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Cameroon’s Agro Industrial Giant, CDC In Search Of FCFA 25 Billion To Rescue Plantations

Limbe(National Times)-Frankline Kongni Njie, General Manager of the Cameroon Development Cooperation (CDC), the nation’s second largest employer after the Government says, the cooperation needs at least FCFA 25 billion to rescue abandoned plantations owing to security threats.

Njie disclosed the financial need of the corporation to the press recently shortly after an extra ordinary joint industrial Council (JIC) meeting of the cooperation.

Banana

Emerging from the meeting which lasted several hours behind closed doors, the CDC boss gave clarifications to ascertain the urgent financial needs of the entity.

The GM disclosed that some FCFA 10 billion is needed to rehabilitate over 35,000 hectares of abandoned banana plantations. To revamp the palm plantations, an estimate of FCFA 6.5billion is needed while the rehabilitation of the rubber sector will cost some FCFA 7.7 billion.

Njie told reporters that in the agricultural sector like the case of the CDC, any breakdown in the generation of revenue now is also failure to do same for the future. The GM said, if urgent actions are taken within three weeks, they may be able to cut down the abandoned bananas and get viable suckers to nurture again.

He posited that the future can only be guaranteed if the rehabilitation plan goes into effect. He explained to reporters that stakeholders at the JIC conclave agreed on the need for certain security guarantees to enable CDC workers return to their job sites.

“The particular issues which we addressed in the meeting of the CDC were restructuring of the CDC, we looked at CDC in the current context of the prevailing socio-political crisis in the Northwest and Southwest Regions and we also examined the way forward for the CDC,” Njie told reporters.

The boss of the corporation used the opportunity to clear the air on misinformation that, the entity has received some FCFA 86billion grant from the State. The GM said rather the corporation through the Government signed some memoranda with potential foreign partners within the context of the corporation’s envisaged restructuring plan.

On November 9, Agriculture Minister, Henri Eyebe Ayisi, signed such engagements. One of such is with a Canadian company for the anticipated supply of earth moving equipment to the CDC. This will be to the tune of FCFA 40 billion.

Rubber

There is another agreement with another company towards the design, supply and construction of a 25 metric per hour oil mill and a rubber factory. The GM said it is the combination of the agreements that sums up to the FCFA 86billion.

Representatives of Workers Union, the Ministry of Labour and Trade Union leaders were part of the JIC meeting.

At the moment, the documents to this effect are still at the level of the Prime Minister’s Office. After this level, the same file is expected to be sent to the Ministry of the Economy, Planning and Regional Development for further observations.

Palms

The next stage of the file will be the Ministry of Finance. After all these examinations, if approved, the engagements can then be enlisted and budgeted for in the country’s 2020 State budget for action.

 

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