This was enabled by the signing of two major presidential decrees on 10 July 2024. One transforms the institution into a public limited company, and the other approves its new statutes, in line with its new configuration.
The two decrees signed by the President of the Republic, H.E. Paul Biya, represent a major step forward in the national economic ecosystem. They bring systemic changes to the National Investment Corporation (SNI), to give greater impetus and impact to the structural transformation of the economy of Cameroon, as advocated by the 2020-2030 National Development Strategy.
The first change concerns the legal form of the company. It has been transformed from a public industrial and commercial establishment into a public limited company. This change is intended to bring the company into compliance with the provisions not only of the law of 12 July 2017 to lay down the general rules and regulations governing public establishments in Cameroon but also of the OHADA Uniform Act, of which Cameroon is a member.
The second change relates to the broadening of the company’s range of competencies. This reform turns SNI into the State’s institutional investor and consultancy firm. As a result, SNI, with the State as its sole shareholder, is responsible for mobilising and channelling funding, intending to promote productive investment in the industrial, agricultural, mining, financial, commercial, and service sectors. As such, the institution is now in charge of issuing prior approvals of economic and financial viability for all state intervention in industrial projects carried out by the private sector. Furthermore, its missions have been broadened to public companies, for which it now carries out accounting and financial analyses of their performance; conducts diagnostic and assessment studies of these companies; and monitors the preparation and execution of performance contracts between the State and public companies. It is also charged with venture capital and development capital operations, as well as stock market intermediation and asset management activities.
