Business in Cameroon | On April 5, 2021, President Paul Biya signed a decree announcing the organization of a state funeral for business tycoon Pascal Monkam, who died of illness in Pretoria (South Africa) last February 27.
Through this state funeral, to be held on April 10, 2021, in Bakassa, the whole country is paying tribute to the man who was one of the first economic operators in the country’s history.
Pascal Monkam, who died at 90, left an impressive legacy to the Cameroonian economy in several sectors like the hotel, real estate, and mass distribution.
In a recent tribute to the late businessman, SABC group indicated that he was one of the 52 distributors that entered brewery products distribution when they started operations in 1948. “At the creation of Union camerounaise des brasseries (UCB) in 1969, 51 of the [SABC] distributors became shareholders of UCB. Only Monkam Pascal chose to remain loyal to SABC. With his demise, Castel group has lost one of its loyal partners,” SABC wrote in the tribute to its all-time largest distributor.
Pascal Monkam was one of the largest brewing products’ distributors but he also had luxury hotels in Cameroon and South Africa. In Cameroon, he built the La Falaise hotels in Bonandjo, Akwa, Bonapriso, and Bafang. In South Africa, the Monkam Pascal twin towers, the Pretoria Hotel, the Tamboti Lodge, and the Park Lodge Hotel also belong to him.
With his demise, Cameroon has lost one of its first economic operators like Joseph Kadji Defosso, Samuel Kondo, Jean Samuel Noutchogoing, and Victor Fotso.