The Director General of the Special Equipment and Inter-communal Intervention Fund (FEICOM),
Philippe Camille Akoa has revealed that local governments in Cameroon owe CFA 128 billion to the institution, which funds decentralized projects.
He made this revelation recently in an exclusive interview with Business in Cameroon. Philippe Camille added that the debt includes CFA 36 billion in current, payable debt and CFA 91.8 billion in non-allocated debt.
FIECOM, which acts as the "bank" for local governments by financing their infrastructure and development projects, took steps in September 2024 to ease the burden on struggling municipalities.
“We decided to cancel a debt of CFA 4 billion owed by 62 communes, mainly located in the conflict-affected North West and South West regions” Philippe Camille said.
The board of FIECOM cited the economic slowdown and deteriorating municipal infrastructure in these areas, which have been impacted by conflicts since 2016.
The decision was also supported by the "low impact of this debt on the overall financial balance of the institution." In 2024, Feicom allocated CFA47.7 billion in financial assistance to communes and urban communities.
“The regions received CFA 9 billion, with each region getting CFA1 billion, except for the South region (CFA 494 million) and the North region (CFA 990 million).” Philippe Camille explained.
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Director General of the Special Equipment and Inter-communal Intervention Fund (FEICOM)
Philippe Camille Akoa
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