On 12 February 2021, the Head of State signed a Decree on the transformation of the Livestock Development Corporation (SODEPA) into a public incorporated company. These texts imply de facto changes of several kinds.
Here is what you need to know about the latest news:
- Changes in the Articles of Association: This new Decree abrogates the following texts: Decree n 74/182 of March 8, 1974 on the creation and organisation of the Société de Développement de Exploitation des Productions Animales on the one hand, and Decree n 81/395 of 9 September 1981, which modifies and supplements the latter.
- Increase in the share capital: Chapter 2 of Decree No.2021/091 of 12 February 2021 specifically states in its article 10 « The share capital is fixed at eleven billion nine hundred and sixty-two million two hundred and twenty-one thousand two hundred and sixty-two (11,962,221,262) CFA francs.“ It should be noted that the share capital has thus gone up significantly as compared to the previous amount — eight hundred and thirty-three million one hundred and fifty thousand (833,750,000) CFA francs. This capital now includes, as the General Manager of SODEPA put it so well, « the government’s contribution towards the PLANUT emergency plan. (Interview conducted by Le poste national on Friday 19 February 2021).
- SODEPA’s missions: Several new missions have been entrusted to the Company, especially the development of pastoral areas, the development of livestock, the processing and marketing of livestock products and by-products and finally the execution of all public service mission operations related to the purpose of the company or any other missions entrusted to it by the State.
- The Meat Security Stock: « For the first time in Cameroon, one of the biggest reforms undertaken by the Head of State is the creation of a meat security stock that will go operational in the days ahead » the General Manager of SODEPA, Mr. KOULAGNA KOUTOU Denis, told CRTV journalists (interview of February 19, 2021). The cold stores will serve as a backup to ensure that this security fund remains permanently in operation. Other objectives include the continued modernisation of livestock infrastructure and production tools.