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Dev’t of Capital Markets: Cameroon, CEMAC Entity Sign Cooperation Pact

#Economie
AMINDEH Blaise ATABONG

The regional capital market authority – COSUMAF and the Financial Markets Commission of Cameroon have reached an agreement for information exchange and collaboration.

The Commission for the Supervision of the Financial Market of Central Africa (COSUMAF) and the Financial Markets Commission of Cameroon (CMF) will henceforth collaborate in their functioning.

A convention to promote cooperation and information exchange between both capital market authories was reached last Wednesday April 11, 2018, in Congo. While Nagoum Yamassoum, President of COSUMAF signed for the regional capital market authority, Jean Claude Ngbwa, President of Cameroon’s CMF penned on behalf of his country’s financial market institution.

The signing ceremony supervised by Gilbert Ondongo, Congolese Minister of State for Economy and Industry and President of the Steering Committee of Economic and Financial Reform Programme of the Central African Economic and Monetary Community (CEMAC), took place at the Congolese Ministry of Economy, Industry and Public Portfolio in Brazzaville.

On hand, amongst others, were Prof. Daniel Ona Ondo, President of CEMAC Commission and Abbas Mahamat Tolli, Governor of the Bank of Central African States (BEAC). Going by an official communique sent to our newsroom, the binding convention will guide relations between both parties until the fusion of the regional and national financial markets.

In future, the CEMAC zone is expected to have a lone capital market authority in Libreville – Gabon and a single stock exchange market in Douala – Cameroon. Leaders of member countries of the sub-regional economic bloc had decided so during the Conference of Heads of State of CEMAC which took place in N’Djamena – Chad in October 2017.

The convention will enable both authorities exchange information, documentation and experiences in diversed forms. It will also permit concertations and mutual assitance on all issues of common interest relating to the organisation, functioning and regulation of financial activities.

The convention gives room for operating licences issued by one authority to be recognised by the other. It should be noted that COSUMAF, in its capacity as regulator and controller of the financial market in Central Africa, oversees the protection of savings invested in transferable securities and other financial instruments issued in connection with a public offering. Moreover, it guarantees information to investors and sees into the proper functioning of the market. Meanwhile, CMF regulates the Douala Stock Exchange (DSX) market.
Animal Feed: New Production Regulations Validated

#Economie
MBOM Sixtus

The texts adopted April 17 were drawn up by an inclusive panel of experts from the FAO, government ministries plus consultants and stakeholders in the private sector.

A one-year process of revising texts governing the animal and fish feed production sector in Cameroon has culminated in a validation seminar that the Food and Agriculture Organisation (FAO) organised in Yaounde yesterday April 17.

Speaking at the workshop organised in collaboration with the Ministry of Livestock, Fisheries, and Animal Industries (MINEPIA), the Assistant Resident Representative of the FAO, Felicitas Atanga, said that government sought the assistance of the institution to revise the existing texts which date as far back as the ‘70s because it found them lacking and needed to make them adaptable to present realities.

All stakeholders such as government ministries, international and local consultants, farmers, feed producers and importers were brought on board to take part in the revision. The reason, she said, was to enable acceptability and understanding of its implementation when parliament eventually passes it into law.

The Director of Pasture, Feed and Livestock Infrastructure at MINEPIA, Prof. Etienne Pamo Tedonkeng, told reporters that the evolution of science made the revision of the old texts unavoidable.

He said to ensure that animals and fishes are fed good quality feed that match their nutrition needs, the country is supposed to have appropriate texts. “For instance, we found out that some feed imported from China were causing health problems to animals and there were no provisions of the law that stipulated what is supposed to be done in such as case. The new texts prescribes sanctions to be levied on persons caught selling inappropriate feed.

It suffices to buy a sample of the product, take it the lab for testing and determine its specific composition,” he disclosed. He also said the texts will oblige producers and suppliers who used to deceive unsuspecting farmers to change.

Experts say the feeding of animals amounts to 70 to 80 per cent of the production cost in the animal and fisheries sector. The new text (totalling ten specifications) is expected to protect all activities in the domain.
Les félicitations du chef de l’Etat

#Presidential
Paul BIYA

A S.E. Emmerson Mnangagwa, président de la République du Zimbabwé

« Monsieur le président et cher frère, La commémoration de la fête nationale de votre pays, le 18 avril, m’offre l’agréable opportunité de vous adresser mes vives et chaleureuses félicitations.

J’y joins mes voeux de paix et de progrès pour la nation zimbabwéenne.

Veuillez agréer, Monsieur le président et cher frère, les assurances de ma très haute considération. »
Cameroon Tribune Thursday, April 19, 2018.
Cameroon Tribune du jeudi, 19 avril 2018.
Carte de presse: plus de 1000 demandes acceptées

« Nous sommes heureux de voir que l’objectif fixé dès le départ est atteint. Nous avons reçu ce jour (Ndlr : hier) les dossiers du groupe l’Anecdote que nous allons examiner et nous invitons ceux qui traînent encore le pas à s’arrimer. Parce que dans les prochains jours, nous allons adresser la liste aux instances faîtières sportives internationales pour les accréditations en vue de la couverture de la Coupe d’Afrique des nations 2019 »
Cameroon Tribune Friday, April 20, 2018.
Cameroon Tribune du vendredi, 20 avril 2018.