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Cameroon: Telecom regulator ART recorded about CFAF56 bln of bad debts in 2019

Cameroon: Telecom regulator ART recorded about CFAF56  bln of bad debts in 2019
  • Comments   -   Tuesday, 07 July 2020 15:31

(Business in Cameroon) - The financial statements of Cameroon’s Telecommunications Regulatory Board (ART) reveal a deficit of CFAF 2.2 billion at the end of the financial year ending December 31, 2019, according to an official statement sanctioning the board meeting of this public company, held on June 30, 2020, in Yaoundé.

The reasons for this deficit recorded by the company headed by Philemon Zo'o Zame (photo) despite budget revenues of a little over CFAF 38 billion are "the ongoing review of billings for radio frequencies," and "the existence of difficult-to-recover debts amounting to CFAF 55.9 billion," the Board of Directors informs.

In addition to the above-mentioned reasons, the press release of the ART board meeting explains, there is also the non-payment of penalties imposed by the public regulator on telecom operators for various breaches.

BRM

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