(Business in Cameroon) - Fonds spécial d’équipement et d’interventions intercommunales (Feicom), the bank of Cameroon’s municipalities informs that it mobilized CFA150.12 billion in 2017. Compared to the bank’s projection for the period under review, this represents a realization rate of 100.61%.
According to the bank, the value of communal taxes subjected to equalization allocated to the decentralized territorial units was CFA76.02 billion. This is a 4% (CFA2.9 billion) rise compared to the performance a year earlier.
As far as the use of the budget set for communal investments is concerned, it evolved by 23% on a year-on-year basis to stand at CFA13.5 billion. This fund was used for 106 projects in 71 municipalities.
Let’s remind that Feicom’s revenues are mainly provided by the government and are mainly (80%) raised thanks to local taxes (additional municipal taxes, vignette, and other local taxes).