The Cameroon Development Corporation (CDC) exported 10,400 tons of bananas from January to March 2025, marking the company's best quarterly performance in seven years, according to www.assobacam.com. In 2018, the CDC exported 11,631 tons before ceasing operations due to the Anglophone crisis. Armed separatist groups occupied plantations, disrupted infrastructure, and caused fatalities, leading to a complete halt in exports by September 2018.
The CDC resumed operations in June 2020. Initial recovery was slow, with Q1 2021 exports at 5,317 tons, decreasing to 4,541 tons in Q1 2022. The numbers rose to 7,289 tons in 2023 and 7,712 tons in 2024. The 2025 export level reflects progress linked to the reopening of abandoned banana farms in 2021.
Improved security and government support, CDC's sole shareholder, have facilitated this recovery. Since 2021, efforts have focused on stabilizing the company. Finance Minister Louis Paul Motazé announced in Buea, South-West Region, that a debt takeover agreement was reached with Société Générale and AGF Bank (formerly Banque Atlantique Cameroun) to restructure CDC's debts.
"The state, through a debt takeover agreement, transferred CDC's debt of approximately US$98.6 million to the two banks. This included around US$58.4 million in unpaid wages and US$39.8 million in social security contributions. As part of the deal, US$33 million was paid to workers in 2024, with the remaining US$24.8 million to be paid this year. The tax debt of US$52.5 million was converted into CDC equity," the minister said.
Final wage payments are expected in 2025, covering all salary arrears as of June 2023. Minister Delegate Paul Tasong mentioned ongoing talks with international partners to secure further funding for the CDC.
Source: Business in Cameroon