CDC posts 24.9 billion CFA turnover in 2025 despite Ambazonia disruptions ⁰

The Cameroon Development Corporation (CDC) posted a turnover of 24.93 billion CFA francs in 2025, maintaining production and commercial activities despite persistent disruptions affecting several estates and industrial units.

Audited financial statements approved by the CDC Board of Directors during its Accounts Session held on May 6, 2026, in Yaoundé showed total assets of 102.81 billion CFA francs and shareholders’ equity of 3.2 billion CFA francs. The accounts, audited by Forvis Mazars Cameroon, were presented by General Manager Franklin Ngoni Njie during a session chaired by Board Chairman Ngoran Genesis Bime. Board members reviewed the corporation’s financial position and operational performance for the year ended December 31, 2025.

According to the statutory auditor’s report, several CDC estates and industrial units remained either fully or partially inactive in 2025 because of the socio-political crisis affecting parts of Cameroon’s South-West and North-West regions.

Assets linked to affected estates and projects had a net book value of 10.48 billion CFA francs at the close of the financial year. The sites identified in the report included the Malende, Mukonje, Mbonge and Meanja rubber estates, as well as the Manyu Project, the Mukonje Industrial Unit and the Iloani Industrial Unit.

The audit report said CDC did not fully meet its agricultural production targets because of reduced field operations and insufficient agricultural inputs. It added that lockdowns linked to the back-to-school period and pre-election tensions resulted in the loss of two months of the rubber peak season. Security incidents in production areas, including attacks targeting field staff in Ekona and Sonne/Likomba, also disrupted operations and affected crop performance during the year.

The financial statements further showed that 51% of mature rubber plantations and 36% of mature palm plantations remained unexploited because of insecurity affecting some estates.

Auditors flag inventory and control weaknesses

Forvis Mazars also identified several operational and financial control weaknesses, particularly in stock management, inventory procedures and accounting systems.

According to the audit report, some industrial units continued recording production data manually on paper without electronic backup systems, exposing the corporation to risks related to data security, completeness and accuracy.

At the Idenau Industrial Unit, auditors observed that dipping operations were conducted without thermometers, with temperatures estimated during production processes. The audit also identified discrepancies between recorded stock levels and physical inventory counts, notably within the Technical Service Department and the Mondoni Industrial Unit.

Some storage facilities were described as poorly organised, while expired agricultural products, including fertilisers, remained recorded and valued as active stock. Auditors further noted that stock movements continued during inventory exercises because no stock-freezing procedures had been implemented during the counting process.

The report added that some estates still relied on manual stock management systems, while others operated software applications such as SYBEL. Auditors noted that CDC had finalized arrangements for the acquisition and installation of an Enterprise Resource Planning (ERP) system aimed at improving stock reporting and operational controls.

Banking and sales monitoring gaps persist

The statutory auditor also highlighted unresolved bank reconciliation items dating back to 2020, including old cheques still held by the corporation despite being recorded as payments to third parties.

A review of palm product sales invoices revealed double-counted invoices, missing receipt numbers and gaps in invoice sequencing. Auditors also pointed to the absence of documented reconciliation controls between harvest volumes recorded at farms and quantities received at factories.

The report further stated that updates on litigation cases were not consistently transmitted from the legal department to finance and accounting teams, potentially affecting the treatment of legal provisions.

The Board of Directors expressed satisfaction with the financial statements presented by management and encouraged efforts aimed at improving performance and achieving budget objectives in 2026, despite the operational difficulties recorded in 2025.

Source: Business in Cameroon