REPUBLIC OF CAMEROON Paix-Travail-Patrie SERVICES DU PREMIER MINISTRE SECRETARIAT GENERAL
REPUBLIC OF CAMEROON Peace-Work-Fatherland PRIME MINISTER'S OFFICE SECRETARIAT GENERAL
# PRESS RELEASE FOLLOWING CABINET MEETING OF THURSDAY 28 JUNE 2018
Yaounde, 28 June 2018
The Prime Minister, Head of Government, His Excellency Philemon YANG, this Thursday 28 June 2018 chaired this month’s Cabinet Meeting at 9 a.m. at the Prime Minister’s Office.
The meeting was attended by the Vice-Prime Minister, Ministers of State, Ministers, Ministers Delegate and Secretaries of State.
Two items featured on the agenda:
- Statement by the Minister of Finance on innovations brought about by the reform of the status of companies and public establishments;
- Statement by the Minister Delegate at the Presidency in charge of Public Contracts on common rules applicable to contracts awarded to public companies.
Following the introductory statement of the Head of Government, the Minister of Finance stated that the reform of the legal framework governing the portfolio of State-owned establishments and companies has been enshrined in two separate laws. The first is Law No. 2017/010 of 12 July 2017 to lay down the general rules and regulations governing public establishments and, the second is Law No. 2017/011 of 12 July 2017 to lay down general rules and regulations governing public corporations. The objective of this reform is to improve the services offered and the competitiveness of public companies, in line with the development objectives of Cameroon and the shortcomings observed in the application of Law No. 99/016 of 22 December 1999 on the general rules and regulations governing public establishments and public and para-public enterprises. With regard to public establishments, innovations recorded include (i) the diversification of the possible forms these establishments can adopt, with a possible extension to the financial, educational and social sectors; (ii) the definition of control mechanisms conferred on authorities with technical or financial supervisory powers; (iii) the improvement of functional governance, by compelling these establishments to develop budgets that are coherent with the strategic instruments of the State.
Concerning public companies, changes made show that Cameroon complies with international standards, in particular the revised OHADA Uniform Act of 30 January 2014, relating to commercial companies and economic interest groups. Other innovations concern the establishment of internal mechanisms to ensure greater flexibility in the management of public companies and the clarification of the responsibilities of the directors of State-owned companies in the management of public funds. To ensure the implementation of this reform, the Minister of Finance mentioned the definition of rules applicable to contracts awarded to public companies, the ongoing drafting of specific texts establishing various categories of public companies and establishments, as well as the compliance of existing structures with the new regulations.