Cameroon: Latest News
Staff, 12:01 am
The fall in African private equity investment in 2016 could be a short-term blip. Among the losers was US-based Carlyle, one of the world’s winningest investment firms. Carlyle invested $147m in Nigeria’s Diamond Bank in 2014. The bank’s market cap fell by 90% over the subsequent two years. Bob Geldof’s PE firm 8 Miles just invested in Blue Skies, a British fruit firm that operates in Africa. Utilities including telecoms were the most popular target for private equity investment in 2016. West Africa was the most active region.
Peter Pedroncelli, 7:02 am
New Confederation of African Football (CAF) president Ahmad has unveiled plans to involve African legends in the continent’s favourite sport in order to develop the game and give younger generations access to their heroes. In an outcome that has surprised many in Africa, Issa Hayatou’s reign at CAF ended last month as Madagascan government minister Ahmad was elected as the new president of the Confederation of African Football.
Peter Pedroncelli, 7:02 am AFKI Original
African football has become a force to reckon with on the world stage, and an indication of which national teams are the best on the continent comes in the form of the FIFA Ranking, which ranks all members of world football’s governing body. Below are the top 10 ranked African national teams in world football for the month of April, according to the FIFA ranking.
Peter Pedroncelli, 2:18 am AFKI Original
Many countries in Africa have extremely high central bank interest rates compared to most of the world, but there are some who boast lower rates that compare favourably on a global scale. Lower interest rates allow the people of that country to be able to afford loans and pay them back at more favourable rates versus countries where the interest rates are much higher. In comparison, the United States federal reserve has an interest rate of 1 percent, while the United Kingdom’s rate is currently set at 0.25 percent. We take a look at 13 African countries with the lowest central bank interest rates.
Peter Pedroncelli, 9:00 am
World soccer governing body FIFA has proposed that Africa receive nine automatic qualification spots when the World Cup expands to 48 teams at the 2026 competition. The proposal would see four extra places for the continent, as Africa is currently offered five automatic qualifying berths. In addition to the nine places, a tenth African country will be able to take part in a six-nation play-off tournament between all of the global continental confederations to decide two additional spots.
Kurt Davis Jr., 10:13 am AFKI Original
The Anglos have an apparently insatiable investment appetite for the region. Gabon will no longer fly under the radar after Washington, D.C.-based Carlyle Group — the world’s largest private equity fund — purchased Royal Dutch Shell’s onshore assets in Gabon for $587 million. Petroleum services, infrastructure and timber are rising on the radar for crafty investors in Gabon. Financial services and ICT too. Gabon is a stable provider of services and networks to neighboring countries. Here are six other Francophone African countries investors are looking at.
Peter Pedroncelli, 9:53 am
Cameroon national team head coach Hugo Broos has yet to receive almost seven months’ worth of his salary from the Cameroon Football Federation (FECAFOOT). The Belgian tactician led the Indomitable Lions to Africa Cup of Nations glory at the 2017 AFCON in Gabon, with Cameroon beating Egypt 2-1 in the final, but he has not yet been paid for half a year’s worth of wages. Reports in Jeune Afrique suggest that the coach, who earns around $48,900 per month at the African champions, has not received a pay check since around September last year.
Mongabay, 12:37 pm
An 8-pound monkey can cost $105 in Paris compared to $5.37 in Cameroon. In Europe’s biggest cities, demand for exotic delicacies or a “taste of home” drives a trade in African bushmeat that is as yet unquantified. African traffickers can get high prices for increasingly rare African species. The influx of bushmeat is small compared to the greater crisis in Africa. “Africa is eating its forests and we are looking at empty forest syndrome,” a stakeholder said. As African species get rarer and fetch a higher price abroad, Europe and the U.S. could become bigger bushmeat markets.
Peter Pedroncelli, 9:37 am AFKI Original
Egypt national team coach Hector Cuper has named his first squad since the Pharaohs lost in the final of the 2017 Africa Cup of Nations (AFCON) in Gabon, falling 2-1 to champions Cameroon at the beginning of February. Determined to refocus and put the disappointment of finishing second in the continental showpiece competition behind him, the Argentinian coach called up 25 players for national team duty in a friendly international against Togo set for next week.
Dana Sanchez, 3:22 pm AFKI Original
Despite declining oil prices, oil-rich Norway is the happiest country in the world — proof that it’s about more than income. The people who live in the happiest countries in the world also value good governance, freedom, generosity, honesty, and health, according to World Happiness Report. There’s a deficit of happiness in Africa. African youth are essentially optimisitic and resilient in the face of poor infrastructure, but they are disappointed with development under democracy, say the authors of the report.
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