2019 SW Treasury Revenue Drops By 28.6 %

(Buea-Cameroon) The 2019 financial year has been a turbulent one for the Southwest Region.

The Region, plagued by armed conflict, has witnessed a 28.6 percent drop in its revenue compared to the 2018 financial year, which also witnessed a slump.

Statistics about the revenue drop were revealed, November 28, during the first coordination meeting of Public Accountants of the Southwest.  During the meeting, it was revealed that though the revenue has witnessed a drop, total expenditure increased by 5.2 percent compared to 2018.

Speaking to the press, Southwest Treasurer-Paymaster General, Angoula Mbassi, said the financial records in the Region are good, despite the security challenges.

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He said revenue of about FCFA 20 billion was collected, even though he admitted that there is a decrease compared to 2018.  “It is encouraging because of the challenges we are facing”.

On expenditure, he said “the level of expenditure has increased from FCFA eight billion in 2018, to FCFA 9 billion this year”.

Angoula Mbassi told the Accountants that the challenges are many, “and we must be able to confront them head-on with moral rectitude and diligence.”

To be able to meet up with expected results, he prescribed hard work, assiduity, punctuality, and adaptability to his collaborators. “I entreat you all to desist from unprofessional practices,” he said.

Speaking at the event, Eric Eyong Eyong, representative of the Director-General of Treasury, Financial and Monetary Cooperation said: “The Southwest Region is witnessing a security situation. For the treasury, there is the problem of mobility and a problem of resources”.

He said his hierarchy has given prescriptions for certain measures to be put in place, in order to overcome security challenges.

Meanwhile, the Secretary-General at the Southwest Governor’s Office, Dr. Mouhamadou appreciated the Treasurer-Paymaster General for organising the coordination meeting.

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 He said the meeting came “at a time when the Region is facing financial and economic challenges with falling revenue. But despite these difficulties, the various Public Accountants have done their best for the 2019 financial year”.

Other highpoints of the coordination meeting included presentation on end of year operations, the building of management accounts, abnormalities brought by the Audit Bench of the Supreme Court and procedure for public contracts award according to the new Public Contracts Code.

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