Yaoundé - 08 December 2019 -

Medcem Cameroon adds XAF17 bln to its capital, creating 1.759 mln new shares

Medcem Cameroon adds XAF17 bln to its capital, creating 1.759 mln new shares
  • Comments   -   Tuesday, 23 July 2019 18:14

(Business in Cameroon) - Turkish group, Eren Holding’s Cameroonian subsidiary Medcem Cameroon, recently increased its capital from XAF400 million to XAF17.5 billion. With this increase, the subsidiary is creating 1.759 million new shares with a nominal value of XAF10,000.

Medcem explains that the new capital was raised from trade receivables and incorporation of shareholders’ current account.

Currently, the company is the smallest cement producer in Cameroon with an annual production capacity estimated at 200,000 tons, far behind Cimencam (2 million tons), Dangote (1.5 million tons) and Cimaf (500,000 tons).

Based on this year’s production capacity projected by operators in the sector, the minister of economy ranked Dangote (45%) as leader of the market. This was followed by Cimencam (30%), Cimaf (22%) and Medcem (3%).

Sylvain Adzongo

On December 4, 2019, the Cameroonian Treasury proceeded to the issuance of a 26-week fungible treasury bills on the market of the Bank of Central African...
In Cameroon, 35% of the 835 gas stations in operation as of October 28, 2019 (for the 54 state-approved companies), are located in rural areas. This was...
In Cameroon, the national drinking water production increased from 731,080 m3/day to 824,456 m3/day between 2018 and 2019, according to recent data from...
In Cameroon, the Ministry of State’s Property and Land Tenure recently granted an additional 2,000 hectares of land to Société Africaine forestière et...

Mags frontpage

Business in Cameroon n81: November 2019

The growing weight of Moroccan banks in Cameroon

Made in Cameroon products gradually take over supermarkets

Investir au Cameroun n91: Novembre 2019

Le poids croissant des banques marocaines au Cameroun

Le Made in Cameroon progresse dans les supermarchés