Situation of Companies : Registers Better Performance

The 131st ordinary general assembly of Cameroon Employers Organisation (GICAM) opened in Douala on June 28, 2022 with an assessment of the economic situation in the year 2020 to 2021, especially with the Covid-19 crisis and the ongoing Russian-Ukraine conflict and their effects on local companies. 
At the level of companies, performance was generally better in the year 2021 than that of 2020, but with a continuous erosion throughout the year. According to Celestin Tawamba, President of Cameroon Employers’ Organisation, the international situation, combined with other internal constraints, have greatly affected deployment capacities and short-term prospects. Inflationary crisis, homologated prices, remittances abroad, tax controls, telecommunications, energy and Africa Cup of Nations were areas of great challenges to the country.
To accompany its recovery efforts, Cameroon has concluded a new economic and financial programme with the International Monetary Fund (IMF), which covers the period 2021-2024 for an amount of FCFA 375 billion and whose certain benchmarks concern public-private dialogue, taxation, domestic debt, and public governance.
In their 2021 Activities Report, he advises business people, “Our agility, our reactivity and our proactivity alone will never be enough to successfully accomplish our mission. They only make sense if we conduct an effective dialogue between the State and employers. This dialogue is an essential pillar of our mobilisation to accompany and support Cameroon’s businesses. It is the guarantee that the case of our members and businesses is best defended in a complex and uncertain world. A world in which repeated crises and geographical tensions increasingly interfere with the economy.” 
Executive Director of Cameroon Employers Organisation, A...