Business

Cameroon – Agri-Business: FCfa 900 million contract to be won at Sodecoton, to supply cotton packaging

Cotton
Written by Deckson N.

The Cameroonian government has launched a bid solicitation to recruit providers able to deliver in two batches, a cargo of 500,000 stockings to package cotton. The contract is worth FCfa 900 million, we learn.

According to the communique of the Minister of Public Procurement regarding this bid, the services must be carried out within 90 days after notification of the market. Bidders have up to 1st August 2016 to submit their offers, with a deposit of FCfa 9 million.

Parastatal company that is considered the flagship of agro-industry in the northern part of Cameroon, Sodecoton is currently facing financial difficulties marked by cumulative losses of more than FCfa 20 billion over the last two campaigns.

But, in February 2016, in order to finance the 2016 cotton season during which it expects an estimated production of 267,000 tons, Sodecoton, that now has a new managing director; has succeeded in raising FCfa 35 billion on the local banking market, in order to finance the current campaign.

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Deckson N.