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Cameroon Government Looking Forward To Restart Privitasation Process Of Companies

The government of Cameroon appears to want to restart the privatisation process in the country. Speaking in parliament during the presentation of the economic and social plan for 2016, Prime Minister Philémon Yang informed that among sources of income, FCfa 120 billion were expected from privatisation revenue.

Finance Minister Ousmane Mey already gave the game away in a speech given on 23 January 2012, at the opening of the annual Finance Ministry central services conference. Mentioning the broad lines of his action for that year, he said part of the fifth plan is to restart the privatisation process for public sector companies following the directives of the government, and pending validation by the office of the President of the Republic.

Moreover, a manager of the Douala Stock Exchange met recently by Ecofin Agency indicated that, without giving full details and under  anonymity, a strategy was being set up to revitalise the financial market and that the general public should expect more IPOs (initial public offerings) in 2016.

Many companies are back in the line of sight of these new privatisations such as Camtel, Camair-Co, the banana subsidiary of CDC, the Société Camerounaise des Dépôts Pétroliers (SCDP) or Société de Développement du Coton (SODECOTON).

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Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .

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