Yaoundé - 21 March 2023 -

Camair-Co: Board remains undecided on calling private capital

Camair-Co: Board remains undecided on calling private capital
  • Comments   -   Tuesday, 11 June 2013 19:30

(Business in Cameroon) - Locals newspapers have in the past weeks ran headlines claiming Cameroon’s national carrier, Camair-Co would decide on June 7, 2013 the Board meeting day, to call private capital to fight the tough competition from rival airliners.

Although nothing has come out of the Board meeting held at the Ministry of Finance in Yaoundé and presided by its Minister, Alamine Ousmane Mey, sources that refused to be named said no decision was taken to concretize the call for private capital venture, the state-run daily, Cameroon tribune said last Monday.

He added that in the meantime it is important to take urgent measures that can take the company off the ground, and according to the source, “no investor will put his money in a company that is not doing well”.

In effect, according to the text that created the company in 2008, private investors can grab up to 51 % of its capital. According to the business plan of the former General Manager, Camair-Co is expected to make its first profit by 2014 but the present climate of affairs is a bad indication.

Since the launching in March 28, 2011, the national airliner is fighting to surge through turbulence but has a reputation of cancelled and delayed fights, and even nationals avoid the carrier.

2011 accounts of the company were also validated at Friday’s meeting.

The President of the Central African Republic, Faustin Archange Touadéra, has pledged to respect the rules governing the financial environment of the...
During their latest meeting last March 17 in Yaoundé, the Cemac Heads of State decided on a gradual revision of the monetary cooperation framework with...
The volume of bank credit received by large companies in the Cemac region dropped by 18.2% year-on-year in the third quarter of 2022, official Beac data...
The Cameroonian Hygiene and Health Company (Hysacam) explained, in a statement published this week, the reasons behind the recent disruptions in its waste...

Mags frontpage

Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer

Albert Zeufack: “Today, the most important market is in Asia”

Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir

Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »