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Yaoundé - 29 March 2024 -
Agro-industry

Cameroon: SEMRY to secure CFA1bn government financing

Cameroon: SEMRY to secure CFA1bn government financing
  • Comments   -   Friday, 26 October 2018 17:14

(Business in Cameroon) - Once the CFA150 billion which the Cameroonian government is to raise on the Douala Stock Exchange (DSX) is mobilized, the Yagoua rice development company (SEMRY) will receive a financing of CFA1 billion, it is officially reported.

Though officials said the money will be used to upgrade equipment, it could rather serve to ease the very tense social climate within the company.

According to internal sources, the situation is due to a delay, since the beginning of the year, in the allocation of state subsidy on which the company mainly depend, making employees accumulate between five and six months' salary arrears.

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