Core Viewpoint - The Cstar Petroleum project in Kribi, Cameroon, is set to commence partial operations in the second half of 2026, ahead of the original schedule of June 2028, with an initial production capacity of 10,000 barrels per day [2][3]. Group 1: Project Overview - The project, supported by the national oil company, Tradex, and Ariana Energy, aims to construct a refinery with a total capacity of 30,000 barrels per day, which will meet approximately 22% of the national diesel and gasoline demand upon full operation [2][3]. - The project officially started on July 17, 2025, and is expected to cost around 115 billion CFA francs (approximately $204.6 million) [3]. - The project site covers 250 hectares and includes a fuel storage terminal with an initial capacity of 250,000 cubic meters, expandable to 300,000 cubic meters [3]. Group 2: Financial Implications - The project is anticipated to reduce fuel imports by 30%, potentially saving nearly 400 billion CFA francs (about $710 million) annually, with expected export revenues of 141 billion CFA francs (approximately $250 million) primarily from marine fuel [3]. - The financing for the project is being arranged by BGFI Cameroon, which has been tasked with raising 120 billion CFA francs [3]. Group 3: Strategic Importance - This project is part of Cameroon’s "energy sovereignty" strategy, emphasizing the need for local fuel production since the closure of the Sonara oil company [3]. - Once fully operational, the integrated facility aims to meet nearly 70% of local market demand, including the addition of biofuel production capabilities [4].

Core Viewpoint - South Africa's manufacturing output experienced declines both year-on-year and month-on-month in November 2025, attributed to structural pressures on economic growth and weak demand in key industries [1] Group 1: Manufacturing Output Decline - In November 2025, South Africa's manufacturing output decreased by 1.0% year-on-year and 1.1% month-on-month [1] - The wood and wood products, paper, publishing, and printing sectors saw the largest decline, with a year-on-year reduction of 7.9%, contributing to a 0.8 percentage point decrease in overall output growth [1] - The steel, non-ferrous metal products, metal products, and machinery sectors experienced a year-on-year decline of 2.5%, impacting overall output growth by 0.6 percentage points [1] Group 2: Sector Contributions - The motor vehicles, parts, and other transport equipment sector reported a year-on-year decrease of 4.4%, contributing to a 0.4 percentage point decline in overall output growth [1] - Conversely, the petroleum, chemical products, rubber, and plastic products sector achieved a year-on-year growth of 5.5%, enhancing overall output growth by 1.1 percentage points, marking it as the largest contributing sector [1]

Core Points - From January 1, 2026, applicants for Cameroonian passports and vehicle registration must present a tax compliance certificate (ACF) to prove tax obligations are met [2] - This requirement also applies to personal import activities, aiming to enhance tax citizen awareness and increase national revenue by registering taxpayers not currently in the tax system [2] - The informal sector in Cameroon accounts for approximately 45% of GDP but contributes only 5% to tax revenue, prompting the government to implement reforms to include more taxpayers in the tax system [2][3] Taxation Mechanisms - The Ministry of Finance has introduced measures to strengthen withholding tax mechanisms, allowing tax collection at the source during transactions between informal sector businesses and large enterprises [2] - The number of registered taxpayers in Cameroon has increased from 89,741 in 2015 to over 140,000 by July 2021, demonstrating the effectiveness of these reforms [3] - The withholding tax mechanism is expected to mobilize over 50 billion CFA francs (approximately $86 million) annually from informal sector taxpayers [3]

Core Insights - The modernization of the civil service system is a key priority for Cameroon in 2026, focusing on digitalization, salary record cleaning, and personnel optimization [1] Group 1: Administrative Reforms - The Ministry of Civil Service and Administrative Reform is actively pursuing the modernization of Cameroon's administrative system, which employs nearly 292,000 civil servants [1] - The reform emphasizes cleaning salary records, ensuring the reliability of personnel structures, and combating duplicate or false employment through a technology-driven and streamlined approach [1] Group 2: Financial Implications - The rationalization of salary expenditures is part of the reform, with total salary expenses projected to reach 159 billion Central African Francs (approximately 28 million USD) by 2025 [1] - Targeted recruitment will add 2,860 personnel in priority areas such as education, research, prison management, and technical services to align staffing with needs and improve public service quality [1] - Over 50 billion Central African Francs (approximately 8.884 million USD) will be allocated to settle arrears for 180,000 civil servants, contributing to a more efficient and governance-compliant administrative system [1]

Group 1 - The Central African Economic Community (CEEAC) approved a new external tariff (TEC) effective January 1, 2026, in Cameroon, marking a milestone in regional integration [2] - The new tariff rates range from 0% to 40% based on product type, with zero tariffs on grain seeds, aircraft, and related machinery, while live animals and road vehicles are taxed between 5% and 20% [2] - The highest tariff rate of 40% applies to cocoa powder, tobacco products, medical waste, mineral water, and dietary beverages, among others [2] Group 2 - The implementation of a unified external tariff aims to coordinate trade policies and enhance competitiveness within the CEEAC [3] - Despite the new tariff structure, differences remain as value-added tax and consumption tax are still independent of the unified external tariff for member states [3] - Internal trade growth within the region is estimated at only 3% due to lower transaction levels and persistent tariff and non-tariff barriers [3]

Core Viewpoint - The South African government has announced a ten-year phased national strategy to control foot-and-mouth disease, aiming to restore its "non-immunized disease-free zone" status lost in 2019, with a primary goal of reducing the incidence rate in high-risk provinces by over 70% within 12 months [1] Vaccine Procurement and Production Arrangements - The government plans to import 1 million doses of a trivalent vaccine targeting the South African strains (SAT1, 2, 3) from Argentina's Biogénesis Bagó, with a potential additional order of 5 million doses [2] - Collaboration with the Botswana Vaccine Institute has been established, confirming the availability of SAT2 vaccine raw material [3] - Import approval for the Turkish Dollvet vaccine has been granted [4] - Local production lines at ARC and OBP will commence, initially producing 20,000 doses per week, with plans to scale up to a capacity of 960,000 doses [5] - All vaccines will undergo antigen matching tests at the Pirbright Institute in the UK to ensure efficacy [6] Regional Control Measures - In high-risk provinces (KwaZulu-Natal, Gauteng, Free State, North West): Large-scale vaccination will begin immediately, targeting 100% vaccination in feedlots and dairy farms, 90% in commercial farms, and 80% in public grazing areas [7] - In repeatedly infected areas (Mpumalanga, Limpopo): Vaccination will occur every six months in border hotspots, with wildlife monitoring and targeted immunization around protected areas [7] - In medium-high risk provinces (Eastern Cape): Vaccination in hotspot areas will occur every six months, with the establishment of protective zones and enhanced monitoring at markets and slaughterhouses [8] - In Western Cape: Targeted proactive monitoring has commenced since May 2025 [9] - Northern Cape: Currently the only province reporting no outbreaks [10] Technical Support and Traceability System - A digital heat map through the red meat industry service center will track outbreaks in real-time, monitoring suspected cases within a 10-kilometer radius [11] - Collaboration with the Council for Scientific and Industrial Research will advance livestock identification and traceability systems, enhancing animal movement regulation [12] - Strengthening of the laboratory network led by the Agricultural Research Council's Veterinary Research Institute to improve testing efficiency [13] Collaborative Mechanism - A ministerial advisory group on animal disease control has been formed, bringing together experts from government, academia, and the private sector, reporting directly to the value chain roundtable [14] - The strategy emphasizes the importance of close cooperation between farmers and veterinary departments, urging timely reporting of outbreaks and strict adherence to movement controls [14]

Core Viewpoint - The South African National Energy Regulator (Nersa) is seeking public input on Eskom's application for a temporary electricity price reduction for the ferrochrome industry, which is crucial for the competitiveness of local smelting companies [2] Group 1: Application Details - Eskom has submitted a request for a temporary electricity price reduction for the ferrochrome sector, specifically affecting Samancor and Glencore-Merafe, for a period from January 1 to December 31, 2026 [2] - The public consultation period for submitting written opinions ends on January 20, with a public hearing scheduled for January 27 [2] Group 2: Industry Impact - Electricity costs account for 35% to 40% of the production costs in South Africa's ferrochrome industry, significantly impacting the competitiveness of smelting plants [2] - Samancor and Glencore-Merafe declared operational difficulties in February 2025 under the "take-or-pay" clause, leading to a previously approved six-month temporary exemption by Nersa [2] Group 3: Government Response - Due to ongoing market pressures, Eskom has submitted another application for a temporary price reduction in December 2025 [2] - The government is exploring the establishment of a special fund mechanism through the Department of Electricity and Energy to cover the price difference, aiming to prevent additional burdens on regular electricity users [2] - Nersa plans to expedite the review process after public participation to support the smelting companies in restoring stable operations [2]

Core Viewpoint - Bosnia and Herzegovina is experiencing a significant rise in food prices, leading to a situation where "prices are outpacing wages," resulting in a decline in residents' real purchasing power despite nominal wage increases [1] Group 1: Wage Growth and Inflation - In the first ten months of 2025, real net wages increased by 9.3% compared to the same period in 2024, according to data from the Bosnia and Herzegovina Statistical Office [1] - The wage growth is primarily driven by the minimum wage adjustment policy implemented by the Bosnian federal government starting January 1, 2025, which has particularly benefited labor-intensive service sectors like hospitality [1] - Despite the wage increases in certain sectors, the overall surge in prices, especially food prices, has made it difficult for ordinary residents to feel the benefits of real income growth [1] Group 2: Economic Impact on Households - The persistent inflationary pressure is continuously squeezing household disposable income, exacerbating the burden of living costs on society [1]

Group 1 - The Bosnian Federal Government has launched a loan guarantee support program to alleviate financing pressures on businesses [1] - The program offers credit guarantees of up to 50% of the loan principal, aimed at reducing credit risk for financial institutions [1] - The guarantee program is inclusive, covering various business entities such as artisans, individual entrepreneurs, micro, small, medium, and large enterprises, with a special focus on agriculture, food industry, and export businesses [1]

Core Viewpoint - The Bosnian Foreign Trade Chamber is urging the United States to lower tariffs on Bosnian products to at least match the tariff levels between the U.S. and the EU, aiming to create more favorable conditions for Bosnian exporters [1] Group 1: Trade Statistics - From 2020 to 2024, the total trade volume between Bosnia and the U.S. is projected to reach €1.04 billion, with Bosnian exports to the U.S. amounting to €431 million and imports from the U.S. totaling €611 million, resulting in a trade deficit of €180 million and a coverage rate of 70.49% [1] - Bosnian exports to the U.S. have shown consistent growth, increasing from €35.16 million in 2020 to an estimated €120 million in 2024 [1] - In the first quarter of 2025, Bosnian exports to the U.S. reached €92.53 million, while imports were €34.75 million, resulting in a trade surplus of €57.78 million and an impressive coverage rate of 266.30% [1] Group 2: Meeting Outcomes - The meeting between the Bosnian Foreign Trade Chamber and the U.S. Embassy was deemed constructive, with both parties expressing a willingness to continue dialogue and strengthen economic cooperation [1] - This initiative is viewed as a key effort by Bosnia to diversify its trade and improve its long-term trade structure [1]