Finance

Chadian companies building FCfa 62 billion dykes in Cameroon

Tuesday, 08 September 2015 09:31

As part of the Floods Fight Emergency Project (Projet d’Urgence de Lutte contre les Inondations – PULCI) in Northern Cameroon, the government recently awarded contracts for the refurbishment of irrigated areas as well as the Maga & Logone and Mayo Vrick dykes to two groups of Chadian companies.

According to the official communiqué published for this purpose, these contracts were won by the Geyser SA-Sotcocog SA and SRGM-ETRA groups, respectively for FCfa 33.3 billion and FCfa 28.8 billion, which corresponds to a total amount of FCfa 62.1 billion. These Chadian companies were chosen over Hytra SA, a Cameroonian company and Russian Zarubezhv Dstroy.

Every year during the rainy season, the villages surrounding the Logone River for many kilometres, in the Extrême-Nord region, are exposed to floods. The floods caused by water overflowing from the riverbed are sometimes responsible for important human and material losses, and usually destroy crops (onion, rice millet), thereby putting populations at risk of famine.

The works undertaken by the aforementioned companies should help protect 10,000 hectares of rice farms from flooding, in which 78,000 farmers work with the support of the Yagoua Rice Farming Expansion and Modernisation Company (Société d’Expansion et de Modernisation de la Riziculture de Yagoua - Semry).

On the same topic
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct deposits, improving efficiency and product...
EU, EBRD launch €26.5 million financing facility in Côte d’Ivoire Program targets SMEs with loans, co-financing and technical support Initiative...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, interoperable real-time payments All financial...
Okoumé Capital licensed as fund manager by regional regulator Approval enables expansion across Central African financial markets Firm aims to boost...
Most Read
01

A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...

Mitsubishi, Toyota Buy Options on Africa's Next Startups
02

ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...

ECOWAS and IMF Set New Framework to Align Policies Across West Africa
03

West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...

BOAD Targets $11.5 Billion Investment in WAEMU by 2030 Under New ‘Djoliba’ Plan
04

Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...

Coca-Cola Plans $1 Billion Investment in South Africa After Nigeria Push
05

West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...

BOAD Commits $131.8 Million to Cotton Sector in Burkina Faso and Mali
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.