(Business in Cameroon) - Following a request submitted (on May 17, 2018) to the Commission des marchés financiers (CMF) by EDC Investment Corporation, the advisor of Douala Urban community in the framework of the capitalization of  Société métropolitaine d’investissements de Douala (SMID), CMF extended the deadline for the capitalization to July 5, 2018.  Initially, the operation which started on April 5, 2018, should have been completed on May 22, 2018.

According to credible sources, this is to round the subscription of SMID backers with their general assemblies which should be held in June for most of those companies (either public or private).

Let’s remind that through SMID, Douala Urban community wants to raise CFA1, 400 billion to construct some infrastructures. These infrastructures are namely Bonabéri multi-modal station (CFA1.9 billion), the urban forest in Bessékè valley (CFA2.29 billion) and an exhibition center in Douala (about CFA8.5 billion).  

S.A