logoBC
Yaoundé - 27 July 2021 -
Agriculture

Cameroon: CDC to renovate 520 hectares of banana plantations this year

Cameroon: CDC to renovate 520 hectares of banana plantations this year
  • Comments   -   Tuesday, 06 April 2021 16:45

(Business in Cameroon) - Between April and June 2021, Cameroon’s banana production will increase, according to the Q2-2021 business cycle analysis recently published by the Bank of Central African States (BEAC). The same source informs that this rise will be noticed in all of the country’s production areas, ‘including the Southwest, where the main producer plans to renovate 520 hectares [of banana plantations] in 2021.’  

In the Southwest, the main banana producer is none other than state-owned agribusiness company Cameroon Development Corporation (CDC). CDC, which also exploits rubber and oil palm plantations, has been the main victim of the socio-political crisis ongoing in the Northwest and Southwest regions since late 2016.

During the crisis, separatists militias converted CDC plantations into training camps, assaulted workers found in the plantations, and burnt the company’s processing and storage units. Because of the insecurity, the top management decided to suspend operations. Therefore, between September 2018 and May 2020, CDC was out of the banana production market in Cameroon.

As a result, the company, which usually injects an average of XAF500 million into the Southwestern region’s economic circuit, recorded a XAF60.9 billion revenue shortfall between 2016 and 2018, according to the technical committee for the renovation of para-public enterprises (CTR).

The same source informs that due to the Anglophone crisis, CDC recorded a XAF17.9 billion net loss in 2019, while its cumulated wage debt was XAF14.5 billion.

In May 2020, CDC resumed banana production but its performance till now is somehow unsatisfactory. According to figures published by the Banana Association Cameroon (ASSOBACAM), over the 9 months from June 2020 to February 2021, CDC exported only 9,521 tons of banana. By renovating 520 hectares of banana plantations, it will effectively relaunch its operations after the problems caused by the Anglophone crisis.

Brice R. Mbodiam

public-finance-cameroon-organizes-its-first-ever-mid-term-budget-execution-conference
On July 21, 2021, in Yaoundé, the Ministry of Finance organized a budget conference to review the execution of the 2021 budget. This conference aims to...
cameroon-to-organize-an-investors-roundtable-in-sep-2021-to-fund-the-construction-of-291-km-of-railroad
Cameroon is currently planning an investors roundtable to source financing for the construction of chemin de fer Edéa-Kribi-Campo (184.5 Km), and...
cameroon-moves-to-relaunch-the-construction-of-55-steel-bridges-in-the-10-regions
Minister of Public Works (MINTP) Emmanuel Nganou Djoumessi (photo) presided, on July 21, 2021, a videoconference aimed at reviving the project of building...
swiss-perfume-company-firmenich-commits-to-sharing-profit-generated-from-cameroonian-genetic-resources
The Swiss perfume and taste company will soon launch research works for the exploitation and commercialization of two plants located in Pimbo, Sanaga...

Mags frontpage


Business in Cameroon n101: July-August 2021

The UK makes strategic moves in Cameroon


Alamine Ousmane Mey: “8% yearly growth over 10 years is a realistic target


Investir au Cameroun n111: Juillet - Août 2021

La Grande Bretagne avance ses pions au Cameroun


Alamine Ousmane Mey : « 8% de croissance annuelle sur 10 ans est un objectif tout à fait réaliste »