The Entrepreneur - Cameroon's Premier Economic & Business Journal

Philemon Yang is Cameroon's New Prime Minister

The President of the Republic of Cameroon has appointed a new cabinet. The Cabinet comprises of recycled older members of previous ministerial appointments. The appointments provide an indication that the President is already strategising for the 2011 presidential race or succession. Having dropped a seasoned economist Chief Ephraim Inoni as Prime Minister, the President is seen playing chess as he appoints Mr Philemon Yang to pacify the more vocal rulling CPDM party officials and boisterous opposition politicians, all from the northwest region, from where the new Prime Minister hails.

Nine Cameroonian 'Bushfallers' Arrested for Fraud

A group of nine Cameroonians have been arrested for cheating a Chinese woman out of more than 267,000 yuan (US$39,265) in a "black money scam," Shenzhen police said yesterday. The nine people persuaded the woman, surnamed He from Fuzhou, Fujiang Province, into paying more than 267,000 yuan to purchase a "magic" chemical fluid that would restore US$5 million in bank notes that had been dyed black so they could be smuggled into China, police said.

Sept morts dans une attaque de coupeurs de route

par Pierre-Alexis Kaptchouang

Le convoi des commerçants a été attaqué dans le village Belel Dibbi, alors qu’ils se rendaient dans un marché de la localité.La région de l’Adamaoua était récemment sous le choc du drame qui s’est produit lundi dernier autour de 10hrs sur l’axe Ngaoundéré – Meïnganga. La scène était plus qu’effroyable. Un convoi de dix voitures de commerçants se rendant au marché de Kognoli, une petite localité située entre Ngaoundéré et Meïnganga, et connu pour son marché de bétail florissant, est tombé dans une embuscade tendue par les coupeurs de route, alors qu’elle était sous escorte des éléments du bataillon léger d’intervention (BIR).

Cameroon's Fibre Optic Cable to Revolutionize Communication

By Ernest Molua

Following discussions at a Cabinet meeting on December 28, 2009, members of government were briefed on the progress of installing fibre optic cables. Some business managers have welcome the initiative, and hope the ongoing work will be completed soon. Fibre optic cables will enhance business communication in Cameroon and reduce transaction costs, Apart from applications in the field of telecommunications, fibre optic technology is of great importance in the industrial market sector which Cameroon is building. While it brings high transmission capacity, low cable attenuation and No crosstalk for basic telecommunications, these features are also required for Cameroon's industrial sector given its attractions of zero susceptibility to electromagnetic interference, electrical insulation between transmitter and receiver and Small cable diameter. This project is expected to provide great services for international telecommunications traffic, especially the internet. It will also provide alternative lines for international telecom network, as well as upgradable transmission facilities in support of internet, e-Commerce, video, data and voice for the Cameroon landscape. Some observers hope it will increase Cameroon's economic potential as business hot-spot and hub in the Central African subregion.  Download Press Release © The Entrepreneur Newspaper 2009. All Rights Reserved

Health amid a financial crisis: a complex diagnosis

WHO Bulletin

The global financial crisis could have profound implications for the health spending plans of national governments. Unless countries have safety nets in place, the poor and vulnerable will be the first to suffer. Jane Parry and Gary Humphreys report. Dr Suwit Wibulpolprasert, senior adviser on disease control at Thailand’s Ministry of Public Health, remembers the last time the wheels came off the global economy. “There was less travel and purchase of cars and motorcycles. Sales of alcohol – as well as tobacco – were reduced. These factors resulted in fewer deaths and injuries in road accidents,” he says.

"...the impact of the financial crisis on our economy could be limited in the short term...."President Paul Biya of Cameroon

Fellow Cameroonians,

My dear compatriots,

At the beginning of the year now drawing to an end, we had every reason to believe that the time was ripe for us to devote our efforts to the attainment of our set objectives, namely the consolidation of our democratic institutions and the revival of our economic growth. In fact, the legislative and municipal elections had resulted in large and homogeneous majorities and furthermore, our economic recovery prospects were encouraging.

Interview (I): “Cameroon’s Private Sector Must Be Positioned as the Engine of Economic Growth” - Dr Ernest L. Molua

“Economists flaunt the private sector, in every development strategy, as the engine of growth, the catalyst for creating employment and wealth for impoverished communities in Cameroon and Africa. The logic is based on the premise that, if government provides a sustainable macroeconomic environment, a consistent policy framework, privatises every thing, liberalise everything including markets, prices, interest rates and the moral code, then private businessmen and enterprises will respond in kind and create growth that will make redundant all the poverty reduction strategies.” The Entrepreneur News Online’s Bright Lokenge puts the question to Dr Ernest Molua, Does the Cameroon private sector give credence to this assertion? Is there a bourgeoning private sector in Cameroon? Dr Ernest Molua is a Senior Lecturer and Researcher at the Department of Economics and Management of the University of Buea in Cameroon. He is a community organiser who gives regular public discourses on the virtues and culture of entrepreneurship. We met him in his posh private offices in Clerks Quarters Buea..

Interview (II): “The communal liberal system we operate in Cameroon allows people who are self-assertive to fit themselves in national civic life.” Dr Ernest L. Molua

“Economic reforms and liberalisation in Cameroon have been half-hearted and primarily pushed by the IMF and World Bank. There is fear by the political class to create wealthy apolitical Cameroonians. This is dangerous for the survival of the elitist system they have created. However, Cameroonians in diaspora “have ignored the opportunities offered to create veritable private businesses in the country,” given the experiences they have accumulated outside the country. The Entrepreneur News Online’s Bright Lokenge chats with Dr Ernest Molua in his private office in Buea. Dr Ernest Molua is a Senior Lecturer and Researcher at the Department of Economics and Management of the University of Buea in Cameroon. He is a community organiser who gives regular public discourses on the virtues and culture of entrepreneurship.

Mr Charles Namme Menyoli 'runs away' with Lifetime Achievement Award in the Cameroon Entrepreneur of Year Award 2008

By Yvonne Soppo Disso

The Cameroon Entrepeneur of the Year Award (CAMEYA) for 2008 was held in Buea on Friday, December 12, 2008. In a colourful evening that attracted over six hundred guests, the Buea based business tycoon Mr Charles Namme Menyoli Founder and CEO of Fakoship won the coveted Lifetime Achievement Award. The CAMEYA Awards were in two major categories, Enterprise Achievement Awards and Individual Achievement Awards. In the enteprise award, Cameroon's confectionery firm, Chococam won the prestigious award for manufacturing. Twenty-five year old Fashion Designer Ruth Yebah added the award for Fashion and Home Design in her collection of Awards.

"We have labour, we have good climate and opportunities abound in Buea"...Charles Mbella Moki

"In our country today, the economic growth and the liberalization of the private sector we are all witnessing is as a result of the assiduous and self reliant efforts of you the talented professionals and main actors of the economic sector. Our Council shares in the idea of Partnership in encouraging the Public Private Partnership Initiative (PPPI) bringing together the Council on the one hand and active economic operators and elites on the other, to enhance our participatory approach as seen in the elaboration of our Strategic Development Plan for the Buea Municipality.." Mr Charles Mbella Moki, The Lord Mayor Buea Municipality declaring open The Entrepreneur Business Week 2008. Read Full Speech

© The Entrepreneur Newspaper 2008. All Rights Reserved