Gov’t to transfer CDC head office to Yaounde

The Cameroon Journal has learned that negotiations are being finalised for the transfer of the head office of the Cameroon Development Corporation, CDC from Bota-Limbe to Yaounde.

Though The Journal did not immediately confirm reasons for the imminent move, we however, gathered that the decision is in line with the new status of the corporation.

It should be recalled that presidential decree N° 2016/031 of 19 January, 2016, signed by Cameroon’s strongman, Paul Biya recently transformed the corporation into a multi-engaging public utility corporation with the state as unique owner of all shares.

The decree transforming the CDC which floated in 1947 under the pre-independence British administration into a new statute has largely been criticised by Anglophone groupings who see it as a calculated attempt of destabilize and kill the company as happened to POWERCAM, Cameroon Bank and others. The CDC currently employs some 22,036 employees. It is yet unclear when the move will be implemented.

A source in Limbe however confided in us that the transfer could take place this November after a board meeting of the corporation.

The Secretary General of the South West Elite Association, SWELA, Joseph Moki Etukeni described it as an “unfortunate situation.’’

The SWELA scribe observed, “You can remember that the moment the new status came out, I called a general secretariat meeting in Kumba during which we were very hard on the issue.” Part of the SWELA communiqué issued in January 2016 reads:

“That the nationalization of CDC, just like the National Produce Marketing Board which collapsed and liberalization came and left the farmers with mushroom conservative societies without personnel and follow up. CDC operations like Pamol are based on the Common Law System.

That a decree already signed by the President of the Republic stipulating the implementation of the OHADA Law which indeed is an off-shoot of the Civil Law System and the possible movement of the Headquarters to any part of the country by the general assembly leaves SWELA completely opposed to the move.”

“CDC remains the only legacy to the South Westerners and Anglophones at large, SWELA orders that CDC should be left in her old Status’.’

All attempts to get Franklin Ngoni Ikome Njie, General Manager of CDC react to the widely-spread information were futile. His telephone remained unreachable.

In the meantime, the new statute of the CDC transformed the corporation into a multi-engaging public utility corporation with the state being the unique owner of all shares.

The change of statute, it should be noted, came with such portfolio-objectives as acquisition, creation, administration, exploitation and development of agricultural enterprises through production and transformation of produce.

By the same text, the CDC is expected to assist small holders (individuals or groups) cultivating similar crops as CDC within the perimeters of CDC factories. It will commercialize agricultural produce either raw or transformed (with added value).

As a major outcome of the new statute, the CDC, the text further indicates, exercises other operations directly linked to the afore-mentioned objectives by means of creation of new companies, inputs, fusion, association or participation and other means with regards to the development of the Corporation.

Governed by a 12-member Board of Directors representing government ministries and statutory the two governors of the North West and South West regions, the CDC is headed by a general manager and the current one was installed in January 2013.

The CDC has a new statutory social capital of 35,718,550,806 FCFA. Another super governing structure has been added to the existing two namely; the general assembly whose members include representatives of some five government ministries and whose role may be in an ordinary session to approve the audits, appoint, remunerate and revoke the auditor.

Worth noting is the fact that the CDC has as major produce; banana and semi-finished rubber, palm oil and palm kernel. It operates nine rubber estates, six oil palm estates, five rubber factories and two palm oil mills in Mondoni and Lobe.

Recently, the corporation engaged in a number of extension projects to enhance its productivity. The projects include amongst others, 6,000 Ha of oil palm and 6,000 Ha of rubber plantations. A 15-ton per hour modern oil mill project at Iloani (Bamusso Sub-Division) was completed in 2009 and put into full operation.

The CDC’s social outreach includes amenities to its workers and the public in general such as medical care, housing, road infrastructure and sports.