Yaoundé, 15th February 2022: Camvert SA. is benefiting from tax exemptions in the implementation of its 60,000 hectare palm plantation project in Campo and Niete, a decision which shows how empty and unfounded Al Fatih’s promises to destroy the forest to support the economy are.
Camvert has just obtained tax exemptions from the Cameroonian government for its oil palm plantation project in the south region of Cameroon. So to operate, the company will not need to pay certain taxes. The company, owned by Cameroonian billionaire Aboubakar Al Fatih has indeed “signed an agreement with the Investment Promotion Agency (API) allowing it to benefit from the provisions of the 2013 law on incentives for private investment in Cameroon. This regulatory text grants project holders tax and customs exemptions ranging from 5 to 10 years, both during the construction and production phases,” reports Investir au Cameroun in an article published on 8th February 2022.
For the Cameroonian NGO Green Development Advocate, this decision is a big scam against Cameroonians. As stated by its Coordinator Aristide Chacgom, “The law on investment incentives cannot be applied to Camvert whose operations do not comply with the legal framework in force. This approach adopted once again by the agro-industry highlights the ever-twisting wheels it has chosen to follow since the beginning of its project. Indeed, this text clearly stipulates in its second article that “the investor who requests the granting of the advantages provided for by the present law is obliged to conform to all the legislative and regulatory provisions applicable to him. Up to now, Camvert has consistently violated the Cameroonian legislation in the implementation of its palm project.
The tax exemption by Camvert is a contradiction of the current context in Cameroon especially for a company which has so far presented itself as one of the doors of salvation for the Cameroonian economy. “It is simply paradoxical to increase taxes in other sectors, including money transfers via mobile phones, and to give the privilege to a few billionaires not to discharge this duty,” exclaimed Ranece Jovial Ndjeudja, forest campaign Manager at Greenpeace Africa.
Furthermore, “How is it that a company that wants to cut down 60,000 hectares of forest and destroy the livelihoods of local communities can benefit from tax exemptions? This decision appears to be a bonus granted to the company to continue violating the law and undermining Cameroon’s global commitments to the protection of the environment,” continued Ranece Jovial Ndjeudja.
In December 2021, Greenpeace Africa and its partner GDA published a report that exposed the disastrous effects of Camvert’s operations on the lives of the local population, on the forests and on biodiversity: a real nightmare for the people.
Greenpeace Africa Newsdesk: [email protected]
Communication Officer, Greenpeace Africa
Email : [email protected]
Téléphone: : +237 656 46 35 45 (WhatsApp)
Ranece Jovial Ndjeudja
Forest Campaign Manager Congo Basin, Greenpeace Africa,
Email: [email protected]
Coordinator Green Development Advocates
Email: [email protected]