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Yaoundé - 29 March 2024 -
Agro-industry

Vegetable oil refiners invested CFA30 billion in the sector between 2016 and 2017

Vegetable oil refiners invested CFA30 billion in the sector between 2016 and 2017
  • Comments   -   Thursday, 29 March 2018 14:50

(Business in Cameroon) - The vegetable oil producers, SCR Maya, Azur and SCS-Rafca invested CFA30 billion to increase their production capacity between 2016 and 2017. This is thanks to the incentives provided by the 2013 law on private investments incentives.

According to Cameroon’s oil refiners’ association ASROC which revealed the information during a press conference organized on March 22, 2018, in Yaoundé, these investments were supported by four commercial banks namely, BICEC, the Commercial Bank of Cameroon, Ecobank Cameroon and Société générale Cameroon.

ASROC informed that those four banks lent about CFA18 billion to the above-mentioned producers. The association also revealed that it was difficult for those producers to maximize those investments because imported vegetable oils (which does not respect the standard prescribed by public officials) flood the Cameroonian market.

Brice R. Mbodiam

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