FAGACE provides over FCFA 3 bln to two Cameroonian companies

The Board of Directors of the African Guarantee and Economic Cooperation Fund (FAGACE) signed a total of over FCFA 3 billion funds for projects presented by two Cameroonian companies, an official statement from FAGACE disclosed.

The agreement was approved on December 16, 2015, in Lomé, Togo.

The beneficiaries, whose projects have not been detailed, are the AIT office and Sadipin group.

This group controls ten companies active in fields as varied as the cosmetics industry; agribusiness; the manufacture of cleaning products, plastic, and aluminum packaging; import-export and production of bottled water.

Just a few months ago, Cameroonian society clinched Transimex direct funding of one billion FCFA from the FAGACE, to build its headquarters in Douala.

"With these new commitments, the balance sheet of the Fund's guarantee operations in 2015 amounted to 30.724 billion FCFA," said FAGACE in its aforementioned statement.