Cameroon utility company loses 8Billion FCFA to country’s simmering separatist crisis
October 21, 2019
By Amos Fofung
Cameroonian utility company, Eneo has announced a FCFA 8 billion loss on sales due to the simmering separatist crisis that has rocked the English-speaking regions for three years now.
The losses were incurred following the impossibility for the company to effectively do business in the two restive regions. Eneo thus joins the list of companies to be affected by secessionist war of independence in the Northwest and Southwest regions.
The most affected of these companies is Cameroon Development Corporation (CDC), the second-largest employer in the country after the public service. CDC, which disappeared from the country’s banana exporters’ registry since September 2018, officially recorded a XAF32 billion loss on its banana segment in 2018.
In the telecom sector, apart from destroying equipment, for three years now, the pro-independents have been jeopardizing MTN Cameroon’s 60% market share in the Anglophone region. In the cement sector, Dangote Cement Cameroon announced a 7.1% drop in its sales in H1, 2019 because of the troubling situation in the two regions
Nkemnji Global Tech
Pan African Visions | November 22, 2019 4:28 am
Pan African Visions | November 22, 2019 3:30 am
Pan African Visions | November 22, 2019 2:55 am
Pan African Visions | November 22, 2019 2:41 am
November 22, 2019 4:28 am
November 22, 2019 3:30 am
November 22, 2019 2:55 am
November 22, 2019 2:41 am
Sierra Leone : Renaissance Movement raises concern over recent wage bill and other issues affecting the country
November 21, 2019 2:41 am