The funds raised from partners, companies and patrons do not include the sums expected from international financial institutions.
Mobilization to combat the coronavirus pandemic is continuous in Cameroon, through the participation of multiple actors and a flow of support, both financial and material. The figures from the administrative authorities responsible for managing the crisis are not made public at the moment. However, CEMAC ECO FINANCE learnt at least 4 billion FCFA has already been mobilized in the fight against Covid-19.
Support and donations are supervised by the Special National Solidarity Fund for the fight against Covid-19, announced by Prime Minister Joseph Dion Ngute on March 31. This fund had been endowed with an initial amount of 1 billion FCFA to support the operations of the response plan against the spread of the coronavirus in Cameroon. And as Finance Minister Louis Paul Motaze said, an account has been opened within BGFIBank to collect financial contributions, which can also be made in accounting posts in regions and diplomatic representations.
With regard to cash contributions, several entities had already started to give checks to the Ministry of Public Health. We remember that SCR Maya had given Minister Dr Manaouda Malachie an amount of 150 million FCFA, followed by PROMETAL who had granted support of 100 million FCFA. Support accounted for as part of the Solidarity Fund established by the President of the Republic, Paul Biya. Many private sector players are mobilizing more and more. The company CONGELCAM, the main importer of frozen fish, granted CFAF 250 million as a contribution, while the eponymous group of billionaire Danpullo (tobacco magnate) contributed CFAF 100 million. Other companies have released their checkbooks, namely Alliances Construction Cameroon (150 million FCFA) or the SOCFIN group (Socapalm, Safacam, SPF) which donated an envelope of 50 million FCFA.
The Covid 19 response in the country also had a personal boost from President Paul Biya with an estimated at 2 billion FCFA; which will support the 360 councils of the country by purchasing 50,000 cartons of soap, 1.5 million protective masks for populations, 50,000 surgical masks for health workers, 75,000 household buckets, 40,000 washing-up cans -hands, Covid-19 screening test kits, as well as respiratory assistance devices.
In this fight against Covid-19, the State of Cameroon is also receiving support from its partners. One of the most important was the 7 billion FCFA of France. The envelope will be used overall to purchase drugs, reagents and support researchers in countries of sub-Saharan Africa, including therefore Cameroon. With specific regard to scientific research, 700 million FCFA are allocated to research institutions such as the IRD, CIRAD and the Center Pasteur. Internationally, expectations also exist.
The government has just introduced a letter of intent to the International Monetary Fund (IMF) to solicit between 110 and 120 billion FCFA to fight the Covid-19 and its consequences on the economy of the country. It is also awaiting a reduction in its external debt, which consists of the suspension of external debt service. For this year, this service was expected to amount to about 230 billion FCFA (including 60 billion from France). This is not a debt cancellation, it will simply be repaid in 2021. But, Cameroon could already use these funds for its strategy to fight Covid-19
