The GM gave the balance sheet and future plans during a news conference on Thursday April 26.

The General Manager of the country’s Cotton Development Corporation, Sodecoton, Iya Mohammed, has disclosed that FCFA 15 billion will be invested, as from this 2012, on the company’s oil mills to boost the processing of the product before export. He made the commitment yesterday April 26 during a news conference at the Yaounde Hilton Hotel to debrief national and international press on how the corporation has faired thus far as well as on what management plans for the future.

“From now on to 2015, we are going to invest FCFA 15 billion essentially on oil mills because our capacity is virtually full. We are getting finances from Arab donor countries. At the meantime, we will have more employment and this is just what is expected from us,” he said. Mr Iya added that it is Sodecoton’s desire for CICAM to consume more of its products. “As at now, they consume only 3,000 tonnes. Eight years ago, they were consuming 8,500 tonnes. We are happy that they are investing and very soon, they will increase their consumption,” the GM noted.

Looking back at how the corporation has faired, Mr Iya Mohammed said unequivocally that Sodecoton, a flagship of Cameroon’s agro-industry and the economic hub of the northern part of the country, recruits 1,800 permanent and 1,500 seasonal workers and has a close partnership with over 250,000 producers grouped into over 2,000 common initiative groups. The production of cotton grain, he added, moved from 111,000 tonnes in the 2007/2008 season to 162,000 tonnes in the 2010/2011 season. It is projected to hit 180,000 tonnes this year and 230,000 tonnes during the 2012/2013 season.

From the statistics given, Sodecoton’s records for the past 20 years have been quite positive. “Our net benefit for the past 20 years is FCFA 30 billion. We have paid our shareholders’ dividends. Next year we hope to make profits of about FCFA five or six billion,” he added.

Among the burning questions from the press was one on the alleged confiscation of Mr Iya’s passport with regards to the ongoing clampdown on corrupt officials in the country. Without mincing words, Iya Mohammed said his passport has never been seized by whoever for whatever reason and that he is free to go anywhere at anytime.