SAFACAM to triple its capital to FCFA 6 Billion

According to a " notice convening the shareholders ' released by the company, the African Forestry and Agricultural Society of Cameroon (SAFACAM), listed on the Douala Stock Exchange (DSX) is expected to triple its capital after a General Assembly Meeting convened in Douala, the economic capital of Cameroon, 12 June 2014.

At the completion of this transaction that will be done through "incorporation of the full revaluation and a portion of retained earnings”, the capital of the agri-business will increase from FCFA 2,070 billion to FCFA 6.2 billion , an increase of over 300%.

As a reminder, SAFACAM, agro -industrial operating rubber and palm oil in Cameroon Company ended the year 2013 on a sharp drop in performance.

Indeed, as “unaudited " financial statements published by the company , net income accounting end of 2013 plummeted by nearly 40 % to 2.871 billion CFA francs , against 4.363 billion CFA francs the previous year.