Cameroon’s banana giant PHP’s revenues fall €10 million due to land issues
Cameroon’s leading banana producer Plantations du Haut-Penja (PHP), the Cameroonian subsidiary of Compagnie Fruitière, has reported a turnover for 2017 of €110 million. This represents a fall of €10 million from 2016. PHP explains this fall is a result of land challenges facing the subsidiary which currently operates an area of 3,932 hectares. The company has asked the Finance Minister, Louis Paul Motaze, to intervene with the ministries of Land Affairs and of Territorial Administration. PHP claims that if this challenge is resolved, the company will increase its production by nearly 120 tons per year in the localities of Dihane and Bonguem to reach a production total of 230,000 tons by 2020. It will also create approximately 6,600 new jobs. In 2017, PHP exported 175,272 tons of bananas compared with 172,440 tons in 2016.