Cimaf ups its capital to 5 billion

The cement company of Africa (Cimaf), a subsidiary of the Moroccan group Addoha, which launched a cement company in the economic capital of Cameroon at the beginning of the year 2014, proceeded to an increase in its capital of 2 billion Cfa francs. Thus, the said capital was increased from 3 to 5 billion Cfa francs, according to a legal announcement made public on 15th January 2015.

According to the same source, this increase in the capital of Cimaf Cameroon SA is made "by means of compensation for claims associated with the current accounts". The new shareholders, whose arrival induced a change in the statutes of the company, according to our sources, acquired 666.67 new actions created for the needs of this capital increase.

According to the analysis, this opening and the capital increase of Cimaf, could lead to the extension of its plant in the industrial zone of Bonaberi in Douala, in a context marked by the arrival on the Cameroonian market in coming days, the first bags of cement from Dangote Cement Cameroon SA.

Indeed, Cimaf has currently produced 500,000 tonnes, but argued that this capacity can be doubled in case of extension of the production plant.

With its current production level, Cimaf, which put an end to 48 years of monopoly of the Lafarge (with Cimencam) Group on the market of cement in Cameroon, will be the smallest cement company in the country, next to Dangote, who will launch his unit of production with 1.5 million tonnes. The cement plants in Cameroon, controlled by the Lafarge Group, currently peak at 1.6 million tonnes.