(Business in Cameroon) - The agro-industrial gem of northern Cameroon, Société de développement du coton (Sodecoton), plans to increase its working capital budget for fertiliser to 18 billion FCFA in 2015, compared to the previous 10 billion FCFA. This was revealed in an official document issued by the company.

This considerable budget increase for purchasing fertiliser to distribute to Sodecton’s 250,000 farmers should help to increase access to this product that is so essential for improving agricultural yields

Co-managed by the National Cotton Producers’ Confederation of Cameroon (CNPC-C), Sodecton’s working capital fund for fertiliser is financed by the Cameroonian government and the International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank (IDB).

One can recall that via a decree signed on November 4, 2014, President Paul Biya authorised the Minister of the Economy to sign an 8.5 billion FCFA loan agreement with the ITFC to finance the 2014-2015 cotton season.