logoBC
Yaoundé - 24 October 2021 -
Agro-industry

Cameroon: Government spent XFA1.2bln to pay 7 months of salary arrears to Pamol staff

Cameroon: Government spent XFA1.2bln to pay 7 months of salary arrears to Pamol staff
  • Comments   -   Friday, 11 January 2019 16:05

(Business in Cameroon) - Cameroon’s agro-industrial company Pamol reports that the government has approved XFA1.2 billion to help clear seven months of wage arrears, and other disbursements are underway.

79% state-owned Pamol is pleased by this government support as the company suffers the security crisis that has been plaguing the southwest since November 2016; A situation that does not allow Pamol to produce at actual capacity though the company has made investments in 10,000 hectares (ha) of oil palm trees. As a result, it failed to pay salaries.

Since 2015, Pamol has been seeking the necessary financing to set up a palm oil production unit with a capacity of 30 tons of oil per hour. To this end, a XAF14-billion agreement was signed with the State to build a soap factory, rejuvenate palm oil plantations, and create new ones, including 500 ha in the peninsula of Bakassi.

S.A

westend-farms-inaugurates-its-ndokoa-integrated-pork-production-and-commercialization-center
On October 20, 2021, Minister of Livestock, Dr. Taiga officially inaugurated the integrated pork production and marketing center built by Westend Farms,...
cameroon-beac-forecasts-revival-of-sales-and-production-in-the-logging-sector
After a challenging environment in 2020, due to the coronavirus pandemic, the recovery observed in Cameroon's economic landscape since the beginning of...
exports-php-to-start-generating-more-revenues-as-early-as-january-2022-thanks-to-a-fairtrade-decision
In January 2022, the export prices of local banana producer Plantations du Haut Penja (PHP) will increase. This price increase is the result of a decision...
cameroon-announces-public-accounting-and-budgeting-reform-to-improve-management-transparency-and-prevent-accumulation-of-payment-arrears
 In January 2022, Cameroon will begin to experiment with a new accounting reform called accruals-based accounting and budgeting in the framework of...

Mags frontpage


Business in Cameroon n104: October 2021

Dossier Where does Cameroon stand in international trade?


Henri-Claude Oyima : “BGFIBank Cameroon is truly one of our success stories.”


Investir au Cameroun n114: Octobre 2021

Dossier La place du Cameroun dans le commerce international


Henri-Claude Oyima : «BGFIBank Cameroun est vraiment l’une de nos success-stories.»