Africa’s Second Longest-Serving President Appoints Daughter as Head of State Oil Company — Our Cameroon, our World

Angola’s President Jose Eduardo dos Santos has appointed his daughter Isabel dos Santos as head of the state oil company Sonangol. Isabel dos Santos, named by Forbes magazine as Africa’s richest woman, worth an estimated $3.3bn (£2.3bn), has been appointed to take on a job after her father sacked the entire board in April. With […]

via Africa’s Second Longest-Serving President Appoints Daughter as Head of State Oil Company — Our Cameroon, our World

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Bretton Woods Approves 70 Billion For Maternal Health

In order to improve the health services of mother and child in Cameroon, Bretton Woods Institution administrators recently approved FCFA 70 billion funds to finance the project.

According to a World Bank communiqué, the fund includes a loan of FCFA 55 billion from the International Development Association, IDA, the concessional one-stop shop of the World Bank; and a donation of about FCFA 14.8 billion provided by the Fiduciary Fund of the Global Financing Facility, GFF.

The first phase of the project will cover 36 Districts of Northern Cameroon; targeting women, adolescents and children under five, as well as the displaced population and refugees affected by insecurity in the area. The project focuses on two components, which are enhancing the provision of health services and institution building to improve the results of the health system.

Gov’t Terminates Tourist Resort Project

 

The Minister of Economy, Planning and Regional Development, Louis Paul Motazé, has terminated an agreement signed on October 30, 2009 between the State of Cameroon and the British firm Ruwaad Holding Ltd for the construction of an FCFA 1billion tourist resort in Yoyo, Littoral Region.

According to Motazé, the termination of the agreement follow a formal notice addressed to Ruwaad Holding on January 29, 2016.

“For several years now, Ruwaad has not shown any interest in continuing the project as evidenced by the fact that more than three years after the signing of the agreement, the company has not been able to create the project management company (Cameroon International Project Company, or CIP), within the sixty-day period after the signing of the Convention.

The Yoyo tourist resort is made up of a beach developed over several kilometres, parks, hotels, restaurants among others, which was to be built over 10,000 hectares.

ENEO Invites Staff To Subscribe To Buy Back 5 Percent Shares

According to an official communiqué from ENEO, the company invites its staff to subscribe to the shareholding capital of GIC ENEO, an entity which will own five percent of the capital of ENEO Cameroon reserved for employees.

Those eligible for these subscriptions are the current employees of ENEO, public concessionaire in charge of electricity in the country, and the former employees of the company put on retirement between July 11, 2001 and April 21, 2016.

To support the company in this operation meant to meet a clause of the buyout, in 2014, of 56 percent of the shares of the electricity company by the British investment fund, Actis, GIC ENEO retained the services of the company Activa.

President Biya’s Car Breaks-Down

 

biya's carCameroons president, Paul Biya had to be ferried home in a different car, after his Presidential  car failed to start at the 20th May Boulevard in Yaounde. The car had to be pushed out of the scene, as the issue went viral on the social media with Cameroonians giving their different views of the issue

First Chibok Girl kidnapped by Boko Haram, Found — Our Cameroon, our World

Chibok girls
Abducted Chibok School girls

One of the abducted Chibok girls has been found along the Nigerian-Cameroon, as activist hold, the first since they were taken by Boko Haram militants two years ago. Also, the 19 year old girl was found with her husband purportedly a Boko Haram militant, alongside her baby. The 276 girls were taken from their […]

via First Chibok Girl kidnapped by Boko Haram, Found — Our Cameroon, our World

Supreme Court Lessens Jail Terms of Marafa and Fotso

The Supreme Court, sitting in Yaoundé, on May 18, slashed the jail terms of Marafa Hamidou Yaya alongside Yves Michel Fotso.  Originally, Marafa and Fotso were each slammed 25 years behind bars in 2012. With the new ruling, their jail terms were readjusted to 20 years each.

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Also, a banker  and assistant CEO of the Fotso-owned Commercial Bank of Cameroon, CBC, Julienne Kounda, who had been jailed alongside Marafa anf Fotso, was acquitted after serving four years of the 10 years she was originally given.

The former Minister of Territorial Administration and Decentralisation and one-time Secretary General at the Presidency of the Republic, Marafa, and the former General Manager of Cameroon Airlines, CAMAIR and former General Manager of Commercial Bank of Cameroon, Fotso, were charged with the embezzlement of funds meant for the purchase of a Presidential plane, BBJ.

During Wednesday’s Supreme Court session, Marafa is said to have maintained a calm disposition; moving into and out of the court, while Fotso reportedly looked tense; drinking mineral water oftentimes than deemed necessary by onlookers.

As of now, they will have to serve 16 years considering that they have already spent about four years in prison, they have remaining sentences of 16 years each.

After Wednesday’s session of the highest court of the land, both Marafa and Fotso described the ruling as a “travesty of justice.”

Background

Marafa, Fotso and his CBC collaborators were sentenced on September 22, 2012, after a marathon session of the Mfoundi High Court. The Court, in the case of “The Government of Cameroon vs. Marafa Hamidou Yaya, Fotso Michel Yves, Kounda Julienne, Sandjon Geneviève, Chapuis Jean-Louis, Assene Nkou,” were slammed various heavy sentences ranging from 10 to 25 years.

Marafa Hamidou Yaya, Yves Michel Fotso and  Jean-Marie Assene Nkou got 25 years each; Jean-Marie Chapuis, former CEO of the Fotso-owned CBC and his collaborator, Genevieve Sandjon, got 15 years each; while Julienne Kounda, former Assistant CEO of CBC got 10 years.

They were asked to jointly pay FCFA 21 billion ($42 million) in damages and interest to the State, plus more than FCFA 1 billion ($2 million) in costs.