REPUBLIC OF CAMEROON PEACE-WORK-FATHERLAND
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DECREE No. 2024/291 OF 10 JUL 2024 to transform the National Investment Corporation into a public corporation
THE PRESIDENT OF THE REPUBLIC,
Mindful of the Constitution;
Mindful of the revised OHADA Uniform Act relating to Commercial Companies and Economic Interest Groups, adopted on 30 January 2014 in Ouagadougou, Burkina Faso;
Mindful of the revised OHADA Uniform Act on Accounting Law and Financial Reporting, adopted on 26 January 2017 in Brazzaville, Congo;
Mindful of Law No. 63/25 of 19 June 1963 to authorize the public issue of equipment bonds and provide for the establishment of a National Investment Corporation;
Mindful of Law No. 2017/011 of 12 July 2017 to lay down the general rules and regulations governing public corporations;
Mindful of Decree No. 2018/355 of 12 June 2018 to lay down common rules applicable to contracts awarded by public undertakings;
Mindful of Law No. 2018/011 of 11 July 2018 to lay down the Cameroon Code of Transparency and Good Governance in Public Finance Management;
Mindful of Law No. 2018/012 of 11 July 2018 relating to the fiscal regime of the State and other public entities;
Mindful of Decree No. 2011/408 of 9 December 2011 to organize the Government, as amended and supplemented by Decree No. 2018/190 of 2 March 2018;
Mindful of Decree No. 2019/320 of 19 June 2019 to lay down conditions for implementing some provisions of Law No. 2017/010 and Law No. 2017/011 of 12 July 2017 to lay down the general rules and regulations governing public establishments and public corporations;
Mindful of Decree No. 2019/322 of 19 June 2019 to lay down categories of public establishments and the remuneration, allowances and benefits of their managers,
HEREBY DECREES AS FOLLOWS:
ARTICLE 1: (1) The National Investment Corporation, abbreviated as "SNI" and hereinafter referred to as "the SNI", is, with effect from the date of signature of this decree, transformed into a public corporation, with the State as sole shareholder.
(2) The SNI shall have a legal personality and financial autonomy. (3) Its headquarters shall be in Yaounde. (4) Branches, offices or representations may, where necessary, be set up within or outside the national territory, by resolution of the Board of Directors.
ARTICLE 2: To accomplish its corporate purpose, SNI shall be authorized to set up subsidiaries that contribute to achieving its strategic objectives, particularly by carrying out regulated activities. The subsidiaries must comply with specific sector regulations.
ARTICLE 3: (1) The role of the SNI shall be to mobilize and channel financing towards productive investment, particularly in the industrial, agricultural, mining, financial, commercial and service sectors.
(2) As such, it shall be responsible, through its subsidiaries, for: - financing investments; - implementing venture capital and development capital operations; - carrying out stock market intermediation and asset management activities; - conducting studies and providing advisory support; - monitoring public enterprises.