CPDM Crime Syndicate: Aluminum Export Revenues Rise 11% in 2023 0

The revenues from Cameroon’s aluminum exports, managed by the Cameroon Aluminum Company (Alucam), reached CFA54.2 billion in 2023, marking an 11% increase from CFA48.9 billion in 2022, according to the National Institute of Statistics (INS).

Despite the revenue increase, the volume of aluminum exports remained nearly stagnant. Cameroon exported 43,916 tons of raw aluminum in 2023, a slight rise of just CFA36.7 tons compared to 43,879 tons in 2022.

This boost in revenue is a positive development for Alucam, which has faced financial difficulties since 2014 after the withdrawal of Canadian firm Rio Tinto, which held a 46.7% stake. Since becoming fully state-owned in 2015, Alucam has struggled with cash flow issues and remains the largest debtor to Cameroon’s electricity provider.

Source: Business in Cameroon