(Business in Cameroon) - On May 22, 2018, during an official ceremony in Yaoundé, Cameroon Development Corporation (CDC) signed a convention worth CFA39 billion to acquire heavy equipment.  

According to Benjamin Itoe, president of the company’s board, not only will these machines help increase the production of banana and rubber but, they will also help diversify production by introducing cassava, corn, and pepper.  “We have lands for this purpose but we need equipment”, he said.

This confirms the implementation of a project which was elaborated since 2016 when the price of the traditional products the company used to produce fell on the international market leading to financial difficulties.

Indeed, at the end of the meeting of the administrative board held from August 9 to 10, 2016, the members allowed the general management to diversify CDC’s production.

The board even suggested corn, cassava, and pepper which are profitable and whose production cycle is short.

Let’s note that this decision of the administrative board was issued seven months after the company, now fully owned by Cameroon, was reorganized via a presidential decree published on January 20, 2016. This decree further extended the company’s corporate purpose to include agro-pastoral activities thus opening the door to diversification which seems to be the way to salvation of this agroindustry, whose banana exports decreased by 50% during Q1, 2018.

Brice R. Mbodiam