The Local Materials Promotion Authority known by its French language acronym as MIPROMALO will in the coming year prioritise projects that create employment, authorities have disclosed.
Members of the Board of Directors of the institution examined and validated its performance project for the 2025 financial year during their 52nd session at MIPROMALO headquarters in Yaounde on Monday December 23, 2024.
The chairman of the Board of Directors of MIPROMALO, Dr Maurice Doube said the institution is keen on projects with socio-economic impacts with ambitions to increase the production capacity of the Yaounde units as well as those of decentralised structures.
He said despite a budget that is “more or less stagnant”, MIPROMALO aims to promote the use of local materials with a view to reducing the costs of producing national equipment.
“We have to produce more. When we produce more, cost of products will consequently drop and more people will be encouraged to consume what MIPROMALO produces”, Dr Doube said.
The Chairman of the Board of Directors of MIPROMALO said the institution has been relying heavily on state subventions to carry out its missions but this could be history in the years ahead.
“One day we will able to get rid of subventions…We aim to have production units all over the country”, the chairman of the Board of Directors of MIPROMALO said.
Presenting MIPROMALO’s 2025 financial outlook to members of the Board of Directors, the Director General Dr Likiby Boubakar said among other things that in line with the import-substitution policy, the start of work on the Douala fired brick and tile production unit will be the agency’s top priority. In same vein, he said financing required to set up the Etoa fired brick unit will be obtained from a financial partner that has already been identified.
“Studies into the setting up of the Batao marble processing unit will continue, in conjunction with the Federation of Industries of Rio de Janeiro (FIRJAN), while procedures to secure the Bomkoul, Ebolowa, Etoa, Maroua, Ngaoundere and Garoua sites shall be finanalised,” Dr Boubakar explained.
Board members were also examining MIPROMALO’s proposed 2025 budget of one billion, nine hundred and sixty-four million four hundred and sixty-five thousand five hundred and forty-five (1,964,465,545) CFA francs.
