Cameroon Public Enterprises Classification 2022-2024: New System Introduced
Summary
- The Cameroonian government has introduced a new classification system for its state-owned enterprises.
- 38 companies have been categorized into five groups based on their performance over the period of 2022-2024.
- The new classification aims to align remunerations and governance with the results achieved by these companies.
- Decree No. 2019/321 regulates categories, remuneration, indemnities, and benefits for top executives.
New Classification for Cameroon's State-Owned Enterprises
The new classification system takes into account the companies' performance over the past three years, with the goal of promoting efficiency and accountability.
The Cameroonian government has introduced a new classification system for its state-owned enterprises, effective from January 1, 2026. The system categorizes 38 companies into five groups based on their performance over the period of 2022-2024. This move aims to align remunerations and governance with the results achieved by these companies.
The new classification is in line with Decree No. 2019/321, which regulates categories, remuneration, indemnities, and benefits for top executives.
Classification Criteria and Rationale
The classification system takes into account the companies' performance over the past three years, with the goal of promoting efficiency and accountability. The top 7 companies have been placed in the first category, while SONATREL stands alone in the second category due to its central role in electricity transportation.
Seven companies have been categorized as third-tier performers, followed by three companies in the fourth tier, and 16 in the fifth tier.
Implications for Governance and Remuneration
The new classification system has significant implications for the governance and remuneration of Cameroon's state-owned enterprises. Lawyers and compliance officers should be aware that this change may impact their clients' interests in these companies.
As the classification will be updated every three years, companies must continually demonstrate improvement to maintain or improve their position.
Practical Implications
Lawyers and compliance officers should watch for the implications of this new classification on the governance and remuneration of Cameroon's state-owned enterprises, which may impact their clients' interests in these companies.
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