Tuesday, June 2, 2020
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Corporate News 

Castel Group Invests FCFA 10.7 Billion In New Bottling Plant

Local subsidiary of French group Castel, Société Anonyme des Brasseries du Cameroun (SABC), has announced an investment of FCFA 10.7 billion in a new production line that will generate 70 new direct jobs and fill 28,000 bottles per hour. Some 6,000 people are already employed in the country by SABC and its subsidiaries, the Société Camerounaise de Verreries (SOCAVER) and Société des Eaux Minérales du Cameroun (SEMC).

Camair-Co Recruit Pilots For Chinese Planes

Camair-Co is currently recruiting pilots to fly the MA60 Chinese planes that have been grounded for some time now. Recently, Transport Minister Edgard Alain Mebe Ngo’o said the planes were safe to fly after receiving their technical certification from the aviation authority. Applicants interested in the jobs have been asked to submit their applications address to careers@camair-co.net. According to reports, the Chinese planes will mostly be used for domestic routes to towns like Bafoussam, Bamenda, Ngaoundere, Garoua, Maroua and Yaounde.

Gazprom To Purchase Gas From FLNG Project Off Kribi

Gazprom’s affiliated company, Gazprom Marketing & Trading Singapore Pte Ltd (GM&TS), Société Nationale des Hydrocarbures (SNH), Perenco Cameroon S.A. (PERCAM), Golar Hilli and Golar Cameroon (GOLAR) for the Floating Liquefied Natural Gas (FLNG) project, off the coast of Kribi, have signed an eight-year agreement. This project is an allocation of 500 bcf of natural gas reserves which will be supplied from the Sanaga Sud and Ebome field by SNH and Perenco. Gazprom, however, is to be the only off-taker from the FLNG terminal. According to the agreement, Golar will be the operator of the FLNG Terminal through its Hilli FLNG vessel. The first deliveries from the terminal are expected to commence in Q2 of 2017.

Minister Blames Market Conditions For Eurobond Failure

The Minister of Finance, Alamine Ousmane Mey, says the first Cameroonian Eurobond of FCFA 750 billion could only raise a meagre FCFA 375 billion. According to the Minister, rigid and unfavourable conditions in the market during this period were the cause of the failure of the Cameroonian Eurobond in the market. He said lack of interest from investors was never the reason for the failure of Cameroonian Eurobond. Poor market conditions also forced some other countries to postpone theirs while other countries had to reduce their interest rate in order to succeed.