The founding shareholders of IBC react

Léopold Ekwa Ngallé, who continues to act as CEO of the Cameroonian company of industrial metals, responds to an article in "Jeune Afrique."

Following our investigation into the war between shareholders at International Business Corporation (IBC), we received from the CEO Léopold Ekwa Ngallé, acting on behalf of the founders, a reaction in which he stressed the responsibility of SNH in the deterioration of the situation of IBC on financial, reputational and commercial plans.

The deficit mentioned in our article cannot be, according to Mr. Ekwa Ngallé, the fact of the founding shareholders who managed the bet, "at the price 14 years of efforts, sacrifices and commitment to quality of service to transform the initial capital of ten million in assets of more than two billion."

Mr. Ekwa Ngalle also believes that he has never been ousted from his position as CEO.

"The agenda of the Board of Directors that I convened and chaired April 28, 2014 and which the attendance sheet is broadcast by SNH, provided no modification of the organizational structure of the company, still less the appointment of new leaders", he explains.

The Cameroonian boss adds that the order of June 5 at the Court of First Instance in Douala Ndokoti cancels the governing body that the SNH claims to have organized this same April 28 in the absence of the founding shareholders, as the appointments that had been made on April 28 and May 28 to bring MM Bikoro, Bayiha and others at the head of the Board of Directors and the financial direction of IBC.

Pending the effects of the inter-ministerial meeting convened at the request of president Biya to shed light on the crisis, the two sides are facing: the founder continues to sign from the offices of the company in Bonaberi documents and other acts involving the company as CEO of IBC while in front, the offices of the plant located at Bassa hosts its "replacements".