At Amungwafor’s Memorial;Bambui Community Showcase Rich Cultural Values and Heritage

Fon Angafor Mom'mbooh III at Memorial 

The Bambui community on Sunday the 30^th of October 2022 body and soul all gathered from around the world at the village plaza, to show respect to their Fon who passed away some 25 years ago and pay loyalty to the reigning king through a rich cultural display and bonanza in all it's form.

It was a come and see ceremony that records another historic page in the life history wire of Bambui and show cases the dynamic life style of the Bambui man and Woman.

All the Fons of Tubah Sub-Division were present accompanied by Fon Senator Teche Nji and all other loyal Fons, friends to the Palace from the North West.

The DO of Tubah Narcisse Metugue and the Mayor of Tubah Council Tanjong Martin Meshogung answered present with all other high profile delegation in the Region.

What ensued, in the first place was a joint ecumenical service, which rained the August in October assembly with prayers, followed by the Mayor of Tubah’s speech, that of the DO, the Fon of Bambui Angafor III, the launching of a village magazine, traditional honors, decorations and cultural animation to end the occasion.

Hear the Mayor, who acknowledged the presence of all living force in the Region at the village plaza, celebrating the lives of late Amungwafor and that of Angafor III.

The DO on his part used the occasion to counsel the population about peace, security and the love for one another. He hailed the organizing committee and praised the Fon for astute and judicious service to the nation as an auxiliary.

“Mbe” Fon Senator Teche Nji took the rostrum with rounds of praises and blessings to the DO, the Mayor and the Fon for their good works.

The Fon of Bambui on his part, thanked all bountifully for answering present at short notice to their call to celebrate the lives and reigns of their ancestors. Thanking God Almighty for the gift of life and that of his people.

To end, this Reporter, must emphasize that for all to have answered for such a symbolic rite occasion in the heart of the Anglophone crisis at the village plaza in their thousands it means the people and the community have love for their thrown and above all their tradition and culture.

 

"Cameroon to Tap in the Carbon Market" MINFI Boss Proclaims

The government of Cameroon is developing a strategy to earn money on the carbon market starting in 2023. Last October 25 in Yaoundé, the Minister of Finance, Louis Paul Motazé (pictured), chaired a workshop to discuss the issue with authorities.

"Our plan is to assess our current situation, identify solutions and implement them to finalize the carbon market entry process," the official said. The carbon market is a system in which carbon rights are traded in the same way as financial securities. The least polluting countries or companies sell their rights to the most polluting ones.

However, achieving this goal requires certain prerequisites. The most urgent for Cameroon is the establishment of its carbon balance sheet, which allows estimating the amount of carbon stored by the country, following various climate-friendly measures. For the time being, we learned, the carbon assessment, which conditions access to green financing, is only available for two of the five agroecological zones of the country.

Let's note that Cameroon can boast of being a country located in the Congo Basin, the second largest forest in the world after the Amazon in South America.

Nnamdi Kanu Igbo Secessionist Leader Freed

The Court of Appeal, Abuja, on Thursday discharged the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, of terrorism charges.

Kanu, who was brought back to the country on June 27 last year, was arraigned by the Federal Government on a 15-count charge of treasonable felony and terrorism at the Federal High Court, Abuja.

Cameroon to Raise CFA155bln on the Beac Security Market in Q4 of 2022

Moh Sylvester Director General of Treasury

The Cameroonian treasury is planning to raise CFA155 billion on the Beac public securities market over the fourth quarter of this year.

According to the provisional transaction timetable, the Treasury expects CFA70 billion through five issues of fungible Treasury bills (BTA). These are short-term government securities (52 weeks at most) that usually enable the coverage of one-time cash needs. The remaining amount (CFA80 billion) will come from five other issues of fungible Treasury bonds (OTA), which are long-term securities (from more than 52 weeks to 10 years) usually used to finance infrastructure projects. The Ministry of Finance indicated that Cameroon is eyeing maturities of 4, 5, 6, and 7 years for the OTA issues. The operation will be done through domestic syndication: a mechanism, validated by the central bank in 2021, which consists of a government issuing public securities through a group of primary dealers (SVT) formed as a syndicate and headed by a lead manager.

This procedure has the particularity of guaranteeing the success of fundraising operations, insofar as the parties agree on the terms of the loan and the amount to be made available by each primary dealer upstream, even before subscriptions are open.

The new bond issue program was launched after the Head of state empowered the Minister of Finance on August 23, 2022, to raise an additional CFA200 billion, through the issuance of public securities, within the framework of the 2022 Finance Law. This brings the total amount sought by the Cameroonian Treasury on the Beac market in 2022 to CFA550 billion. Cameroon Business News.