(Business in Cameroon) - Private operators will hold 67% of the shares in  Société métropolitaine d’investissements de Douala (SMID) and public institutions will control the remaining 33%. This was revealed on June 4, 2018, by Fritz Ntonè Ntonè, Cameroon’s representative at the Douala Urban Community.

He further revealed that out of the 67% to be held by private operators, 47% will be reserved for individuals and 20% to registered companies.  

Let’s remind that the SMID is a private-public company created to develop Douala. In that regard, it wants to raise CFA1,400 billion to build infrastructures such as the Bonabéri multipurpose road, the urban forest, an exhibition center, modern markets and conference halls.

According to Ntonè Ntonè, all these objectives should be met thanks to the contribution of the 3 million citizens in Douala, the credit associations, family, corporate or friend groups in this fundraising operation which will be completed on July 5, 2018.

Brice R. Mbodiam