Dealing with the exponential growth in waste
In Cameroon as in many other Sub-Saharan African countries, massive population growth and urbanisation are driving an exponential increase in the production of household waste. This is now estimated at 5.5 million tonnes a year, or 16,000 tonnes a day.
However, the country has still managed to develop a waste management system that could provide a model for its West and Central African neighbours. “The Cameroon way” is based on strong political will and a concession arrangement with a private local company, HYSACAM.
HYSACAM (a French acronym meaning hygiene and health in Cameroon) was founded in 1969 and is the country’s number one private waste management contractor. It is based in Douala and Yaoundé and handles waste management services in 17 cities throughout the country. It collects over 1.5 million tonnes of waste a year or 4,000 tonnes a day. HYSACAM operates right across the waste management chain - from collection to processing – employs 4,000 people and has a fleet of several hundred trucks. 15 million Cameroonians currently benefit from its services.
Financing truck fleet renewal
To keep pace with Cameroon’s booming cities and improve the effectiveness of its waste collection services, HYASCAM is upgrading part of its fleet – approximately 200 trucks and engines at a cost of around 24.5 billion CFA francs.
A consortium of three local banks, headed up by SOCIETE GENERALE CAMEROUN and ECOBANK has come together to provide the necessary funds and they have just granted HYASCAM a 24.5 billion CFA francs (XAF) loan (approximately €37 million). BICEC is putting up 11.5 billion CFA francs (XAF) (i.e., €17.5 million) while the Joint Lead Arrangers, SOCIETE GENERALE CAMEROUN and ECOBANK, are putting up 7 billion CFA francs and 6 billion CFA francs, respectively (i.e., €10.6 million and €9 million).
PROPARCO is providing a guarantee for 11.025 billion CFA francs (XAF) (€16.81 million), covering 45% of the total borrowings. This makes it easier for the banks to lend to HYASCAM and enables the local banks to extend loan terms to seven years at a competitive rate for the local market.
Not just a loan, a commitment to CSR
PROPARCO is also helping HYSACAM to enhance its corporate social responsibility by funding an audit and helping to oversee an improvement plan.
This project will help to secure 4,000 jobs and create another 500 over the next five years with training programmes for all HYASCAM personnel. Upgrading the fleet of trucks with more recent, higher-performance vehicles will enhance the quality of waste collection, secure the service and help improve the working conditions of HYASCAM’s employees.
1 million additional beneficiaries
An estimated one million additional Cameroonians could benefit from HYASCAM’s services over the next five years. Access to essential waste collection services will make a concrete contribution to improving hygiene, public health and quality of life – one of the UN Sustainable Development Goals (SDG 11).
PROPARCO: Florence Priolet – +33 (0)1 53 44 47 32 – email@example.com
SOCIETE GENERALE CAMEROUN: Sylviane Moudeke - +237 233 50 19 03
ECOBANK CAMEROUN: BEND BATEG Evelyne Brigitte (+ 233 50 07 00) (+233 43 13 63)
BICEC: Corinne MPONDO 6 77 11 64 18 Corinne.MpondoMboka@bicec.com
SOCIETE GENERALE CAMEROUN:
With 631 employees and 32 branches throughout the country, Société Générale Cameroun has made accessibility and close customer relations the key focus of its day-to-day business. Its teams work hand in hand with 196,000 active customers (corporations, SMEs, professional and private customers), providing them with solutions tailored to their needs. Société Générale Cameroun has been doing business in Cameroon since 1963. Its team of advisers are focused on delivering customer satisfaction through a comprehensive and diversified range of products and services, underpinned by an innovative multi-channel strategy (Internet, telephone).
For more information : www.societegenerale.cm
Ecobank’s primary mission is to “build a world-class Pan-African bank and contribute to economic development and financial integration throughout the Continent” and thus to provide its customers with suitably adapted, reliable financial products and services. It now has a footprint in 34 countries and continues its solid development. Since late 2016, Ecobank has sought to boost its profile by focusing on innovation and growth. It uses its relatively simple organisation structure based around three (3) business lines (Commercial Banking, Private Banking and Corporate and Investment Banking), to develop a range of products and services tailored to market needs. E-banking is a major focus and private customers can now conduct their banking transactions online anywhere and anytime. And there are lots more innovations still to come!
ECOBANK, the Pan-African bank
For more information : www.ecobank.com
Banque Internationale du Cameroun pour l’Epargne et le Crédit (BICEC – Cameroon International Savings and Credit Bank) is a subsidiary of BPCE Group (Banques Populaires - Caisses d’Epargne). It is a major player in the Cameroonian banking sector with solid performances across all business lines and a network of 39 branches spread throughout the country. With 315,000 customers and close on 750 employees, BICEC is present across all segments, i.e., retail, professional and corporate banking services.