The State granted a loan of 1.8 billion to Matgénie to support its recovery plan

The Minister of Public Works, Emmanuel Nganou Djoumessi, technical supervisor of the National Park of Civil Engineering (Matgénie), chaired a meeting on Thursday, September 15 to evaluate the first conclusions of the ad-hoc interministerial committee for the health of human and material. resources of the National Park of Civil Engineering (Matgénie), and the development of a recovery plan for the said company. It shows that the State has made a commitment to grant a loan of 1.8 billion FCFA to Matgénie, to support its recovery plan.

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This is a shareholder loan, since the State owns 100% of the shares of this public company, which is granted at an annual interest rate of 1.5%, and is repayable over a period of 3 years, we learned from the Ministry of Public Works. . This loan comes on top of a previous financial support from the government for a value of 659.7 million FCFA, to facilitate the recovery of the company’s activities. From this exceptional operating subsidy, an envelope of 439.8 million FCFA will be used to finance the activity recovery plan through the execution of civil engineering sites, the rehabilitation of some identified equipment and conventional activities. The disbursements of this first part will be exceeded, that is to say 220 million from next October; 150 million in November; then 89.8 million in December.

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A total debt of 14.2 billion

Matgénie’s financial situation has been very poor for many years. It is in the grip of repeated strikes by its staff, and its insolvency is now an open secret. Last July, the employees already accumulated 15 months of unpaid wages, the equivalent of 2.2 billion FCFA in absolute value. The company’s overall debt is 14.2 billion CFAF, according to recent data provided by the Ministry of Public Works. The debt to the tax administration is 2.4 billion FCFA; the debt owed to suppliers is 3.9 billion; that the cause of the Caisse Nationale de Prévoyance Sociale (CNPS) in respect of arrears of social security contributions is 2.6 billion, with also an unsettled slate to the Ministry of Finance of 3 billion.

Also read: Construction: Matgénie has accumulated debts of more than 10 billion FCFA in 2020

We learned from the evaluation meeting on Thursday, September 15 that a plan for the release of unpaid wages has been adopted and will be done gradually for personnel 109 in good standing, as well as personnel 105 with irregular files at the end . of the human resources consolidation operation. The technical supervision has always deplored the dysfunctions that prevent a better implementation of this state company, in this case “a lack of economic and financial profitability of the Matgénie, marked by the recurrence of negative annual activity reports with the corollary, the accumulation of wages. , social, fiscal, supplier debts, etc., ineffective management of production tools”, complained Emmanuel Ngannou Djoumessi last July.

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