By Noela EBOB BISONG
The government of Cameroon has in two separate decrees, authorised the acquisition of bank credits, to finance the supply and installation of processing plants of products produced by the Cameroon Development Corporation, CDC. The two decrees were signed by President Paul Biya, last September 22.
The first decree, numbered 2025/469 of 22 September 2025, authorises the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey, to sign a commercial credit with the Standard Chatered Bank of London to the tune of EUR 7 118 812 74 million (FCFA 4 669 635 048. 49 billion) and in the second decree numbered 2025/470, Minister Alamine Ousmane Mey is authorised to sign with the Standard Chatered Bank of London, an Agreement for a loan as Buyer’s Credit, worth EUR 71 750 044.01 million (FCFA 47 064 943 618 million), guaranteed by BPI France AE). The both are programmed to finance the project to supply and install palm oil, magarine, and rubber processing plants at the CDC.
The action comes barely days after the State is said to have completed the payment of arrears owed workers of the CDC, to the tune of FCFA 35.75 billion.
The ongoing efforts by the government to salvage the Corporation are being saluted by CDC Management. In a motion of support to Biya after the clearing of salary arrears, the Corporation wrote that, “This magnanimous decision of the Head of State bears eloquent testimony to the priority place CDC occupies within the Government portfolio and recognizes its strategic role in the socio-economic landscape of Cameroon.”
Recall the CDC has suffered great losses with regards to the ongoing eight-year armed conflict in the South West and North West regions of Cameroon. Not only has production in some of its estates been crippled, the lives of workers have been lost, including a recent attack in Tiko subdivision, claiming the lives of a senior field worker and a soldier. Some who survived separatist attacks found themselves maimed, causing a huge drop in the Corporation’s work force. With huge hardships faced, CDC management found itself owing expanded levels of debts, which caused several strike actions by workers, until government’s attention was drawn to salvage the situation. Destruction of the Corporation’s machinery had also hindered its production capacity.
The instruction by the Head of State to acquire production plants for the CDC, a major step to boosting the Corporation’s yields, observers say is a welcomed initiative which will see the agro industry jamming back to life in the days ahead, hopefully.