(Business in Cameroon) - Cameroon’s National social security fund (Caisse Nationale de Sécurité Sociale-CNPS) announced that during the 2017 fiscal year, it realized a consolidated net profit of CFA54.2 billion.

 “In shorter terms, has CNPS been a financial or commercial institution, it would be said that it has realized a net profit of CFA54.2 billion during 2017 fiscal year”, the fund explains. CNPS also notes that compared to the exceptional result (+43.7 billion) in 2016, the current performance is a net improvement of its performance.  

Such performances are the result of the major reforms the fund initiated in 2015. These measures are notably the increase of the social security rates from 7% to 8.4% and the lift of the pensionable pay ceiling from CFA300,000 to CFA750,000. All these measures helped in fixing the technical and structural imbalance of the Pensions branch and also pay pensions without taking from CNPS’s cash reserves.  

S.A