Business in Cameroon Is Com- Choice, Which Is Generally Based on Deserve to Be Presented

BUSINESS IN July - August 2020 / N° 89 90 MAJOR PROJECTSCAMEROON - AGRICULTURE - ENERGY - MINING - INDUSTRY - SERVICES - FINANCE Top 100 economic actors in Cameroon FREE - CANNOT BE SOLD BUSINESSIN CAMEROON .COM Daily business news from Cameroon Compatible with iPads, smartphones or tablets EDITORIAL Yasmine Bahri-Domon, No. 100! In this 100th issue of your favorite Out of the 100 figures presented, only 13 magazine, we made a list featuring 100 are women. Unequal gender distribution outstanding figures from the public reflects women’s low inclusion in the and private sector who significantly country’s economic growth. In parallel, it contribute to Cameroon’s economic also implies a huge potential for sustai- development. nable growth if steps are taken to bridge this gap. It is worth noting that this list is partly subjective and could have included More than 80% of the actors featured on more promising startups. However, our our list of individuals and companies staff deemed it better not to do so. Two building the economy are Cameroonians. reasons motivated such a choice. The A choice that aims not at discoura- first is that we have in the past already ging foreign investors from coming to published a list of the best Cameroonian Cameroon but rather to let them know startups. The second is simply because that they would have to work hand in we thought it would be preferable to pre- hand with our dynamic, and proudly sent personalities who have an influence Cameroonian, entrepreneurs. on the economy at the present moment. Note also that our list is not a ranking, and is thus, purposely, random. N° 89-90 / July-August 2020 3 CONTENTS INTERVIEW LEADER OF THE MONTH 59 • Colonel Roger Kuitche: “Military strategy 66 • Elizabeth Tchoungui becomes Orange is an important tool that will benefit Group’s Executive Director of CSR, Diversity, businesses and public administrations” and Solidarity Publisher Corrections : Souha TOURE Stratline Limited Advertisement Publication Director regiepub@investiraucameroun.com Yasmine BAHRI-DOMON In Cameroon Albert MASSIMB, almassimb@yahoo.fr Contributors Tel : 00 237 694 66 94 59 Brice R. Mbodiam, Sylvain Andzongo, Idriss Linge, Muriel EDJO. Printing Rotimpres, Aiguaviva, Espagne Operator Médiamania Sàrl Office - Distribution Cameroon www.mediamania.pro Albert MASSIMB, almassimb@yahoo.fr Maquette : Jérémie FLAUX, Tel : 00 237 694 66 94 59 Free – cannot be sold www.businessincameroon.com - info@businessincameroon.com 4 N° 89-90 / July-August 2020 FOCUS Top 100 economic actors in Cameroon P 08-58 N° 89-90 / July-August 2020 5 COMPANY OF THE MONTH SEMC dashes shareholders’ expectations with 2019 net profits five times below projections Société des eaux minérales du expectations. Indeed, during a mixed cades, with its famous brand «Source Cameroun (SEMC), a company listed general meeting of this company Tangui», SEMC was supplanted in on the Central African Unified Stock held on May 15, 2019, in Douala, 2016 by “Source du Pays”. The latter, Exchange, closed 2019 with a net shareholders projected a net result which returned on the market after a result a little over CFAF79 million, of about CFAF 410 million for the few years’ pause, closed 2016 with a according to an official document company. market share of around 52%, compa- published by the company. This sub- These projections were based on an red with only 36% for the subsidiary sidiary of brewing group SABC was increase in the sales of the different of SABC. thus profitable after three successive forms of its water brand «Vitale». The Since then, SEMC has been unable years of losses (-316 million FCFA in company was expecting a 21% and to close the gap despite the deploy- 2016, -936 million in 2017 and -799 35% increase in its sales and produc- ment, by SEMC and its parent million in 2018), which led to fears of tion respectively in 2019. However, company, of a plan to win back the an early dissolution of the company, SEMC was unable to achieve all these market. This plan led to the launch, per the Ohada regulation. projected performances. Instead, the in 2017, of the mineral water brand SEMC is thus recovering after sha- very first company listed in Central “Vitale”, whose prices on the market reholders’ decision not to dissolve Africa recorded a net result five times are close to those of “Supermont”, it. However, its performance during lower than projections of the period. Source du Pays’ leading brand.. the financial year ending December The undisputed leader of the mineral Brice R. Mbodiam 31, 2019, does not meet shareholders’ water market in Cameroon for de- 6 N° 89-90 / July-August 2020 MONTHLY STATISTICS 32.6% In its quarterly information note, the Cameroonian electri- city company Eneo announced a 32.6% drop in the produc- CFAF219 billion tion of the thermal power stations installed in the country to supply energy to some of the population. According While it was looking for 25 billion CFAF (Central African to the company, this drop in thermal energy production CFA Francs) through a final issuance of 7-year Treasury during the first quarter (compared with production during Bonds (T-bonds) on the BEAC market on June 17, 2020, the same period in 2019), was due to rationing carried out the Cameroonian Treasury finally settled for CFAF 17.7 bil- «at some power stations because of a fuel shortage caused lion. Subscribers to this operation, which pays 6.5% inte- by enormous cash constraints.» rest, thus enabled Cameroon to bring to a successful close a programme it launched in early April 2020 to mobilize According to Eneo’s data, these rationings were greater at medium and long-term financing on the money market. the Maroua (Far-North) and Bertoua (East) plants, esta- blished by the British company Aggreko. Officially, their At the end of six operations issuing public securities with production capacities decreased by almost 60% during the 2, 3, 5, 7, and 10-year maturity, Cameroon raised a total of period under review. CFAF 219.4 billion out of the CFAF 220 billion sought for the implementation of some infrastructure projects in the country. 687 The Cameroonian government is currently finalizing nego- 1,560 Km tiations with the European Investment Bank (EIB) and the European Union (EU) for the financial closing of the Rural Electrification and Access to Energy in Underserved Areas $385 million (about CFAF 225 billion). That is the amount Project in Cameroon (Perace), according to the Ministry of of the concessional loan that the World Bank approved Water and Energy. From the Far North, North, Adamaoua, on June 16, 2020, to finance the Cameroon-Chad Power North-West, South-West, and East regions, Perace will be Interconnection Project. For this same project, a financing implemented over the 2020-2026 period and provide elec- agreement of CFAF150 billion had already been signed on tricity to 687 localities in the country. April 3, 2020, between the Cameroonian government and the African Development Bank (ADB). The overall cost of this rural electrification project is esti- mated at $223.5 million, or about CFAF131 billion. The cur- The financial support of the Bretton Woods institution rent negotiations with the EIB and the EU cover a total of thus brings the budget made available for this project to $73.5 million (nearly CFAF 43 billion). This sum will com- CFAF 375 billion, therefore, enabling the completion of the plement the $150 million (nearly CFAF 88 billion) already fund seeking stage for this gigantic integrated energy pro- provided by the World Bank. ject. This project consists of the construction of a 1,560 km power transmission line between Cameroon and Chad. N° 89-90 / July-August 2020 7 DOSSIER The architects of Cameroon’s economy Your favorite magazine is celebrating tive selection and is therefore subject Head of the corporate group, even its 100th publication. A milestone to the fallacies inherent in such though many other players may that Business in Cameroon is com- choice, which is generally based on deserve to be presented. memorating with this special issue non-scientific criteria. Also, it pri- We optimistically believe that the list that features 100 personalities who marily targets people whose actions we drew up is fairly representative of are sweating to make Cameroon have had and continue to have a the main actors in the local econo- great. They are economic operators significant impact on the economy, mic landscape. and policymakers who weigh a lot in not the rising stars. In some sectors, Brice R. Mbodiam different sectors of the economy. for example, the spotlight is only The list herein is based on a subjec- on the leader of the company or the 8 N° 89-90 / July-August 2020 FOCUS Paul KAMMOGNE FOKAM A Paul of all trades His latest achievement dates back insurance to capital investment, to October 2019 when he secured cellulose transformation, and real the license for launching Afriland estate, to name a few. First Bank Uganda Limited. This is the 11th subsidiary of the banking Ranked by Forbes as the second group whose Cameroonian branch richest person in the French- reported a total balance sheet of speaking part of sub-Saharan Africa, more than XAF1,159 billion for last Paul Kammogne also founded year. MC2, Cameroon’s second-largest microfinance network, which he Paul Kammogne Fokam has succee- recently stopped managing. He has ded in building a true financial and become in the framework of the industrial empire whose pum- China Africa Development Fund ping heart is Afriland First Bank, (CADFUND) one of the main pro- an institution that rivals foreign moters of Chinese investments in lenders in every market where it is Africa.

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