Rapport Annuel Sni 2005 Version Anglaise.Qxp
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National Investment Corporation of Cameroon P.O. Box 423 Yaounde Tel: (237) 22 22 44 22 Annual Report 2005 Fax: (237) 22 23 13 32 [email protected] www.sni.cm NNoouuss ccoonnssttrruuiissoonnss ddeemmaaiinn WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c SNI: Key Figures in 2005 Equity Capital 22 billions FCFA About 41.7 millions USD Portfolio 30 enterprises operating normally Primary sector: 5 Secondary sector: 14 Tertiary sector: 11 2005 Budget Income: 17 093 millions Francs CFA (about 34.6 millions dollars) Expenditure: 15 098 million Francs CFA (about 28.6 million dollars) Balance sheet total 34 612 165 830 Francs CFA About 65 740 000 USD Net Profit 823 493 970 FCFA About 1 564 000 USD Turnover 6 251 712 674 FCFA About 11 874 000 USD Accrued Net Investment 366 748 000 000 Francs CFA About 696 577 000 USD Portfolio Yield Gross: 20.09% Net: 43 % DRM, G2 Affiliate Tél: (237) 22 21 25 86 Affiliate DRM, G2 WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c Cameroon / Cameroun Independence / Independance: January 1, 1960 Head of State / Chef de l'Etat : H.E. Paul BIYA Surface / AreaSuperficie: 475 402 m2 Population / Population : 17,100 millions inhabitants (estimation 2005)* Projections 2050 / Projection 2050 : 24.9 millions inhabitants Population growth / Croissance démographique : 2.1 % Population under 15 years / Population de -15 ans : 42.4 % Urban population / Population urbaine : 50.6 % Literacy rate / Alphabétisation : 67 .9 % Enrolment / Scolarisation : 56 % Human Development Index/Indice de développement humain (2004) IDH/HDI : 0.501 Rank / Rang : 141/177 Languages / Langues: French/Français, English/Anglais Currency/Monnaie : FRANC CFA Exchange rate/Parité: 1 € = 655.957 F CFA 1 $ = 526,5 F CFA Source : Per capita income/RNB par habitant : 984 $/hab. INS (National Statistics Institute of Cameroon) Inflation / Inflation : 2% Economic and Financial Report (2007 Finance Law) Gross domestic investment/Investissement intérieur brut: 2005 BEAC situational report 2005 World Bank Report 19.2 % du PIB/GDP : 8 901 000 millions F CFA (about 16 906 millions dollars) Foreign Direct Investment / Investissements directs étrangers / : 215 millions $ Exports / Exportations : 1 509 200 millions F CFA (about 2 866 millions $) Imports / Importations : 1 524 200 millions F CFA (about 2 894 millions $) Main sources of revenue/Principales ressources : oil / Pétrole, timber / bois, cotton / coton, coffee/ café, cocoa / cacao, palm oil / huile de palme, banana / banane, rubber / caoutchouc, etc WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c TABLE OF CONTENTS ORGANISATIONAL STRUCTURE 05 MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS 09 NATIONAL AND INTERNATIONAL ENVIRONMENT 10 National Context International Economic Environment MISSIONS OF THE NATIONAL INVESTMENT CORPORATION (SNI) 15 SNI: Industrial promotion, support and financing SNI: Implementation of Government's industrialisation policy POLICIES AND PROGRAMMES OF SNI'S INTERVENTION 16 Policies Programmes; Resources and tools used in its interventions FINANCIAL STATEMENT 21 Income Statement; Balance sheet PORTFOLIO OF ENTERPRISES 28 WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c 4 MANAGEMENT STRUCTURE Structure Organisationnelle Supervisory Authority / Tutelle Ministry of Industry, Mines and Technological Development Ministère de l'Industrie, des Mines et du Développement Technologique Board of Directors / Conseil d'Administration : Chairman / Président Monsieur ACHIDI ACHU Simon (Ancien Premier Ministre / Former Prime Minister) Board Members / Administrateurs FOUDA Séraphin Magloire Technical Adviser, Presidency of the Republic Conseiller Technique à la Présidence de la République ESSOMBA ABANDA Simon Pierre Secretary General, Ministry of Industry, Mines and Technological Development Secrétaire Général du Ministère de l'Industrie, des Mines et du Développement Technologique NJOMATCHOUA Justin Secretary General, Ministry of Economy and Finance Secrétaire Général du Ministère de l'Economie et des Finances EVOU MEKOU Dieudonné General Manager of National Sinking Fund Directeur Général de la Caisse Autonome d'Amortissement BALEPA Elisabeth Secretary General, Ministry of Agriculture and Rural Development Secrétaire Général du Ministère de l'Agriculture et du Développement Rural MPOUEL BALA Lazare Secretary General, Ministry of Livestock, Fisheries and Animal Husbandry Secrétaire Général du Ministère de l'Elevage, des Pêches et des Industries Animales SADOU HAYATOU Former Prime Minister, National Director of the Bank of Central Africa States Ancien Premier Ministre, Directeur National de la Banque des Etats de l'Afrique Centrale MOUKOKO MBONJO Pierre Minister of Communication Ministre de la Communication TSIMI EVOUNA Gilbert Government Delegate of the Yaoundé Urban Council Délégué du Gouvernement auprès de la Communauté Urbaine de Yaoundé OBEN Peter Ashu Former Governor South-west Province Ancien Gouverneur de la Province du Sud-Ouest HAMOA HAMATOUKOUR Former Member of Parliament Ancien Député Auditors LACHUNOU André HAKAPOKA Narcisse WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c 5 The SNI has focused its activities on high yield productive investment operations in all economic sectors, both national and international... ... to build the future WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c MANAGEMENT General Manager / Directeur Général Deputy General Manager Yaou Aïssatou Directeur Général Adjoint [email protected] ONDOA ONANA Ambroise [email protected] Technical Adviser No.1 Technical Adviser No.2 Conseiller Technique N°1 Conseiller Technique N°2 EFOUA MBOZO'O Anastasie ACHU ACHIRI Nelson [email protected] [email protected] Internal Auditor / Auditeur Interne Director of Investment Director of Portfolio NENGOM Emmanuel Directeur de l'Investissement Directeur du Portefeuille [email protected] OTTO Jeanneau de Debonis FOTSO Séraphin [email protected] [email protected] Director of Studies and Assistance Director of Real Estates Development Director of Legal Affairs Directeur des Etudes et du Conseil Directeur des Opérations Immobilières Directeur des Affaires Juridiques HAND BAHIOL Magloire Claude AOUDOU Oumarou KISSOK à BAKO Joseph [email protected] [email protected] [email protected] Director of Finance and Recovery Director of General Affairs Director of Human Resources Directeur des Finances et du Recouvrement Directeur des Affaires Générales Directeur des Ressources Humaines KALDJOB MABOUT Victor Marie SOLLO ASSOMO MEDJO Léocadie AMBASSA OLINGA François [email protected] [email protected] [email protected] WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c 7 Message from the Board Chairman “the current socio economic situation in Cameroon, characterised by economic liberalisation and State withdrawal from the production sector, as well as changes in the industrial structure, has turned the SNI into a major investment capital and development institution.” WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c 8 MESSAGE FROM THE BOARD CHAIRMAN Mr ACHIDI ACHU Simon (Former Prime Minister) Chairman of the Board of Directors In 2005, the National Investment Corporation of Cameroon (SNI) comple- tely overhauled its organisational structure. Indeed, the current socio economic situation in Cameroon, characterised by economic liberalisation and State withdrawal from the production sector, as well as changes in the industrial structure, has turned the SNI into a major investment capital and development institution. Such far reaching changes required that SNI reorganise its management structure and redefine its missions, strategic objectives and draw up new policies to implement its action plan. This was the reason why in 2004, a new Business Plan was drawn up, which focused on the implementation of an efficient and rigorous management policy aimed at creating value added and promoting efficiency at all levels. In addition, the new organisational chart adopted in July 2005 took into account: - the main mission of the SNI, which is providing investment capital; - related activities of the Corporation such as studies and consultancy services; - portfolio management; - development and management of real estate holdings; - support services necessary for the proper implementation of the programmes of operational units. The implementation of this programme in 2005 was a clear indication of SNI's strong determination to make 2005 a turning point in the efforts to revive its activities and consolidate its investment programmes. WorldReginfo - 77689710-b23d-4d73-bb49-25dd9286e67c 9 NATIONAL AND INTERNATIONAL ENVIRONMENT National Economic Context Economic activity in Cameroon rates of 12% and 2.1% respectively. declined in 2005, recording a growth rate estimated at 2.4%, as against 3.5% The tertiary sector did not perform well in 2004 and 4.2% in 2003. either, even though performance in some areas such as telecommunica- Growth in the primary sector stood at tions, maritime and railway transport 2.7% in 2005 as compared to 4.4% in improved in 2005. Growth in the tertiary 2004. Rubber, palm oil and cocoa pro- sector dropped from 6.6% in 2004 to duction increased during this period, 3% in 2005. but cotton, coffee and banana produc- tion for the export market dropped substantially. Performance in the fishe- Evolution of Inflation ries and livestock sectors also impro- ved, although the increase witnessed After the stability observed in 2004, was not enough to reduce the country's inflation increased along with the rise in dependence on imported products. the general consumer price index, Forestry activities also showed some estimated