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Yaoundé - 26 September 2021 -
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Swiss perfume company Firmenich commits to sharing profit generated from Cameroonian genetic resources

Swiss perfume company Firmenich commits to sharing profit generated from  Cameroonian genetic resources
  • Comments   -   Friday, 23 July 2021 14:01

(Business in Cameroon) - The Swiss perfume and taste company will soon launch research works for the exploitation and commercialization of two plants located in Pimbo, Sanaga Maritime, Cameroon.

For their future collaboration, on July 21, 2021, in Yaoundé, the company signed, (in the presence of the Cameroonian Minister of Environment) mutual agreements with Pmbo communities to share the profits generated from the sales of the plants with the communities. This profit sharing will take the form of financial and non-financial supports to the population, we learn.  

"The said agreements elaborated after a long negotiation process initiated in February 2021 (…) fall within the framework of the  Nagoya Protocol on Access and Benefit Sharing, signed in 2010 and ratified by Cameroon in November 2016. (…) The agreements are signed just days after the President of the Republic enacted, on July 9, 2021, the law related to that protocol. This law sets conditions under which our rich and formidable genetic resources can be exploited and how the profits generated can be shared. It also details the role of the various actors involved in the process,” the Cameroonian government explains.

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