Cameroon: Safacam publishes higher 2019 results

The Société africaine forestière et agricole du Cameroun (Safacam), the Cameroonian subsidiary of the Société financière des caoutchoucs (Socfin), recorded a net profit of 806.54 million CFA francs (1.23 million euros) in 2019, up 41% on the 2018 financial year, according to figures reported by the local media on 27 April. The company’s management explains this good performance « mainly due to an increase in the yield of our rubber plantations in 2019 as a result of good agricultural practices and an increase in third-party purchases of coagulum. The agroindustrial company, which is listed on the Central African Unified Stock Exchange (Douala), farms 5,400 hectares of oil palm and 4,400 hectares of rubber trees in Cameroon.