The AfDB and Afreximbank loaned 25 billion FCFA to the Mbanga Plantation Company (SPM) of Cameroon to boost plantain production.
The announcement was made by Louis Paul Motaze, the Cameroonian Minister in charge of the Economy, this Wednesday 24 January in the locality of Mbanga (Coastline) during a visit to bring the support of the government to the revival of the activities of the Mbanga Plantation Company (SPM).
Indeed, indicates the Ministry of Economy, the SPM has just appointed a temporary administrator who will proceed to its relaunch, through the creation of a new company whose name has not yet been unveiled.
This recovery was possible thanks to external financial partners. Because, nearly 25 billion FCFA will be injected by the African Development Bank (ADB) and Afreximbank in particular, thanks to the guarantee of the Cameroonian government.
As a reminder, the SPM is out of business since 2013. Its revival will increase the level of production of plantain whose exports are insured by the PHP (plantations of Haut Penja).
The overall objectives are to increase the production of 120 000 tons, to the 2023 horizon, and the creation of 4 500 direct jobs and 2 000 indirect jobs.
