This is revealed by an audit by the Technical Commission for the Rehabilitation of Public and Parapublic Sector Enterprises (CTR).
The Industrial Cotton Of Cameroon (Cicam) is doing badly. According to the RTC, the company has again reached the critical threshold for continued operations due to the accumulation of deficits each year.
To remedy this, it takes 48 billion FCFA to get Cicam out of bankruptcy. This is contained in a 2020 report published by the Technical Commission for the Rehabilitation of Public and Parapublic Sector Enterprises.
Thus, it will be a question of "the cancellation of the public debt including tax, social and shareholder debts valued at 9.6 billion; the settlement of Cicam's bank and commercial debts valued at 12.6 billion", we learn from Invest in Cameroon.
In addition, the financing needs of the company are estimated at 26 billion FCFA until 2025. In detail, 19 billion are needed for the investment and maintenance of equipment. And 7 billion for the operating cycle.