By Eric Tataw – Wednesday March 6, 2019.
Cameroon’s Trade Ministry has suspended the increase in beer prices, a local Journalist who’s in the country’s capital in Yaoundé has told National Telegraph, Wednesday, March 6, 2019.
Francis Ajumane told National Telegraph’s Editor-in-chief the decision to suspend the increment in beer prices came after a just-ended meeting of the Ministry’s officials and brewery stakeholders at the Ministry’s Boardroom at Immeuble Rose, a precinct in Yaoundé, March 6.
Cameroon’s largest Brewery Industry had increased prices of its key products. Les Brasseries du Cameroun released the decision Friday, March 1, 2019, after a long period of speculation on the increase of prices of brewery products in Cameroon. It was soon followed by GUINNESS, another brewery company.
The change follows a draft bill, adopted by the Senate and Parliament within the 2019 Finance Act in Cameroon. The government had introduced an amendment on the management of excise duties, concerning alcoholic beers up to 5,5% and less against 2019.
For the 2018 Finance Act, a 20% discount was introduced on the prices used as a basis for calculating the excise tax on these products. In the 2019 project, the allowance has been reduced to 10%.
After negotiations with brewery industries on December 27, 2018, the government of Cameroon through the Ministry of Trade had announced that prices would remain unchanged till early 2019.
These increases, observers say, might generate the kind of violence of February 2008, which followed an increase in fuel prices. Some Douala city dwellers, Saturday, March 2, 2019, have been spotted by National Telegraph, grumbling over what they call the excessive application of the increments by bar owners. This might be one of the reasons for the Ministry’s decision.