logoBC
Yaoundé - 20 April 2019 -
Agribusiness

Herakles Farms suspends activities in Cameroon

Herakles Farms suspends activities in Cameroon
  • Comments   -   Wednesday, 22 May 2013 18:59

(Business in Cameroon) - On May 18, 2013 Herakles Farms (also known as SGSOC in Cameroon) with operations in Talangaye village, South West of Cameroon, announced that it has suspended work in Cameroon in response to an order it received from Cameroon’s Ministry of Forestry & Wildlife (MINFOF).

The order asked Herakles to stop work at their Talangaye Nursery for an unknown period of time. But, the company, in a statement, said it is “diligently working with Cameroonian Government officials to resolve the matter as quickly as possible.”

Earlier, SG-SOC with a workforce of 690 had ignored an injunction from a MINFOF control mission to stop work it had started before the company was issued an exploitation license.

SG-SOC had planned to cover 73,036 hectares with palms but the civil society and inhabitants criticized the agro-industry on the environmental impact of the project.

On September 17, 2009, Sithe Global Sustainable Oils Cameroon Limited (SG-SOC) signed a contract with the State of Cameroon to open a large palm oil plantation and refinery in the South West Region.

As of now, Herakles Farms estimates that its investment stands at 350 million dollars, approximately 175 billion francs CFA.

Jude Viban

Mags frontpage


Business in Cameroon n74: April 2019

Cocoa: The transformation industry is thriving

Interview with Louis-Paul Motaze, minister of finances



Investir au Cameroun n84: Avril 2019

Cacao : l’industrie de transformation a le vent en poupe

Entretien avec Louis-Paul Motazé, ministre des Finances