Economy
Abandon de la Sosucam par Somdia : les vérités cachées au chef de l’État
Despite promises made by Pierre Castel to the President of the Republic, Somdia’s decision to exit Sosucam reveals deeper issues that many are trying to obscure.
« The decision by Somdia to abandon Sosucam, despite Pierre Castel’s commitments to the President of the Republic, masks a troubling reality, » explains Albin Njilo. « Those who secured lucrative import licenses instead of serving the public interest have orchestrated a narrative to mislead the president into believing this exit stems from internal family disputes.
In truth, Somdia has just inked a deal with Côte d’Ivoire to invest 100 billion FCFA in the Ivorian sugar industry. « The real issue is far simpler: the Cameroonian regime’s elite have systematically distributed sugar import licenses to their associates, flooding the local market with cheaper alternatives. This left Sosucam unable to compete, » he adds.
« Despite these challenges, Somdia invested 4.5 billion FCFA last year, hoping the government would reduce import quotas. Nothing changed—125 billion FCFA worth of sugar was imported. Worse still, these importers, allegedly acting as fronts for regime elites, enjoy preferential customs treatment. They import sugar officially for the domestic market but resell it across the subregion. »
« Large quantities are currently stockpiled in Ngaoundéré’s railway terminal, blocked since President Mahamat Idriss Déby reinstated customs barriers on Cameroonian sugar. This sugar is later redirected back into the Cameroonian market, » Njilo continues.
Why Côte d’Ivoire over Cameroon?
« In Côte d’Ivoire, despite local production failing to meet demand, the government doesn’t hand out import licenses to cronies. Instead, it assesses production shortfalls and allocates quotas strictly to producers during shortages, » he concludes.