Thursday, February 13, 2014

SOWEDA Hails Government For Extra Money !

By Christopher Ambe
Dr. Eneme Andrew:SOWEDA  GM
The Board of Directors of the Southwest  Development Authority (SOWEDA) and  its  General  Manager,Dr. Eneme Andrew ,have  commended    the  Cameroon Government for  giving  the Authority  more  than the  expected funds  for this year.

The commendation was made after an extra -ordinary board meeting of SOWEDA that held last February 4, at the instititution’s conference hall.

The meeting was presided over by SOWEDA Board chairman, Noah Mbongo  Molongo and it was intended to review the already adopted 2014 budget of the Authority, which stood at 1.6 billion FCFA

“In December we met, examined and adopted the budget of 2014.From the Ministry of Finance, we had expected 400 million FCFA.But, instead of the 400 million FCFA we expected, the Ministry of Finance gave us 700 million FCFA, an increase of 300millionFCFA.That is why we are sitting today at an extra-ordinary board meeting to decide how to use the extra 300 Million Fcfa for the interest of the project”” Dr. Eneme told reporters 

The Board thus decided that the extra money would be used to settle debts SOWEDA owed some civil servants who were on secondement to the Authority to the tune of over 71 million FCFA and   debt owed contractors amounting to over 140 million FCFA.
“The balance of the extra money would be added to the budget lines which were already approved but which were inadequate”, the GM explained.

Opening the Board meeting ,Chairman Molongo expressed happiness that in 2013 government subvention to SOWEDA stood at 250million FCFA,but has moved up to  700million FCFA this year. He particularly thanked the Minister of Finance for the financial resources to enable SOWEDA better achieve its mission of poverty-alleviation in the Southwest Region. 

Mr.Molongo hailed the General manger of SOWEDA for efficiency despite some financial constraints but challenged him to redouble his efforts in that direction.
SOWEDA is Parastatal corporation, created by a Presidential decree in December 1987, “to serve as overseer in identifying and implementing government programmes aimed at improving on the economic and social development of the people of the Southwest [Region]”.

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