16, May 2019
Vietnamese and Cameroonian authorities have begun talks to resolve the managerial crisis at Nexttel, the brand name of Viettel Cameroon, ITweb reported. It is a joint venture by Viettel Global Investment Joint Stock Company, a subsidiary of Vietnamese military telecoms company Viettel, and local shareholder Bestcam. The crisis stems from disagreements in the management of the company by the Vietnamese and Cameroonian stakeholders.
Vietnamese shareholders have denied allegations by their Cameroonian counterparts that they had flouted Cameroonian business laws, including the OHADA law. El Hadji Baba Danpullo, chair at Bestcam, has accused the general manager of Viettel Cameroon “of running Nexttel like his private business”. He said the Vietnamese were recruiting their counterparts at the expense of unemployed Cameroonians.
The dispute also concerns issues such as signatures for financial transactions, engagement of foreign partners, purchase of telecoms hardware, and transfers of technology, amongst other things. The Nexttel crisis has resulted in several litigations in local courts between conflicting parties and has pitted Viettel Global against Bestcam. They owned 70 percent and 30 percent stakes respectively at the onset of Viettel Cameroon in 2014.
The Deputy Minister of Foreign Affairs of Vietnam, special envoy of the Prime Minister of Vietnam, Nguyen Quoc Cuong, has held talks with the Prime Minister of Cameroon, Joseph Dion Ngute in Yaounde. The main focus of their audience lasting over 80 minutes was to seek a lasting solution to the Nexttel crisis, involving parties of both countries.