FEICOM To Invest FCFA 34B In Local Communities In 2016
The National Council Support Fund, FEICOM will invest FCFA 34 billion in local communities this year. The money is part of the global budget of FCFA 145 billion which the bank approved for 2016. FEICOM’s goal is to finance projects in local decentralised authorities like, roads, schools and community infrastructure; supply of drinking water projects; rural electrification projects, among others. This investment is expected to boost development and create job opportunities.
First 100 Kits Of Cardiopad Available In Market
The first 100 kits of Cardiopad, the first African medical tablet manufactured by a Cameroonian Engineer Arthur Zang is now being marketed in Cameroon by Himore Medical. Zang says 200 kits of Cardiopad will be added to this first batch in February 2016. These medical tablets are sold at FCFA 2 million per unit. It is an improved version of the device. In the pilot phase launched in 2014, the sensor used only four parts of the body to collect electro-cardiogram signals. Now it has been upgraded to collect from 12 parts of the body. This was thanks to Rolex that sponsored Zang’s further training in China and Korea. The Cardiopad takes and transmits remote cardiac parameters of a patient. The invention overcomes the lack of cardiologists in Cameroonian hospitals.
Eximbank To Fund Kribi Port Second Container Terminal
A recent report by the Pan African weekly Magazine Jeune Afrique, says Eximbank of China has approved a prime rate loan to Cameroon for the funding of the second phase of works on the industrial-port complex of Kribi. This phase also includes the construction of a second container terminal. This is a response to the Cameroon government’s request from the Chinese investment bank for a loan agreement of about FCFA 370 billion as part of this project. The Chinese company China Harbour Engineering Corporation, CHEC, has already built two terminals from Chinese financing.
Sud Cameroun Hévéa To Boost Employment In Rubber Sector
The Ministry of Employment and Vocational Training has signed a partnership agreement with the agro-industrial company Sud Cameroun Hévéa to boost employment in the rubber sector. Sud Cameroun Hévéa would create a professional training centre for the rubber trade as part of the agreement. In addition to supporting the agro-industrial company in the recruitment and promotion of self-employment in the rubber sector, the Ministry of Employment will establish training modules on farming rubber trees. Both parties are hoping in the middle term, to create over 30,000 jobs.
Gov’t Issues FCFA 7B On BEAC Public Stock Market
The Cameroonian Treasury on 27 January, 2016, issued treasury notes with a maturity of 52 weeks for FCFA 7 billion on the BEAC public stock market. This second operation of the year was preceded on January 13, 2016 by an issuance of 13-weeks maturity bills, the issuing bank for the six countries of the CEMAC Region announced in an official communiqué. While the Cameroonian Treasury was only requesting FCFA 7 billion, the Treasury bond dealers raised FCFA 30.3 billion, which translates into a rate of coverage of the demand of 432 percent, with interest rates from 2.05 to 5.7 percent, equivalent to an average weighted rate of 2.3 percent.