Tollcam: CFA3.1 Billion Debt to Fayat Remains After Cameroon PPP Collapse

Tollcam Partenariat, the company created to develop automated toll stations in Cameroon, still had €4.73 million, or about CFA3.10 billion, in net loans and advances from Fayat. On a gross basis, the French group’s exposure stood at €4.93 million, or about CFA3.23 billion, according to its 2024 company accounts, which closed on September 30, 2024. The same schedule of subsidiaries and equity interests shows a €51,000 loss for Tollcam, equivalent to about CFA33.5 million, while no revenue figure is reported. Shareholders’ equity excluding share capital stood at negative €481,000, or about negative CFA315.5 million. Share capital was reported at €8,000. Fayat’s shares in Tollcam were also recorded at a gross value of €8,000 and a net value of zero. The investment was therefore fully impaired in the group’s accounts. No dividend was recorded. Tollcam is owned equally by Fayat and Egis. In January 2021, Fayat acquired the 50 Tollcam shares previously held by Razel-Bec and Razel Cameroon. Under the initial structure, Razel-Bec, Fayat’s construction subsidiary, was responsible for building the infrastructure, ...