The President of the Senate, Marcel Niat Njifenji on April 3, 2019 chaired a plenary sitting dedicated to the adoption of more bills forwarded by the Speaker of the National Assembly.
Senators were once more busy last night as they assembled in the House Chamber to adopt bills. The plenary sitting that started around 5: 00 p.m. was chaired by the President of the Senate, Marcel Niat Njifenji in the presence of the Minister Delegate at the Presidency in charge of Relations with the Assemblies, Wakata Bolvine. The first bill examined was that to ratify Ordinance No. 2018/4 of 20 December 2018 to amend and supplement some provisions of Law No. 2017/21 of 20 December 2017: Finance Law of the Republic of Cameroon for the 2018 financial year. The Minister of Finance Louis Paul Motaze defended the bill.
The ordinance authorises the Minister of Fi nance to sign all documents to transfer by mutual agreement to Africa50, 50 per cent of the shares held by the Republic of Cameroon in the capital of Nachtigal Hydro Power Company. Government states that in July 7, 2016, the Republic of Cameroon, Electricité de France International (EDF) and the International Finance Cooperation (IFC) established the Nachtigal Hydro Power Company (NHPC) to jointly implement a 420 megawatt hydroelectric power development project on the Nachtigal upstream site as part of a publicprivate partnership. The capital of the company is held by the three shareholders.
The Minister explained that to ease the strain on the State’s cash position, it was decided that 50 per cent of the shares held by the State should be transferred to Africa50, a financial institution affiliated to the African Development Bank, for a maximum price of 6 million Euros. The ordinance is therefore intended to make the transfer possible. By the time of going to press two other bills were programmed to be examined and adopted by the Senate.
One was to authorise the ¨President of the Republic to ratify the Agree ment between the Government of the Republic of Cameroon and the Government of the Socialist Republic of Vietnam relating to visa exemption for holders of diplomatic, official or service passports. The other bill was that to authorise the President of the Republic to ratify the African Charter on the values and principles of decentralisation, local
- 25 juin 2019 14:06
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