Unmasking Financial Irregularities: Cameroon Grapples with the Aftermath of the Glencore Scandal, Pledging Accountability and Transparency

Initially drawing attention from U.S. courts, this case had not led to charges in Cameroon. In 2022, allegations from the U.S. Bureau of Criminal Affairs suggested that SNH and Sonara agents may have received up to 7 billion XAF to facilitate commercial agreements with Glencore. However, the IMF report reveals an amount four times higher than these initial estimates, thrusting the case into a new dimension.{loadmoduleid 377}

Confronted with these staggering revelations, SNH has launched an inquiry, endorsed by the President of the Republic, Paul Biya, aimed at prosecuting the alleged culprits in this corruption scandal. The General Directorate of Taxes has also taken charge of the case, asserting active handling of the raised concerns.

The Board of the Extractive Industries Transparency Initiative (EITI) has urged the concerned governments to act swiftly. On its part, the civil society, gathered at a session of the national committee of EITI Cameroon, has pressed the government to identify and hold accountable the involved actors, emphasizing the substantial financial losses for the state and the negative impact on the country's image.

Despite these calls for action and ongoing investigations, uncertainty persists regarding an effective resolution of this situation. The paramount challenge now lies in the government's ability to take swift and decisive measures to establish accountability for the involved parties and restore confidence in the transparent management of national resources.{loadmoduleid 378}