Business

The turnover of PHP, a Cameroonian subsidiary of Compagnie Fruitière, down 5 billion FCFA in 2017

The Plantations du Haut-Penja company (PHP), Cameroonian subsidiary of the Compagnie fruitière, informs that its turnover for the year 2017 is 70.76 billion FCFA. Compared to the year 2016, when the leader of the banana market in Cameroon reached a turnover of 75.48 billion, we note a decrease of about 5 billion FCFA.

The PHP indicates that this decline can be explained, in particular by land challenges facing the subsidiary which currently operates an area of 3932 ha in the Littoral. To mitigate the problem, the company has asked the Minister in charge of the Economy, Louis Paul Motaze, to intervene with the Ministry of Land Affairs and that of the Territorial Administration.

According to the PHP, if this challenge is resolved, the company will increase its production of nearly 120 tons per year in the localities of Dihane and Bonguem, in the Sanaga Maritime division. In addition, the subsidiary will create approximately 6600 jobs. This will enable it to reach a production of 230,000 tons, by 2020.

PHP exported 175,272 tonnes of bananas in 2017 compared with 172,440 tonnes the previous year. The provisional amount of taxes paid to the Cameroonian Treasury is 6.18 billion in 2017 against 7.05 billion FCFA in the previous financial year.

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