(Business in Cameroon) - In a correspondence sent on March 5, 2021, to the head of the national brigade of quality control and fraud repression, Minister of Trade Luc Magloire Mbarga Atangana ordered Sano products to be withdrawn from markets. Twenty-four hours earlier, Minister of Industry Gabriel Dodo Ndocke had already ordered the suspension of the company’s operations for
failure to comply with operating standards.
To protect and preserve consumers’ health, I ask you to urgently deploy your teams to immediately withdraw the incriminated products from markets, wrote Luc Magloire Mbarga Atangana. This decision by the Minister of Trade puts an end to the concerns of some consumer rights associations, for whom a simple suspension of Sano s operations is insufficient, insofar as it does not prevent this company from continuing to sell its products, putting consumers’ health at risk.
(Business in Cameroon) - Cameroon will inject close to XAF47 billion to recapitalize Union Bank of Cameroon (UBC) and National Financial Credit (NFC Bank), two banks ailing since 2009, Ecomatin reveals. The media was thus quoting a letter sent, on February 18, 2021, by Ferdinand Ngoh Ngoh (Secretary-General at The Presidency of The Republic) to Séraphin Fouda, Secretary-General at the Prime Minister’s office.
I have the honor to inform that the President of the Republic has authorized the state to bear the costs of the restructuration of
National Financial Credit (NFC Bank) and Union Bank of Cameroon (UBC). The costs should not exceed XAF29.1 billion for NFC Bank and XAF17.8 billion for UBC, Ferdinand Ngoh Ngoh writes.