(Business in Cameroon) – Philippe Camille Akoa, the Director-General of the Special Equipment and Intercommunal Intervention Fund (Feicom), has revealed that local governments in Cameroon owe CFA128 billion to the institution, which funds decentralized projects. This debt includes CFA36 billion in current, payable debt and CFA91.8 billion in non-allocated debt, as explained by Akoa in an interview with Business in Cameroon.
Feicom, 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. It decided to cancel a debt of CFA4 billion owed by 62 communes, mainly located in the conflict-affected North-West and South-West regions. The board of Feicom cited the economic slowdown and deteriorating municipal infrastructure in these areas, which have been impacted by separatist conflicts since 2017. 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 CFA9 billion, with each region getting CFA1 billion, except for the South region (CFA494 million) and the North region (CFA990 million).
