Moroccan–based banks invest in CIMENCAM to increase production

BY NDUMBE BELL JOSEPH GASTON IN DOUALA BICEC, Société General Cameroun and Société de Commercialisation de Banque or SCB –Attijarimafa, have jointly raised FCFA 47 billion in a loan agreement signed with cement producer CIMENCAM for the construction of another plant at Figuil, North region, according to some senior officials contacted and also a read-out originating from the producer dated as recently as March 23 this year. The amount will be used to partially finance the project whose overall cost is estimated at FCFA 50 billion. Other financial providers will fill the difference. Bank managers decided to contributeFCFA 47 billion…