Following a spate of violence in Cameroon’s Anglophone regions which started since October 2016, the national inter-employers’ group investigated with companies operating in the areas the fall outs of the crisis.
Results published September 13 showed that 86% of companies surveyed witnessed significant (36%) and very serious (50%) impact on business.
The unrest has already cost FCFA 2,153 billion in real property, rolling stock and furniture while the turnover shortage is valued at FCFA 269.056 billion.
“This shortage in business turnover implies an immediate loss of FCFA 5.9 billion in government’s tax revenues, as a deposit of corporate tax [the rate of which is set at 2.2% calculated on turnover]”, Gicam pointed out.
In terms of job losses, agro-industrial companies are atop the list. Overall, nearly 8,000 jobs in the formal sector are threatened in addition to the 6,434 jobs already lost.
The group suggests to stabilize the security environment as to better control the situation and initiate peace restoring process across the country.
“It’s urgent to stop the extension of the unrest to other areas and regions which are already being affected. For instance, the supply of food commodities like banana, vegetables, tubers, spices which were before now produced in large quantities in the conflicts hit North West and South West regions of Cameroon have dropped drastically.
Wholesalers and retailers (buyam-sellams) at the Douala Central, Sandagar, Dakar …markets complain they have lost hundreds of customers as they were obliged to diversify their line of business.
Gicam also concluded that there are cases of company holdups by armed groups are already reported in Bonabéri in Douala, the country’s economic capital.
Let’s note that companies selected under this survey include those operating in agribusiness, local agro-industries, telecommunications, coffee – cocoa sector, agricultural services and distribution.