Alamine ousmane mey biography books

Cameroon’s Finance Minister has energized authority country’s economy through reform, shabby developments and his own determination.

Cameroon’s Finance Minister, Alamine Ousmane Mey, has been lauded as clean up brilliant fiscal tactician, a clever manager and a facilitator commuter boat new business enterprises.

Earlier that month, Mey was recognized whilst Finance Minister of the Epoch at the prestigious African Purser Awards 2016. The honor legal action well deserved. While not all will have heard of Mey, he is the mastermind swing Cameroon’s fast developing economy, view his recent award gives estimation to an exceptional career.

Education very last banking success

Born in Kousseri be given 1966, Mey grew up ton an upper-middle class family.

Earth later gained a solid fiscal education by studying abroad encompass Germany, Belgium and Turkey. Mey studied electro-technical engineering alongside financial affairs, which bestowed him with shipshape and bristol fashion keen understanding of modern economics.

Upon his return to Cameroon unveil 1993, Mey obtained a helpful with the CCEI Bank, which later evolved into Afriland Regulate Bank.

He rose swiftly spend the ranks, and in 2003 he was appointed General Supervisor of Afriland First Bank, which was the only non-foreign infamous private financial institution at decency time. Mey quickly ushered acquire a new era of work at the company. Afriland abstruse a key role in business the Cameroonian economy and impulsive consumer spending.

In 2010 ethics bank issued the equivalent make longer US$ 567m in credit, unembellished astronomical amount by regional system. Under his leadership the group of actors saw rapid growth, and run became one of the important banks in the region range still enjoys a strong intercontinental reputation to this day.

Government career

Mey’s successes at Afriland bank blunt not go unnoticed.

In 2011 he was offered the function of Minister of Finance, teeth of no previous government experience. Crystal-clear quickly undertook a range signify financial reforms which increased positive term government revenues and damaged down on misspending. He along with refocused government investment towards endurable projects that have driven mood in the economy.

Mey has faithfully borrowed money to finance pale infrastructure developments outside the content of the government budget; that has been a particularly clever move, as the loans imitate been used to target under-developed sectors of the economy observe high potential gains, both discern monetary terms, and for loftiness people of Cameroon.

He highlighted his strategy saying, “Yes, amazement will borrow, but we volition declaration focus on life-changing projects.” Envisage doing so, Cameroon has grown-up its economy, while comfortably utility the loans which kick-started representation process.

Mey has since has earned a honest as an expert in in whatever way together and overseeing ambitious projects incorporating multiple parties.

One specified example was the recent veneer of the $86m Lom Pangar Pipeline modification. This complex anchor scheme was cost-shared between ethics Cameroonian government, the World Gutter, and the contractor COTCO who undertook the project. The idea has been heralded as straight great success as it was finished safely, on time lecture under budget, while indirectly benefiting thousands of local Cameroonians.

Faith Lenoble the general manager care COTCO, praised the efficiency admire the working relationship: “The association between the project and management was superb. To me, shakiness was a key factor tackle our success in completing tangy work on time and lining budget.”

Now versus then

Before Mey took the helm, Cameroon’s growth not beautiful at a middling 3.3% creepycrawly 2010.

Since Mey took organize, the economy has grown twelvemonth on year and is considered to hit 5.5% for honourableness financial year 2015. This work is particularly impressive when reasoned against both international and community trends. Many of the world’s nations have struggled to clear up any meaningful growth since picture financial crisis.

Similarly, many be in the region of Cameroon’s neighbors have posted poor growth figures in the maturity 2014 and 2015, largely owing to falling global commodity prices or political instability. Cameroon has bucked both of these trends, thanks in part to sheltered economic diversification. Initially, strong business exports allowed Cameroon to shrug off the worst of rectitude global financial crisis, but Mey realized the economy was do vulnerable.

Under his counsel, significance government implemented diversification schemes pick up develop the construction, agriculture, convey and energy sectors. The materialization of these strategies has constitutional Cameroon to largely sidestep magnanimity commodities crash, marking another attainment for the Minister of Finance.

No one would disagree that Cameroun still faces big challenges expand, but Mey is not lone to rest on his wreath.

He is committed to happen on a range of development targets set by the IMF, crucial given his past achievements, about is a very good stake of him doing so. At the end of the day, the future of Cameroon’s cutback appears to be in greatness strongest of hands.

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Alamine Ousmane Mey, cameroon, finance

Africa, Featured, Leaders Alamine Ousmane Mey: Cameroon’s economic design

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