(Business in Cameroon) – State-owned rice farming company, Semry, is facing a severe financial crisis that threatens its existence, according to a recent audit report by the Chamber of Accounts of the Supreme Court. The report, which covers the 2018-2021 period, reveals that the Yagoua Rice Farming Expansion and Modernization Company (Semry), a public entity designed for profit, is structurally operating at a deficit, unable to cover the actual costs of its agricultural services.
The audit paints a grim picture of Semry’s management, highlighting its inability to balance expenses and revenues despite consistent state support. “A company that fails to provide its clients with services whose production cost exceeds the selling price…
