Together, they accumulate a slate of CFAF 826 billion as of September 30, 2020, while the overall debt of public enterprises stands at CFAF 833 billion.
According to the 9th issue of the “Monthly Conjoncture of Cameroon’s Public Debt” as of September 30, 2020, recently published by the Debt Recovery Fund (CAA) and the Permanent Secretariat of the National Public Debt Committee (CNDP), the Société Nationale de Raffinage (SONARA) and the Cameroon Airlines Corporation (Camair-Co), are the most indebted public companies in Cameroon. Together, they accumulate a slate of CFAF 826 billion, out of the total debt of Cameroonian public enterprises, which amounts to CFAF 833 billion.
In fact, this 21-page document reveals that in the context of taking into account the debt of companies and public institutions in the field of public debt, the Minister of Finance, Louis Paul Motaze, also president of the National Committee for Public Debt, seized the managers of 110 public companies by correspondence on July 21, 2020, in order to collect information on the debt of the structures for which they are responsible.
It emerges that as of October 21, 2020, “twenty-one (21) companies responded and the outstanding debt of companies and public institutions arising therefrom as of September 30, 2020, is estimated at approximately CFAF 833 billion ( 3.8% of GDP), including 51.5% of external debt and 48.5% of internal debt ”, reports this economic note.
However, the domestic debt of public enterprises with the banking system as of August 31, 2020, amounted to CFAF 404.2 billion, including supplier and operating debts of SONARA and CAMAIR-CO. The two companies are also indebted to external creditors. The overall external debt of companies stands at approximately CFAF 428.9 billion.
