Sodetocon to increase fertilizer capital to FCFA 18b in 2015

Sodecoton, the flagship of agroindustry in the northern part of Cameroon, plans to increase the budget allocation for capital fertilizer to 18 billion Cfa francs in 2015, against 10 billion francs Cfa in the past.

This substantial increase in the budget for the purchase of fertilizer to distribute it to more than 250,000 producers mentored by Sodecoton, should contribute to boost access to this essential chemical in the improvement of yields in agriculture in General.

Sodecoton fertilizer Fund which is co-managed by the company and the Confédération nationale des producteurs de cotton, Cameroon (NCPC-C), is co-financed by the Cameroonian State and the International Islamic Trade Finance Corporation (ITFC), subsidiary of the Islamic Development Bank (IDB).

For this purpose, one remembers that in a decree signed on November 4, 2014, the leader of the Cameroonian State, Paul Biya, authorizes the Minister of the economy to sign with the CFTO, a loan agreement of 8.5 billion Cfa francs, for the financing of the 2014-2015 cotton marketing year.