APAnews | Contraband and imitation are a real scourge for the Cameroonian economy with average losses estimated at more than 100 billion CFA francs, the Ministry of Finance (MINFI) said on Friday
Government statistics that corroborate those of investors, especially the Cameroonian Employers’ Group (GICAM), which attributed the bankruptcy of several local companies to these scourges.
Smuggling and forgery affect all sectors of the economy, including consumer goods: beverages, cement, sugar, frozen chicken, cosmetics, cigarettes, fabrics, medicines, non-biodegradable plastic packaging, and so on.
Local entrepreneurs deplore the fact that the local market is flooded with fraudulent products and demand that the State act to protect nationals. Despite frequent “raids” carried out by the authorities to stem these evils, the situation remains worrying.
The Ministry of Trade, through the Fraud Control and Suppression Brigade and its local branches, often seizes various products that are either counterfeit or smuggled, in addition to other administrations, such as the Customs, which has launched the “Stop Illegal Trade” Operation “HALCOMI”.