Feicom distributed 76.6 billion FCFA to Cameroonian municipalities in 2014

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Feicom distributed 76.6 billion FCFA to Cameroonian municipalities in 2014

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- Tuesday, 21 July 2015 03:08

(Business in Cameroon) - Although it had planned to distribute only 60.3 billion FCFA in municipal additional cents in 2014, the Inter-municipal Special Intervention Fund (Feicom in French) provided Cameroonian municipalities with a total of 76.6 billion FCFA. This was announced by Feicom.

Feicom officials attribute this to more efficient fundraising which involved additional cents and other municipal taxes subject to equalisation (ICSP). This performance can be improved or at least replicated this year.

Indeed, according to figures revealed by Feicom, the Cameroonian municipal bank, revenue for the first half of 2015 reached 68.4 billion FCFA at the end June, against initial forecasts of only a little over 50 billion FCFA.

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