Coronavirus: United Kingdom, facing worst recession on record, sees GDP drop 20.4% in Q2

The UK has seen its economy, hit by the coronavirus crisis, suffer a "record" contraction of 20.4% in the second quarter, and is officially facing its worst recession on record, agency figures show National Statistics (ONS), published Wednesday 12 August. 
Economists consider that a country enters a technical recession when it accumulates two consecutive quarters of contraction in its economy. According to the ONS, most of the contraction, which began to be felt in March, occurred in April, an entire month of containment and almost total cessation of activity in the country, which saw production collapsed by 20%.

With a very early recovery in construction sites and manufacturing activity, gross domestic product (GDP) rebounded in May by 2.4% (revised figure), followed by an acceleration in June (+8.7 %) thanks in particular to the reopening of all shops. This is the biggest contraction in the UK economy since the ONS began these quarterly statistics in 1955, he said…

Orange Cameroon launches mobile money transfer in the CEMAC zone

With its operation Entitled "Open Wallet", the telecommunications group Orange Cameroon, has just launched its mobile money transfer system between Cameroon, Gabon and Equatorial Guinea.

Orange Cameroon launches mobile money transfer in the CEMAC zone

From now on, subscribers to the mobile money services of this operator will be able to carry out transactions outside Cameroon. This initiative, which is currently possible in the three countries, is planned for the entire Cemac zone. This is what the company specifies in a note to its subscribers.

The operator told a local media that its partners involved in this process are Airtel Gabon, CCEI Bank in Equatorial Guinea and the Interbancaire monétique de l'Afrique Centrale (Gimac) group. A mode of operation approved by the Bank of Central African States (BEAC).

Indeed, last March, as an aid to the response to COVID -19, the BEAC recommended lowering the costs of electronic money transactions and digital payments in Central Africa. A recommendation supported by the interoperability of these operations possible for two years. Until then, only the banks had seized the opportunity properly, while the telephones also authorized for this were lagging behind.

With this launch of the Orange "Open Wallet", we have to believe that things are changing and that the awareness-raising workshops and working sessions organized by GIMAC in view of this reality, have finally achieved the objective.