Medcem Cameroon (Eren Holdings) has increased its capital from XAF400m to XAF17.5bn (US$679,000 to US$29.7m).The increase has created 1.759m new shares with a nominal value of XAF10,000.
The Turkish company is the smallest cement producer in Cameroon with a cement capacity of 0.2Mta. It is competing against CIMAF (0.5Mta), Dangote Cement (1.5Mta) and Cimencam (2Mta).
Based on production capacity projected by operators, Minister of Economy, Louis-Paul Motaze, ranked Dangote Cement as market leader with a 45 per cent share of the market followed by Cimencam at 30 per cent, CIMAF at 22 per cent and Medcem at three per cent.
