The Minister of Commerce, Luc Magloire Mbarga Atangana, on 22 September 2021 in Yaounde, invited business persons, managers of shipping companies operating in Cameroon and public administrations involved in the chain of foreign trade operations to discuss on the rising prices of consumer goods on the market and to identify reasons for these price hikes.

At the height of the Covid-19 pandemic which has gravely impacted global trade, the government of Cameroon launched a clarion call seeking for specific solutions and measures to improve the country’s business climate while maintaining a serene social environment.

During the meeting, business persons and professional organisations advanced a number of reasons for such price hikes namely increase in maritime freight prices which have now quadrupled, the drastic drop in maritime traffic due to the suspension of activities in some ports, the drop in production due to the lack of manpower subjected to confinement, and the introduction of new taxes by the Port Authority of Douala.

According to Mrs Gilbertine Wafeu, President of the Cameroon Union of Shipping Agents and Shipowners (UCAM), and seconded by Mr Alfred Momo representing Groupement des meuniers du Cameroun, the soaring of maritime freight prices is due to the suspension of activities at various ports and the unavailability of maritime traffic crippled by the Covid-19 pandemic, the hold up of containers at ports which, prior to the pandemic, allowed for the free circulation of goods across continents.

These managers expect the government to institute tax relief solutions which would have an impact on applicable tax rates.

(Source: Excerpt from Cameroon Tribune No.12436/8635 of 23 September 2021)