(Business in Cameroon) - BVMAC-listed African Agricultural Forestry Company of Cameroon (Safacam) announced it has just launched a call for applications to appoint a director representing minority shareholders on the Board of Directors. Applications from interested candidates are expected until August 15, 2022, we learned.
"This position is open to all shareholders, regardless of the number of shares they own, without distinction of social class, gender, or religion," the company said. The move will allow Safacam to involve minority shareholders more in the decision-making process.
Safacam is a subsidiary of the Luxembourg-based Société financière des caoutchoucs (Socfin) and is an agro-industrial unit specialized in the production of palm oil and rubber in Cameroon. It is one of the first companies to be listed on the stock exchange both in the country and in Central Africa, and currently has a market capitalization estimated at CFA27.3 billion. After a difficult year in 2020, marked by the Covid-19, Safacam achieved a net profit of CFA2.4 billion in 2021, up 72.5% year-on-year.