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Sonamines : Sets aside 5 billion FCFA for the marketing strategy of Cameroonian gold

Dernière mise à jours il y'a 11 mois

As part of its gold marketing strategy, the National Mining Company (Sonamines) has allocated 5 billion FCFA in its 2025 budget for the pilot phase. This announcement was made by Serge Hervé Boyogueno, General Manager of Sonamines, during a consultation meeting in Yaounde

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 The goal is to structure and secure the gold market in Cameroon. Sonamines' total budget for 2025 is 9,492 billion FCFA, of which 52.64% is dedicated to this strategy. According to Boyogueno, this strategy aims to formalize and structure the gold purchasing and marketing chain to combat illicit trade.The Sonamines marketing strategy is based on three key axes. The first axis of Sonamines' strategy aims to control purchase and supply circuits. This objective is intended to reduce the influence of informal networks and limit price speculation. According to the general manager, this axis will enable Sonamines to guarantee the traceability of gold flows at the national level, thus strengthening state control over the market.The second axis of the strategy focuses on optimizing marketing operations. To achieve this, Sonamines intends to implement a secure digital platform to streamline transactions and a real-time monitoring system to track purchases. The third and final axis is focused on developing a market monitoring policy for global markets.This axis is designed to establish Sonamines as a player in every segment of the global gold market. To achieve this, the company intends to negotiate contracts that will allow it to sell gold at more competitive prices, using a model similar to the "forward sale" or "off-plan sale" concept, which is commonly employed in the real estate industry. Sonamines is convinced that this strategy will contribute to increasing Cameroon's financial resources while constituting strategic gold reserves for the state. This ambition was highlighted by President Paul Biya in his address to the nation on December 31, 2024.The pilot phase of the gold marketing strategy marks a crucial step for Sonamines and Cameroon. If successful, it could not only strengthen public finances but also position Cameroon as a key player in the international gold market, while ensuring more transparent and sustainable management of its mineral resources.Indeed, this strategy aims to formalize and structure the entire gold purchasing and marketing chain in Cameroon, in order to combat illicit trade. Sonamines also aims to build strategic gold reserves for the state, which will strengthen confidence in the national currency and economy.The success of this pilot phase could have positive repercussions on the Cameroonian economy, particularly in terms of strengthening public finances and diversifying markets

 Christelle koambi


christelle
JESSICA CHRISTELLE KOAMBI
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