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Cameroon: Public company Maetur posts CFAF202 mln of net income for FY2019 (+59,8%)

Cameroon: Public company Maetur posts CFAF202 mln of net income for FY2019 (+59,8%)
  • Comments   -   Thursday, 09 July 2020 12:31

(Business in Cameroon) - At the end of the 2019 financial year, the Urban and Rural Land Development and Equipment Mission (Maetur) posted a net income of CFAF 202 million, compared to CFAF 126.36 million in 2018. This represents an increase of 59.8%.

According to the public company, this upward performance is due to the acquisition of more than 50,000 plots of land created in the cities of Yaounde, Soa, Douala, Ebolowa, Bafoussam, Buea, Limbe, Kribi, etc… Thanks to these acquisitions, over one million Cameroonians now live in the zones developed by Maetur.

Moreover, since 2013, the company signed a CFAF 21.73 billion contract plan which partially enabled it to acquire at least 209 ha of land and develop more than 80 ha. The related sales have improved Maetur's financial situation.

Indeed, the company posted a turnover of CFAF 5.25 billion in 2019 against CFAF 3.25 billion in 2018  (an increase of CFAF 2 billion) and its total balance sheet is CFAF18.35 billion.

S.A.

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