Socapalm

Today, nearly 70% of Cameroonian palm oil comes from the plantations of Socapalm (La Société Camerounaise des Palmeraies). The future of this company, which is located in remote rural areas of the country, is closely linked to the sustainable development of the local people and the economy.

In the mid-1960s, the vegetable oil shortage grew more pronounced in Cameroon. To remedy this problem, the government set about creating large agro-industrial complexes. Thus Socapalm was born in 1968.

Between 1968 and 1980, the company planted 18 000 hectares of oil palms. However, as a public sector organisation, Socapalm was not competitive in the local socio-economic context, and a process of privatisation was therefore initiated. Privatisation became effective in June 2000.

Since then, Socapalm has operated an ambitious investment policy. Its investments have increased by no less than 1 000% since 2000! The performance of its production facilities and the state of the infrastructure and community services in and around the plantations have improved dramatically.

Aware that Cameroon currently only produces about 50% of national demand for palm oil, Socapalm has undertaken to rejuvenate its plantations in order to optimise yields and conserve the environment. It has also implemented a policy of diversification of its plantations in favour of rubber cultivation.

Socapalm, which is a linchpin of economic development in the South province, is one of three listed companies on the Douala Stock Exchange.


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