In 2026, the Industrial Cotton Company of Cameroon (Cicam) once again outsourced the production of the March 8th wrappers, intended for the celebration of International Women's Day, to the Indian group Oceanic [cite: ]. This decision comes as Cicam's industrial facilities remain at a standstill, continuing a practice observed for the past four years to ensure supply during seasonal peaks [cite: ].
Just over 2 million linear meters of fabric were produced and delivered to the Cameroonian market, slightly less than the initial projection of 3 million meters [cite: ]. Oceanic reportedly reduced the quantities due to economic and political uncertainties in Cameroon, according to an authorized source [cite: ]. Production began in November to anticipate transport and customs clearance delays [cite: ]. Cicam's management assures that demand has been met, with stocks sold out in less than two weeks, although no public data independently confirms this level of coverage [cite: ].
This outsourced economic model allows Cicam to retain the design of the patterns, brand ownership, and organization of distribution [cite: ]. Oceanic, on the other hand, finances production, manufactures the fabric, and delivers the wrappers ready for sale [cite: ]. After sales, Cicam reimburses Oceanic and makes a margin, although the financial details of the contract have not been disclosed [cite: ].
For Cicam, the goal is to maintain its presence in the market and ensure a "minimum service," including settling electricity bills and part of the salaries [cite: ]. An internal source revealed that the previous year's sales paid for two months' salary [cite: ]. However, this approach has a macroeconomic cost, involving massive fabric imports and currency outflows, which goes against Cemac's efforts to reduce dependence on purchases outside the zone [cite: ].
Cicam has faced a structural crisis for over a decade, marked by a loss of competitiveness, aging equipment, and cash flow tensions [cite: ]. Its equity was replenished by a revaluation of assets, following a request from the Ministry of Finance, from -19 billion to +24 billion FCFA [cite: ]. However, the company reportedly still carries a debt of over 35 billion FCFA [cite: ].
Revival scenarios are under consideration, with restructuring costs estimated between 30.7 and 48.2 billion FCFA [cite: ]. Yaoundé is reportedly negotiating with Arise Integrated Industrial Platforms (Arise IIP) for a capital injection, potentially targeting 85% of the shares [cite: ]. Simultaneously, a consortium is preparing the creation of Camtext SA, an integrated industrial platform of 180 billion FCFA, to locally process cotton.
This partnership with Oceanic allows Cicam to remain present in the market, but at the cost of outsourced production [cite: ]. If Camtext materializes, it could restructure the local textile industry and occupy the industrial space that Cicam can no longer assume [cite: ]. The national objective is to locally transform 50% of cotton by 2030.
Cicam's current situation raises questions about the coherence of the import substitution strategy and the ability to restore a sustainable industrial base in the cotton-textile sector in Cameroon [cite: ].
