Cameroon: Somdia to exit sugar company SOSUCAM after 2027 season

Somdia, the majority shareholder in Cameroon's sugar company SOSUCAM, intends to sell its shares and cease operations. However, the Cameroonian government has permitted the company to remain involved in the exploitation until the end of the 2026/2027 harvest season.

The decision follows a meeting chaired by Prime Minister Joseph Dion Ngute, involving the ministers of Finance and Commerce. Somdia's Director General, Olivier Parent, stated the company's commitment to maintaining good performance and a positive social climate during this period. This aligns with the government's goal of keeping the sugar company operational to prevent job losses, social unrest, and disruptions to the national sugar supply.

Somdia's planned exit stems from declining performance attributed to reduced productivity. The current measures aim to prepare the company for a new owner who can achieve better results. Details regarding the share sale process and potential buyers remain undisclosed.

To manage this transitional phase, which concludes around May 2027, the Prime Minister has established a strategic committee. This committee will oversee, evaluate, and monitor the share transfer process, reporting its findings within the next six months.

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Somdia wants to ensure good performance, a good social climate for a smooth harvest season.