(Business in Cameroon) - According to the Managing Director of Société de développement du coton (Sodecoton), Abdou Namba, the agro-foods star of northern Cameroon intends to buy 266,400 tonnes of cotton from 250,000 farmers with whom it has a working arrangement in the country’s Extreme-North region.

Mr. Namba indicated that this is essentially the purpose for which the 36.5 billion FCFA raised via the pool of five local banks on January 27, 2015 will be used in the current cotton season. The bank loan will facilitate the payment of farmers a week after their harvest has been sold to Sodecton, compared to the previous 3-month delays.

These extended delays combined with unattractive prices led Cameroonian farmers to sell their produce to neighbouring Nigeria despite receiving loans from Sodection. This practice often compromised local production, creating considerable losses in revenue for Sodecton.