By Eratus Ndueh
In his end-of-year message broadcast on December 31, 2023, President Paul Biya announced that the government would reduce the FCFA 640 billion fuel subsidy, meaning that the upcoming months will be hard for Cameroonians, especially businesses.
By February 2024 the price for a litre of fuel at the pump shall be 860 FCFA instead of 730 – this means an increment of 130FCFA. This situation will lead to more economic hardship.
Recently, Azur S.A. announced that they will place part of its employees on technical unemployment starting Monday, January 8, 2024.
Azur S.A. is a palm oil-based agri-food production company that produces soap, margarine, and vegetable oils. Its products are on sale in Cameroon and other countries in Central Africa.
According to an official statement from the company, the economic situation rocking Cameroon at the moment has pushed the company to drastically reduce its activities. The technical unemployment shall last for six months, but there was no clarification on h
ow many employees would be affected and if they would resume work after the said six months.
For the staff concerned, the company reinitiated that they will be paid as specified according to Cameroonian law setting the compensation rates during the period of suspension of technical unemployment, the salary will take into account the basic salary increased by the seniority bonus.
Azur has set the ball rolling, pundits expect more hardship and similar scenarios in other institutions. With the gradual reduction of fuel subsidies, experts say by 2025, Cameroon will completely remove fuel subsidies due to pressure from the IMF, thereby plunging the country into more economic hardship.
Source: Cameroon News Agency
Addis Ababa: Religious fathers conveyed Christmas best wishes and messages to their faithful today.
In a message conveyed in connection with Christmas, the religious fathers urged their faithful to give hands to the needy persons and show love and compassion to all humanity.
They also urged the general public to stand together to bring about lasting peace in the country.
Ethiopian Orthodox Tewahido Church Patriarch, His Holiness Abune Matias said Christmas is an emblem of peace to the faithful.
The patriarch added that faithful of the church should celebrate the holiday in unity and peace, discharging responsibility to uphold peace.
His Grace Abune Berhaneyesus Sufafel, Cardinal of the Ethiopian Catholic Church on his part said that the birth of Christ is an indication of God’s love to all humanity and creatures.
Secretary General of Council of Ethiopian Evangelical Churches, Rev. Dereje Jenberu on his part said that the faithful should give hands to those who are need of assistance.
Source: Ethiopian
News Agency