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Yaoundé - 24 September 2018 -
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Cameroon : Magzi to cancel the contracts of companies owing it

Cameroon : Magzi to cancel the contracts of companies owing it
  • Comments   -   Friday, 06 July 2018 18:15

(Business in Cameroon) - The total unpaid rent owed by various companies established at Cameroon’s industrial zones is estimated at CFA600 million. This was revealed by Georges Christol Manon (on the left), director of Mission d’aménagement et de gestion des zones industrielles (Magzi), in charge of the management of those industrial zones, in a formal notice sent to those companies.

In that notice, the director requires them to pay the loans according to the terms of their lease contract by July 31, 2018.

“We can still wait for those who own six months of loans but, starting from next year, we will have to take measures because things are very difficult for us. Truly, this is not the first time we are sending such notices. This time, because of the harms those debts constitute for us, we will cancel the contracts we have signed with those companies and they will be expelled, he said in an interview with the government daily.

According to the daily, Magzi has already canceled the contract of 24 companies while more than 60 were sent eviction notices. “Once their contracts have been canceled, they are allowed up to 6 months to destroy their building or we lease them to another client”, M. Manon explained.

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