFA francs, with the peg guaranteed by the French treasury. It was last devalued in 1994 -- at that time versus the French franc -- to allow the heavily indebted countries to export more. "As I am talking to you now, I, as minister of finance, I don't know where this rumour started. I only learnt about it on the Internet," Essimi Menye told reporters in the Cameroonian capital Yaounde.

Cameroon launches Sale of Treasury Bonds to Finance Infrastructure Projects

By Ben Nakomo and Sirri Alette Ngwa

The government of Cameroon has embarked on an operation to raise the sum of 50 billion francs CFA (about 120 Million USD) through the sale of treasury bonds. The proceed from the sale is expected to finance the first phase of major projects earmarked for the 2012 budgetary year. The operation was launched during a meeting that brought together the Minister of Finance and  officials of accredited banks in Cameroon, the Central African Republic and Gabon. The latest sale of treasury bonds by the government of Cameroon follows on the sales of 250 billion Francs CFA (about 600 million US dollars) almost a year ago. This was over subscribed, and the sale was over within seven business days beating  the expectations of government officials.

Cameroon eyes 50 percent hike in oil output in 2012

By Tansa Musa

Cameroon could produce some 36.5 million barrels of oil next year, the equivalent of 100,000 barrels a day and over 50 percent up on the "conservative" estimate of the central African state's 2012 budget, a state oil company official told Reuters. The senior National Hydrocarbons Corporation (SNH) official said two new wells were expected to go into production during the first quarter of 2012. "What you are seeing in the finance bill is just a very conservative estimate," said the official who requested anonymity as he was not authorised to talk to reporters. "Two oil wells were supposed to have gone into production this year but were delayed for technical reasons. But I can assure (you) that all measures have been taken to make sure the two go operational in the first quarter of next year."

'Sushi king' Kunene's tribute to Muammar Gaddafi

Businessman Kenny Kunene's 40th birthday party caused uproar when he ate sushi off half-naked models. His 41st was no less colourful or provocative.

Flamboyant South African businessman Kenny Kunene celebrated by dressing up as one of his idols, Muammar Gaddafi, in a flowing cream robe. He surrounded himself with six models wearing camouflage-pattern bikinis and brandishing fake AK47 rifles – an apparent reference to Gaddafi's infamous "Amazonian guard". The multimillion-rand celebrations, held last week in Alexandra township in Johannesburg, also featured pictures of the deposed Libyan leader on huge TV screens. Kunene said he was inspired by Nelson Mandela's loyalty to Gaddafi as a supporter of the liberation struggle in Africa. "I'm very political," Kunene said. "I looked at what's happening in Libya and know Gaddafi was overthrown for oil by America and Britain. I felt that I wanted to celebrate Gaddafi as a living legend for contributing to the liberation we enjoy today. I was celebrating him as a father of the liberation struggle."...More

The Post Newspaper: Cameroon's Warmongering Partisan Attack Dog

 

 

 

 

 

It is an uphill task to extricate ill-educated Negro men like Azoro Opio - The Post Newspaper's some low level Editor' - from their natural habitat of small mindedness and their inherited ecosystem of Holocene primitivism.

That Mr Azoro Opio, who was not a panelist in the Cameroon Radio and Television (CRTV) Press Club of Saturday, November 5, 2011 in Buea, would seize the opportunity to publish in print malicious stuff: 'A Certain Frivolous Mole In The Press Club', on the Publisher of The Entrepreneur NewsOnline, Founder and Editor-in-Chief following his radio remarks on the observed below average trashy-partisan reporting that his paper has embraced, could be interpreted as the official position of the Buea based The Post newspaper, mindful that his write up of Monday, November 14, 2011, never carried a disclaimer ‘as his views only’. This therefore means that The Post newspaper, now a legitimate target for reprisal, from The Entrepreneur Newspaper, sanctioned a member of its troops of ill-educated roadside reporters to hound our reputation with their well-known intimidation and sully reporting tactics befitting a rural pornographic newsletter.

Cameroon: Africa's Unbridled Beauty and Continental Tourism Destination

By Stephen Njumbe Sako

Tourism might not be a money-spinning sector in Cameroon, yet the country's potentials clearly point to tourism as an important industry. Cameroon, known variously as"Africa in miniature, "Melting pot of Africa" and "Africa in microcosm" is endowed with rich attractive touristic potentials as it occupies an unenviable position of 148 out of 181 in world classifications, in terms of the relative contribution of tourism to national economy. Despite this low ranking, Cameroon is endowed with huge potentials from the peaks of Mount Cameroon an active volcano in the Southwest, to the underbelly of Lake Nyos in the Northwest, and from the beach shores of Kribi to the Kapsiki peaks in the northern parts of the country. Cameroon's eastern forest fringe being part of the Congo Basin Forest brings with it, unique natural ecological asset unrivaled in many parts of the world.

Dr. Ernest Molua: a CPDM Apostle and Intellectual Strategist

By Christopher Ambe Shu

People join the ruling Cameroon People’s Democratic Movement (CPDM) for various reasons-some even covert. Ambitious as youth are, some come on board in a bid to position themselves and get jobs. But once in and they can’t find the jobs or get their hidden motives satisfied, they quickly jump out and join the barking opposition in bashing the ruling party. Those who join the CPDM not out of conviction hardly argue cogently in defense of the party.Some of them even feel ashamed when dressed in the CPDM party attire and don’t hesitate to give you flimsy excuses for belonging to it. Others - especially those above the middle age believe whole-heartedly in the CPDM and are vocal in the defence of its ideals.It is in this category that Dr. Ernest Molua falls.

Charles Mbella Moki: 'Buea is Cameroon's Newest ''Grand Chantier Project'' of President Biya'

By Stephen Njumbe Sako

Charles  Mbella Moki, the Lord Mayor for Buea who also doubles as President of CPDM Fako III Section has stated that the town of Buea has been transformed into a huge construction site, even before being announced by the Head of State. He made this declaration recently in Buea at the Youth and Animation Centre while celebrating the 29th anniversary of Paul Biya to the Supreme Magistracy of the State. "Buea is a town that is permanently growing. Before the Head of State pronounced the transformation of the entire nation into a deep workshop, Buea had already engaged itself to that, "Mbella Moki remarked. He revealed that the Buea Council is at the moment executing some projects in its municipality, which fall within the framework to make Buea what he has often described as "Land of Legendary Hospitality."

MOTION OF CONGRATULATION AND SUPPORT TO HIS EXCELLENCY PAUL BIYA, PRESIDENT OF THE REPUBLIC OF CAMEROON

We militants of the CPDM, WCPDM and YCPDM in Fako III (Buea) meeting on the occasion of the 29th Anniversary Celebration of President Paul Biya’s accession to the supreme magistracy of the State at the Youth and Animation Center in Buea on the 6th of November 2011, resolve as follows;

-   Considering the accession of H.E Paul Biya to power on the 6th of November 1982, in accordance with the constitution and his firm commitment on the same day to succeed in the mission assigned to him;

-  Considering the landslide victory recorded by H.E Paul Biya, CPDM candidate at the October 9 Presidential elections re-affirming the confidence and loyalty of Cameroonians of all persuasions as a confirmation of his status as the “People’s Choice”;

- Considering the resounding victory of the CPDM Party in the Fako III Section as a mark of our unflinching support and belief in the distinguished leadership of H.E Paul Biya;

AN ADDRESS BY THE CPDM SECTION PRESIDENT FOR FAKO III, Charles Mbella Moki, ON THE OCCASION OF THE 29TH ANNIVERSARY OF PRESIDENT PAUL BIYA’S ACCESSION TO THE SUPREME MAGISTRACY OF THE STATE

BUEA-NOVEMBER 6, 2011

-    YOUR EXCELLENCY, THE GOVERNOR OF THE SOUTH WEST REGION,
-    THE VICE CHANCELLOR, UNIVERSITY OF BUEA
-    HONOURABLE MEMBERS OF PARLIAMENT
-    THE LEADER OF THE CENTRAL COMMITTEE DELEGATION
-    THE DIVISIONAL OFFICER, BUEA
-    ADMINISTRATIVE, TRADITIONAL AND RELIGIOUS AUTHORITIES,
-    DEAR COMRADES,
-    DISTINGUISHED GUESTS, LADIES AND GENTLEMEN,

This  ceremony marking the  29th Anniversary  of  H.E  Paul Biya’s  accession  to the Supreme Magistracy  of  our  country  affords  us the  opportunity  to come  together  with  the  expressions  of  our  gratitude  and  congratulations  to  a President we love, a leader we admire  and  a  man the world respects.

Therefore, in welcoming all of you to this ceremonial ground on behalf of the people of Buea and the Fako III Section which I am privilege to lead, may I avail myself of this opportunity to congratulate each and every one of  you for the  role you  played  in  securing  a  most  cherish victory for the CPDM and its candidate at  the  last  Presidential  Elections of October 9, 2011.   By  voting  massively  for  H.E Paul  Biya,  you did not  only perform a civic duty but as  people of  Buea, you  made the  right  choice, a good  choice, a strategic  choice  and in fact, you   made the  best choice.   History will reward you and certainly God will bless you. As  your Section  President  and  Mayor of this  community, it is  true  that I led  you over this hurdle and challenge  in  achieving the  desired  results  but above all your resolve, your commitment and  your dedication made the  difference.