Story, Louvier Kindo Tombe
After a successful first edition of the global conference on payment overdue and payment delays that held in Cameroon last year October, the organizing committee of the event is actively mobilizing for the second edition.
Since the first edition raised awareness on the challenges of overdue payments and payment delays, this second edition will delve into actions. The objective is more specific, “transforming payment systems for economic growth”. However, deliberations will focus on “why and how to fight against payment delays”.
It will be an occasion to revisit some of the resolutions of the first edition and iron out where need be.
Specific strategies will be proposed on how to limit overdue payments and delays and reduce its impacts on economies and companies.
Way forward
During the first edition of the global conference on overdue payments and payment delays, it was observed that payment delays cause small and medium sized enterprises a global loss of about 3000 Euros, and is the reason why 25% of enterprises in the world wind up.
In Cameroon, the situation is not different. According to the President of the Organizing Committee of the conference, Pierre Lafont Massodi Ma Kame, in the past three years alone, Cameroon paid over 20 billion FCFA of interests due to overdue payments and payment delays.
Participants at the first conference saw the need to intensify the struggle against this phenomenon and made some proposals.
The employers’ cartel, GECAM, proposed the creation of an observatory on overdue payments as a way forward.
GECAM was one of the numerous stakeholders from 21 countries and institutions that took part in the conference which was presided at by the Minister Delegate at the Presidency of the Republic in Charge of Public Contracts, Ibrahim Talba Malla.
Expectations are high that this second edition will provide concrete avenues for specific actions to be taken in line with reducing the impact of overdue payments and payment delays.
The conference it should be noted is organized thanks to the expertise of the CIDRP Cabinet.
