logoBC
Yaoundé - 25 April 2024 -
Agriculture

CDC expected to partially resume activities in Q3, 2019

CDC expected to partially resume activities in Q3, 2019
  • Comments   -   Monday, 29 July 2019 14:33

(Business in Cameroon) - On July 25, 2019, Cameroon Development Corporation (CDC)’s de Mafanja I packing station in Tiko, Southwest Cameroon, was in a sad state. Only the guards were visible at what remains of CDC’s largest packing station.

The ground of the large uncovered area was full of old boxes, which were used to pack the renowned Makossa banana, before that fateful night of August 2018 when Anglophone separatists burnt the packing unit.

Since then, there has been no banana shipment to Mafanja I. In addition, the 3,715 hectares of CDC’s banana plantations are abandoned. Only the infirmary is still functional and providing treatments for employees, most of whom have had their fingers cut off by secessionists.

By cutting the employees’ fingers, the secessionists wanted to stop them from coming to the company’s banana, rubber and oil palm plantations. Some of these plantations have even been converted into training grounds for the secessionists who have been violently requiring the country’s partitioning for two years now.

As a result of this violence, during the 2018 fiscal year, CDC recorded a net loss of XAF32 billion, according to Christopher Ngalla, manager of CDC’s banana department. This is an economic catastrophe since an average of XAF500 million is injected into the Southwestern region’s economy every month, the manager added. So, the banana sector has been militating for the resumption of CDC’s activities.

According to our sources, recently, instructed by the president, there has been many meetings in the offices of the prime minister to discuss the subject. Sources close to the case even foresee an activity resumption in Q3, 2019, on about 1,000 hectares for a start at least.

According to CDC’s management, XAF29 billion is needed to bounce back. In detail, Franklin Ngoni Njie, its general director explains, XAF7 billion is needed in the rubber sector, XAF14 billion in the banana sector and XAF7 billion for the palm oil sector. The remaining XAF1 billion is to be used to pay salary arrears.

Brice R. Mbodiam

cameroon-s-red-cocoa-nears-labeling-as-oapi-awaits-coloration-analysis
The Cameroon red cocoa, listed in 2019 as a product eligible for geographical indication (GI), has progressed towards labeling by the African Intellectual...
cameroon-poultry-expo-revives-focus-on-industry-transformation
The 2024 edition of the Yaoundé International Poultry Exhibition (Savi) kicked off on April 23 at the Congress Palace. The event organized by the Cameroon...
beac-s-bond-auction-meets-success-in-inflation-combat-efforts
On April 22, the Central African Central Bank (Beac) concluded a successful 14-week bond issuance worth CFA50 billion. This move, offering a 2.5% interest...
cameroun-delays-bond-sale-amid-regional-market-strain
The Cameroon government has postponed its planned 2024 bond sale, originally slated for April, due to market saturation caused by Gabon and the Central...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »