Trade Performance: Hydrocarbons Sector Drives Economic Revival

This sector stands tall among the top nine companies influencing the resurgence of the national economy since the 2008 global economic crisis, according to recent findings.

Some nine Cameroonian companies feature among the top 500 companies on the African continent in a recent classification by renowned pan African magazine, Jeune Afrique; namely, the National Hydrocarbons Corporation (SNH), National Oil Refinery Company (SONARA), Tradex, SA Brasseries du Cameroun, ENEO, MTN Cameroon, Groupe CFAO Cameroun, Congelcam and the Special Council Support Fund for Mutual Assistance (FEICOM).

The turnover of SNH as of 2016 stood at about FCFA 5,760 billion; that of SONARA recorded a little over FCFA 5,455 billion while Tradex registered about FCFA 2,347 billion. The turnover of the top three hydrocarbon companies nationwide stood at a cumulative sum of FCFA 13,562 billion.

The performance of the companies, like others on the list of 500, represent a resumption of growth as economies they all witnessed decline in turnover from 2012 as a result of the global economic shocks.

Going by the Jeune Afrique, the performance also represents indicators of growth in the Gross Domestic Product (GDP) of the country, reflected in that of the entire continent that rose by 2.2 per cent in 2016 accor...

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