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Thursday, August 23, 2018

Here are the first projects of the Metropolitan Investment Company of Douala

The first funds raised by the Metropolitan Investment Company of Douala (Smid), whose constitutive general meeting was held on August 17, 2018 in the presence of the Governor of Littoral, Samuel Dieudonné Ivaha Diboua, businessmen, politicians and underwriters, will be used to carry out many projects.

These include the renovation of the New-Deido market, with the construction of 1,800 stores for the resettlement of traders for a total cost of FCFA 6 billion, the development of recreational areas on the Besseke, lists Cameroon Tribune of Thursday, August 23, 2018.

In view also, the construction of a new market in Bonamoussadi, an R + 11 consisting of offices on the current site of the City Hall, an international conference center integrated, the development of secondary centers from Ndokoti and Yassa, a business center at Joss Plateau and many others.

According to Cameroon Tribune, the first are planned with the beginning of the expansion of the News-Deido market. According to the Government Delegate to the Douala Urban Community, Dr. Fritz Ntonè Ntonè, these investments will enable the city of Douala to develop.

"Many projects are already maturing, just financing is needed. This is the approach we are implementing in the city of Douala. By 2025, it takes 900 billion CFA francs for development desired by all, "he said.

As a reminder, the Urban Community of Douala launched the public call for the contribution to the capital of the Smid on 04 April 2018. The total amount of the issue is fixed at 10 billion F. Cfa. The cost of the action is 10,000 Francs CFA and each subscriber must take at least 15 actions.

According to the shareholding structure, the Urban Community will contribute 23% of the capital. 10% of the capital is open to public companies, 20% to private companies and 47% to natural persons. The annual dividend per share is estimated at 1360 CFA Francs for an internal rate of return of 17.3%. The payback period is 6.6 years.