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China Exim’s largesse should be used to diversify Cameroon’s trade profile The Export Import bank of China (China EXIM) has approved a US$ 547 million loan to finance the second phase of the deep seaport in Kribi, Cameroon. The first phase of the project, which cost US$ 568 million, was similarly (largely) financed by China
Comments from Olam’s management at its recent Q3-2016 earnings teleconference acutely highlight the major trends in commodities in key francophone and West African markets and, in our view, emphasise Olam’s position as the bellwether for developments in agricultural and consumer goods in the region. A strategic cluster Strategically, Olam considers Africa as one of its
A Bloomberg survey of traders expects shipments this month to Asia from Angola, Nigeria, Equatorial Guinea, Republic of Congo, Ghana, Cameroon, Gabon and the Democratic Republic of Congo to rise by 8 to 60 cargoes. This is equivalent to 1.9 million barrels per day (mbpd), up from 1.6mbpd in October. Asian demand is being boosted by the
From Dublin to Dakar The electronic CFA franc (eCFA) will struggle in the absence of a thriving ecosystem, according to industry experts interviewed by FrancTrade.com. This follows an announcement today by the Senegal-based Banque Régionale de Marchés (BRM), that it is partnering with the Dublin-based eCurrency Mint Limited (eCM) to provide a digital currency in
Ahead of 2017/18 The Russian gas giant Gazprom has signed an 8-year contract with Pegasus shipping to charter a ‘clean energy’ vessel that will mainly be used to transport volumes from Cameroon’s liquid natural gas (LNG) project, slated to come on-stream by mid-2017. This follows Gazprom’s partnership with the National Hydrocarbon Company of Cameroon (SNH)
Franctrade view: Cameroon may indeed stand to benefit from the Economic Partnership Agreement (EPA) with the European Union (EU), although the government’s revelation that the country will lose 4.2bn CFA francs in revenue in its first year will do little to quell the raging debate over the trade deal. According t o Cameroon’s finance minister,
Improving demand Franctrade expects cement consumption in West Africa to rise strongly in 2016 after a robust recovery in 2015. Improving urbanisation rates and large infrastructure projects have fuelled cement demand with growth pegged at 3.1% in 2015, up from 0.9% in 2014 according to estimates from the industry association, cemnet According to Bloomberg intelligence, funding
A leading enabler of global trade Dubai Ports (DP) World, which operates marine and inland terminals across six continents, is looking to turn the West African city of Dakar in Senegal into a key logistics hub. The chairman and CEO of DP World has reiterated the company’s readiness to be part of the massive change
Provisional sales reports from car-maker Renault showed ‘passenger car’ (PC) and ‘light commercial vehicle’ (LCV) car sales dropped marginally in francophone Africa in the year to September 2016 despite an increase in global sales. Notable declines were seen in Chad, Niger, Madagascar and the Democratic Republic of Congo. On aggregate, sales in francophone Africa fell
Franctrade understands that a delegation of agribusiness executives and officials from Cameroon’s Ministry of Agriculture recently visited Malaysia to acquire skills on how to optimise output in the oil palm sector. Cameroon has ambitions to increase palm oil output to 450,000 tonnes, from the current 270,000 by 2020. Cameroon does not produce enough palm oil
