Medcem Cameroun increases capital, reshuffles team

The capital of Medcem Cameroun, the cement factory built in the country the Turkish group Eren Holding, has just moved from FCfa 10 million to 400 million through "cash contributions" from the shareholders , we learned in a legal notice published on 18 April 2016. Though the company has kept tight-lipped on the objectives of this recapitalisation, we can presume that it will be used to truly launch the operations of this cement factory in Cameroon.

Indeed, after a brief appearance of the Medcem cement on the Cameroonian market in October 2015, mainly in the Quifeurou chain of hardware stores, the product then disappeared a few weeks later without any real explanation. This short appearance of the bags of Medcem Cameroun cement on the market then suggested that the 4th cement factory (after Cimencam of the Lafarge group, Cimaf and Dangote) of the country was finally in operation, after postponing twice the commissioning of its production plant in Douala in March and June 2015.

In addition to the above-mentioned injection of funds made by the shareholders of Medcem Cameroun, the Turkish cement factory in Douala also made changes to its management team. It is now led by Turkish Taha Abdurrahman Ozbey, who takes over the position of MD from Cameroonian Jacky Bruno Tcheutchoua, downgraded to the position of second Deputy Managing Director. The Board is chaired by Turkish Emre Eren.