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Yaoundé - 28 March 2024 -
Agriculture

Sogescol to sell Cameroonian Socapalm and Safacam palm products

Sogescol to sell Cameroonian Socapalm and Safacam palm products
  • Comments   -   Monday, 01 June 2015 07:43

(Business in Cameroon) - Both listed on the Douala Stock Exchange (DSX), Socapalm and Safacam shareholders are soon to adopt “trade representation” agreements, signed on June 30, 2014 between Socapalm and Safacam and the Swiss trading company Sogescol FR.

According to the terms of these agreements, Sogescol FR will focus solely on “the sale of palm products” produced by Socapalm and Safacam while the latter will also produce rubber.

The two above-mentioned partnerships appear to be due to the agro-industrial group Socfin’s (Société financière des caoutchoucs) increased control of Socapalm and Safacam. Socfin is the majority shareholder in the three corporate signatories of the convention with 65% (of which 63% is through Palcam and 2% through Socfinaf) and 69% ownership (via Safa France) respectively in Socapalm and Safacam. At the same time, Socfin has a 50% stake in Sogescol FR’s capital.

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