Ally of Cameroon president, 92, quits 'broken' government to challenge him
Just four months before the central African nation goes to the polls, Bakary says the Biya administration he was part of has "broken" public trust and he is switching to a rival political party.
"A country cannot exist in the service of one man," Tchiroma said on Wednesday.
While he was communications minister, Bakary notably came under fire for denying - then backtracking on his denial - that Cameroonian soldiers had killed women and children in a viral video verified by BBC Africa Eye.
His other roles during almost two decades in government include being a spokesman for the Biya government and, until his resignation on Tuesday, he was employment minister.
Paul Biya - the world's oldest head of state - has yet to confirm if he will stand for president a seventh time. Last year, the country banned reports on the president's health following rumours that he had died.
As this election approaches, high unemployment and soaring living costs are of concern to many Cameroonians, as are corruption and security. A separatist insurgency in the English-speaking provinces as well as jihadists operating in the northernmost region have forced many thousands of Cameroonians from their homes in the past decade.
Cracks in Bakary's relationship with President Biya were blown open earlier this month, when he told crowds in his home city of Garoua that Biya's time in power had not benefitted them in any way.
Bakary continued this criticism in a 24-page manifesto released a day after his resignation, promising to dismantle the "the old system" so that Cameroon could move beyond "abuse, contempt, and the confiscation of power".
One of his proposed solutions is federalism - he is offering to hold a referendum on devolving more power to Cameroon's 10 provinces. This has long been mooted by many as a solution to the country's so-called Anglophone crisis.
Specifically addressing English-speaking Cameroonians, he said "you do not need people to speak for you - you need to be listened to" and that "centralisation has failed".
Bakary also used his manifesto to say Cameroon "has been ruled for decades by the same vision, the same system. This model, long presented as a safeguard of stability, has gradually stifled progress, paralysed our institutions, and broken the bond of trust between the state and its citizens".
As the October presidential election approaches, rights groups have condemned the government's crackdown on dissent.
Shortly after Bakary announced his plans to run for the presidency, the government reportedly announced a ban on all political activities by his Cameroon National Salvation Front (CNSF) party in a sub-district of the Far North region - a part of the country where he is said to be an influential power-broker.
Weeks earlier, fellow presidential hopeful Maurice Kamto had his movements curtailed during a two-day police stakeout in Douala, after promising supporters at a rally in Paris that he would protect Biya and his family if he wins in October.
Parliamentary elections that were also supposed to take place earlier this year have been delayed until 2026.
Reaction to Bakary's presidential bid has been mixed - some think he is canny.
"By positioning himself as the elder statesman who 'saw the fire coming', Tchiroma is hedging that his break with Biya will be seen as bold - not opportunistic," Cameroonian analyst and broadcaster Jules Domshe told the BBC.
"From economic fallout to youth unemployment, insecurity, and growing unrest in the North-West, South-West, and Far North [regions], Cameroon is ripe for change."
Opposition voices are divided - some want Bakary to support Kamto, who was the runner-up in 2018 with 14% of votes. But others say Bakary is tainted by his long association with Biya.
"He cannot embody change... He was part of the system for too long. The youth do not trust him," says Abdoulaye Harissou, a legal notary and prominent critic once detained by the government.
Another member of the opposition - Jean Michel Nintcheu of the APC coalition - simply said: "We don't see Tchiroma as a potential winner."
'Nowhere is safe' - Cameroonians trapped between separatists and soldiers
Art curator Koyo Kouoh dies at height of career
The lawyer risking everything to defend LGBT rights
Paul Biya: Cameroon's 'absentee president'
Go to BBCAfrica.com for more news from the African continent.
Follow us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica
Focus on Africa
This Is Africa
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 hours ago
- Yahoo
Japan Investors Brace for BOJ, Earnings After Trump-Fueled Rally
(Bloomberg) -- Japan's surprise trade deal with the US sent its markets on a wild ride, pushing stocks to all-time highs and fueling a selloff in government bonds. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Automakers' shares led a market-wide surge after US President Donald Trump announced the deal on Wednesday. The broad Topix index hit a record close. Investors, finally having some good news, seemed to largely ignore thorny questions about the details of the trade deal, let alone the tenuous position of Prime Minister Shigeru Ishiba following a recent election setback. But as the dust settles and focus returns to problems closer to home, investors are questioning whether the rally was a sign of things to come — or just a blip for a market that is facing multiple sources of volatility in the coming weeks and months. 'The deal came and there was this immense relief, and now markets are saying: 'hang on, not too much',' said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. 'It's a relief that we didn't bleed to death. But we are still in triage, if not the ICU.' The headache for investors in Japan is that almost every piece of good news comes with a caveat. The trade deal was a clear win, but the 15% tariffs facing Japanese companies are still well above their level at the start of the year. The economy may get a boost, but that could in turn speed up interest rate hikes. The deal removes one reason for Ishiba to cling to power — since he had made clear he wanted to get it done while in office — but the win means he now has a better case for hanging on. That has shifted attention to some major events in the coming days, which will offer clues to the direction of travel for a stock market that has underperformed its regional peers this year. The Bank of Japan's monetary policy announcement on Thursday, although unlikely to result in a rate change, will be scrutinized for hints that the central bank may hike as early as September. That could hit both bond and stock prices. Investors will also be focused on corporate earnings, with Fujitsu Ltd., Tokyo Electron Ltd. and Nissan Motor Co. Ltd. among the companies set to report. Those earnings will be far too early to gauge the impact of the trade deal, but they will help investors get a sense of how strong Japanese companies are as they prepare for a prolonged period of higher tariffs — however good the figures might look compared to the worst case scenario. The 15% tariff on Japanese goods, including autos, was a relative reprieve from earlier threats of 25% or higher. Japan also agreed to invest $550 billion into the US as part of the deal, a vague pledge that has left market participants guessing at the potential details. 'You've certainly got the makings of an extended rally,' said Pelham Smithers, an analyst who runs an eponymous Japan equity research firm in the UK. 'But the bigger questions will be Bank of Japan policy, and whether Trump backtracks on this tariff deal.' Fiscal Fears Smithers, who was engrossed in the video-game Civilization when news of Trump's Japan deal broke, says his 'army of sales people' were swamped with calls from clients asking for updates on Japan's market. The enthusiasm is understandable. After trading sideways for most of July, the Topix Index jumped 4% over the course of the week, notching a new all-time high. Toyota Motor Co.'s shares posted their biggest intraday gain since 1987. SoftBank Group Corp.'s shares hit a record high. Japan's 10-year bond yields reached their highest level since 2008 after the trade deal was announced. Two-year yields, which are sensitive to changing interest rate expectations, also jumped. 'The tariff news was a complete positive surprise,' said Hisashi Arakawa, director and head of equities at abrdn Japan Ltd. 'I didn't expect the market to move that quickly.' The outlier to the wild moves was the yen, which fluctuated between gains and losses as traders digested the news. Caution was returning to the stock market by the end of the week, with both the Nikkei 225 index and the Topix closing down almost 1% Friday, part of a wider decline in Asia. One major concern is that the weakened government — whether led by Ishiba or someone else — may give in to opposition calls for tax cuts, worsening Japan's already stretched fiscal position. Worries about government finances have weighed on global debt markets in recent months, hitting Japan's ultra-long bonds alongside those in the US and elsewhere. Local media reports that Ishiba will soon announce his resignation have fueled these concerns, although he denied the reports. For now, investors in Japan have more questions than answers. The country's trade relationship with the US is, more or less, clear. But almost everything else remains in flux, and market watchers think the recent rally may reflect hope more than reason. 'We all need to cool our heads and regroup,' said Yusuke Sakai, a senior trader at T&D Asset Management in Tokyo, who called the stock rally a knee-jerk reaction. --With assistance from Momoka Yokoyama. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Upper Middle Class
There are many questions that don't have simple answers, either because they're too complex or they're hypothetical. One such question is what it might mean for billionaires to pay taxes at the same rate as the upper middle class, whose income starts, on average, at around $168,000, depending on where you live. Find Out: Read Next: ChatGPT may not be an oracle, but it can analyze information and offer trends and patterns, so I asked it what would happen if billionaires were required to pay anywhere near as much as the upper middle class. Here's what it said. A Fatter Government Larder For starters, ChatGPT said that if billionaires paid taxes like the upper middle class, the government would bring in a lot more money — potentially hundreds of billions of dollars more every year. 'That's because most billionaires don't make their money from salaries like upper-middle-class workers do. Instead, they grow their wealth through investments–stocks, real estate, and businesses–which are often taxed at much lower rates or not taxed at all until the assets are sold,' ChatGPT told me. Billionaire income is largely derived from capital appreciation, not wages. In other words, they make money on their money through interest. And as of yet, the U.S. tax code doesn't tax 'unrealized capital gains' so until you sell your assets, you could amass millions in appreciation and not pay a dime on it, ChatGPT shared. Learn More: What Do Billionaires Pay in Taxes? Right now, many billionaires pay an effective tax rate of around 8% or less, thanks to loopholes and tax strategies. Meanwhile, upper-middle-class households earning, say, $250,000 might pay around 20% to 24% of their income in taxes. (Keep in mind that the government doesn't apply one tax bracket to all income. You pay tax in layers, according to the IRS. As your income goes up, the tax rate on the next layer of income is higher. So you pay 12% on the first $47,150, then 22% on $47,151 to $100,525 and so on). So, if billionaires were taxed at the same rate as those upper-middle-class wage earners, 'it would level the playing field–and raise a ton of revenue that could be used for things like infrastructure, education or healthcare,' ChatGPT said. The Impact on Wealth Equality I wondered if taxing billionaires could have any kind of impact on wealth equality, as well. While it wouldn't put more money in other people's pockets, 'it could increase trust in the tax system, showing that the wealthiest aren't playing by a different set of rules,' ChatGPT said. It would also help curb 'the accumulation of dynastic wealth,' where the richest families essentially hoard wealth for generations without contributing proportionally to the system. But it's not a magic bullet. 'Wealth inequality is rooted in more than just taxes–wages, education access, housing costs, and corporate ownership all play a role,' ChatGPT said. Billionaires paying taxes doesn't stop them from being billionaires, either, it pointed out. Taxing Billionaires Is Not That Simple While in theory billionaires paying higher taxes 'would shift a much bigger share of the tax burden onto the very wealthy,' ChatGPT wrote, billionaires are not as liquid as they may seem. 'A lot of billionaire wealth is tied up in things like stocks they don't sell, so taxing that would require big changes to how the tax code works.' Also, billionaires are good at finding loopholes and account strategies — it might be hard to enforce. What's a Good Middle Ground? We don't live in a black and white world, however. There's got to be a middle ground, so I asked ChatGPT if there is a way to tax billionaires more, even if it's not quite how the upper middle class are taxed. A likely compromise would come from a policy decision, which isn't likely to be forthcoming anytime soon. President Donald Trump's One Big Beautiful Bill only offered more tax breaks to the wealthiest. However, policy proposals that have been floated, include: A minimum tax on billionaires where they might pay around 20% of their overall income Limiting deductions and closing tax loopholes that allow them to significantly reduce taxable income Tax unrealized gains (those assets that have only earned but not yet been sold), gradually. ChatGPT agreed that billionaires could pay more than they currently do, even if they don't pay exactly what upper-middle-class workers pay in percentage terms. 'The key is to design policies that are fair, enforceable, and politically feasible.' I asked how realistic such policy proposals are, and ChatGPT told me what I already knew: They're 'moderately realistic' but only with the 'right political alignment.' More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Upper Middle Class Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información


Bloomberg
9 hours ago
- Bloomberg
France Maintains Tough Stand on Israel Despite Pause in Gaza War
French Foreign Minister Jean-Noël Barrot said the European Union is having 'tough discussions' with Israel to help speed humanitarian and financial aid to Palestinians in war-ravaged Gaza. The Israeli government has made 'first commitments that have not been fulfilled yet,' Barrot said on CBS's Face the Nation on Sunday. 'We expect the Israeli government to stop the operations of the Gaza Humanitarian Foundation that has caused a bloodbath in humanitarian help distribution lines in Gaza.'