Business

VOA | Officials in Cameroon suspended the work contracts of several thousand foreign workers, including Africans, Chinese and Europeans, and ordered them to obtain work permits and pay taxes within a month or leave the country. The Cameroon government said that only about 100 of more than 2,000 foreign workers …

The Africa Report | The world’s leading credit rating agency has downgraded Cameroon’s sovereign rating by six points, a steeper downgrade than that by Moody’s two weeks earlier. Standard and Poor’s (S&P) downgraded Cameroon’s long- and short-term foreign currency sovereign rating by six notches on 8 August, from B-/B (highly speculative) to …

RFI | Plusieurs centaines d’anciens employés temporaires du chantier naval CNIC – l’une des plus grosses entreprises publiques et dont le siège se trouve dans l’enceinte portuaire de Douala – manifestent depuis deux semaines devant le ministère des Finances à Yaoundé. Ils revendiquent le payement de leurs droits depuis l’arrêt …

Construction Review | The construction of Cameroon’s 420MW Nachtigal hydropower project passes a major milestone with the filling of the reservoir. Gaston Eloundou Essomba, the country’s Minister of Water and Energy, closed the dam’s valves, officially marking its impoundment. The primary civil works are being carried out by Belgium’s BESIX, …

VOA | Cameroon is cracking down on the smuggling of cocoa, cotton, and other cash crops to Nigeria by temporarily banning the legal trade as well. Since announcing the ban two weeks ago, authorities have sent hundreds of police to the border and seized scores of trucks. But Cameroon’s struggling …