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Cameroon – Agribusiness: Sodecoton needs investment estimated at 40 billion FCFA to run at full speed

Sodecoton needs investment estimated at 40 billion FCFA to run at full speed
Written by Deckson N.

Due to the dilapidated nature of its equipment, the Cotton Development Corporation (Sodecoton), the agro-industry giant in the northern part of Cameroon, reduced the production capacity of its nine ginning units to 200,000 tons, compared to an installed capacity of 350,000 tons, revealed Mohamadou Bayero, CEO of Sodecoton. It was during a forum on the cotton sector, organized on 10 May 2017 in Yaoundé, on the occasion of activities marking the celebration of the 60 years of the European Union in Cameroon.

To reverse this trend of slowing its activities, Mohamadou Bayero revealed, Sodecoton needs an investment volume estimated at 40 billion CFA francs, including 11 billion CFA francs to be unblocked urgently by the shareholders of this company, the most important of which is the Cameroonian State. This funding, we learn, will mainly help to upgrade not only Sodecoton’s industrial equipment, but also the rolling stock of the company which has become both obsolete and insufficient.

In spite of these difficulties, the giant of agro-industry in the northern part of Cameroon expects a cotton production of 248,150 tons of cotton seed during the 2016-2017 season, as against 258,000 tons produced during the former season.

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Deckson N.

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