(Business in Cameroon) - Cameroon recently made a huge step towards transparency in the extractive industries. Indeed, since its penultimate edition (2016), published in 2019, the EITI (Extractive Industries Transparency Initiative) report now devotes an entire section to the direct interventions that earned the National Hydrocarbons Corporation (SNH) the nickname of Cameroon’s slush fund .
Still called indirect transfers , the said direct interventions are payments directly made by the state-owned oil company (with the revenues from oil sold on behalf of the state) for the expenses of some public institutions and agencies at the request of the Presidency of the Republic.
From the 2016 and 2017 reports, we learn that within two years (2016 and 2017), the SNH disbursed XAF383.4 billion as direct interventions.