Cameroon Development Corporation FCFA : 91.7 Billion To Assuage Accrued Debts

The Cameroon Development Corporation (CDC) Senior Service Club hall was filled to the brim in the early hours of Friday December 20, 2024 as the staff of the corporation anxiously waited for the government emissary to deliver the good news. The CDC workers who have gone for several months without salaries could be seen with broad smiles. The Minister of Agriculture and Rural Development, Gabriel Mbairobe accompanied by local administrative authorities led by the Secretary General at the South West Governor’s Office, in his message to the CDC staff said the government has decided to absorb partial debts of the CDC owing to the strategic importance of the corporation. “The CDC is a very strategic establishment in Cameroon that is why over the years, government has continued to make every necessary effort to keep it in its portfolio of companies,” he said while announcing the FCFA 91.7 billion government bailout package. The member of government detailed that the package will cater for the fiscal debts, accumulated social insurance contributions and the salary arrears of CDC staff from May 2018 and December 2022. 
The Minister of Agriculture and Rural Development further explained that FCFA 35.7 billion from the bailout package has been set aside for salaryarrears payment. FCFA 20 billion, he stressed, is already available for payment before the end of 2024 while FCFA 15.7 billion will be paid in 2025. The announcement was greeted with a thunderous applause from the workers. More than 20,000 families are concerned with the package.
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