By Christelle Youbi
A full-scale shrinking of the economy could be underway in Cameroon with continuing political instability, dwindling liquidity in the banks and low purchasing power coupled with cut-throat taxation.
Global contraction with the US leading in recession might not yet have
brought food shortages and mass layoffs in the country, but investment
generally is surely uncertain and in a downward trend.The good news though, is that we have got a new pace setter - Investment and Development in Cameroon, Carbon Group.
The Group held its first General Assembly of shareholders at the conference hall of FAKOSHIP PLAZA , Buea, recently.The Group's Chief Financial Officer, Silas Achu, said the aim of this
innovation is to open the company to various investors in and out of
the country.
He explained that as a private company, there is a limitation on the
number of shareholders, which invariably obstructs their goal of moving
beyond 1000 shareholders. It is, therefore, the company's vision to
raise funds, invest extensively in various sectors of the economy and
set its objectives for 2013.
"We are signalling the entry of a real Cameroonian business into the
global business landscape and eventually on the stock exchange list,"
Achu commented. Five shareholders were elected into the Board of Directors, namely;
Otto Beseka, Silas Achu, Enow Afuembey, Laye Mbunkur and Louisa Asah.
The Board is made up of two executive members and three non-executive
members. These include the positions of a Chairman, Vice Chairman,
Secretary and Legal Council. Beseka, Carbon Group's Chair, explained why they have made open the shares to the public. "It is to raise more capital to invest in real estate division and for
further research into other business ventures across Cameroon," said
Achu.
Mbunkur noted that they will move towards attaining the goal set by the
company through proper management of the shareholders and also
effectively discharging their duties.
Carbon Group Limited has its head office in Molyko, Buea.
When you read such business report, you start wondering the background of the reporter.It sounds too ought to introduce your peice with US and yet you give no reason in the the rest of your article why that is important, yet you go on to report minutes from a board meeting.
Well, if you were trying to market the said company, then you have instead help to paint it too black for potential investors.Please you guys must try to articulate your piece and choose the right caption that reflects.
Just a pointer-
Posted by: Epizi | Sunday, 01 March 2009 at 03:04 PM
The caption reads " Group to Spur Investment ".
What is the capital of this group...??
What investment projects has the group undertaken before going public to sell shares....??
Is there a history or a business profile of it's individual members from which would be investors can reference before putting in money...??
What are the purpose and objectives of the group in brief outline...?
Market studies to justify their ventures....??
Real estate in a crumbling economy...??
Or is it the usual westernized form of advanced 419 with sophisticated run around semantics & polite euphemisms to disguise and befuddle would-be-victims & other easy prey to part with their hard earned monies and savings.
Is this different from the numerous ubiquitous ponzi schemes that have thrown the financial world into chaos and left a whole lot of people in despair and destitution...??
Chairman, Vice Chairman, CFO, CEO, et cetera et cetera, do they know what these titles denote...??
the expectant pay packages that go along with them....??
and on whose cost....???
And this line:
" Mbunkur noted that they will move towards attaining the goal set by the company through proper management of the shareholders and also effectively discharging their duties. "
The groups main focus and dependency is first on the shareholders...??
or in other words shareholders should begin sustaining their positions and salaries for the group to begin functioning....???
What a scheme..!!!
Posted by: CountryFowl | Monday, 02 March 2009 at 03:34 AM