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Cameroon: Public firms receive CFA120b grant

APA – Douala (Cameroon) Cameroon is expected to grant state-owned enterprises CFA 120 billion for their operation in the current year, according to a distribution grid approved by the Ministry of Finance.

This amount which will be disbursed by the Treasury in the form of grants awarded to public administrative establishments and other entities this year will cover 163 entities.

Other major beneficiaries include the Urban Community of Yaoundé (CUY) and the Urban Community of Douala (CUD) with CFA6.4 billion and CFA6 billion respectively.

Despite these grants, statistics from the Ministry of Finance reveal that at least 40 percent of companies and public entities are in deficit.

APAnews

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