ARTICLE AD BOX
(Business in Cameroon) - The Cameroon real estate company (Sogimcam), a subsidiary of Cfao, announced its rebranding into PlaYce Cameroon and a capital raise from CFA8.19 billion to CFA15.44 billion, up CFA6.9 billion.
In the related statement, the company also revealed it has cleared its net accounting losses as of December 31, 2021, to partially offset its debts. To do so, Sogimcam cut the share capital motivated by losses up to CFA346.08 million, bringing it to CFA15.09 billion.
Before these changes, Sogimcam was more focused on the real estate sector but now it operates PlaYce shopping centers near Carrefour retail stores, restaurant spaces, and several dozen local and international brands.
As a reminder, following losses, another local subsidiary of Cfao –the food distributor Camda- rebranded into Adialéa. The company is a joint venture born nine years ago from Cfao and the supermarket operator Carrefour.
Cfao has deployed PlaYce shopping centers in several African countries including Cameroon, Senegal, and Côte d'Ivoire.
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