CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

Towards an alliance between But and Conforama?

This solution is currently under study. Close to cessation of payment, Conforama is still waiting for its state guaranteed loan to be granted.

Towards an alliance between But and Conforama?

Conforama is in great financial difficulty. Several solutions are currently being considered to save the furniture brand, which employs 9,000 workers. According to information from the Parisian, the Interministerial Committee for Industrial Restructuring (CIRI) was actively working on this case in order to successfully preserve employment and the sector. And among the solutions envisaged, a merger between Conforama and But would be under study, as had been the case in 2016 between Fnac and Darty.

The two furniture brands would thus remain autonomous, but would have the same shareholder. Contacted by Le Parisien, the CEO of But, Alexandre Falck neither denied nor confirmed this information. "If we were to study a project, the priority for us would be to preserve employment at Conforama and But, but also with our French suppliers. We are traders, our obsession would be to develop the two brands. We are willing to study all options to protect the furniture industry, "he said.

200 to 300 million euros on the table

Still according to information from the Parisian, the shareholders of But, the Austrian furniture group Lutz and the investment fund CD & R, would be ready to put their hands in their pocket, for 200 to 300 million euros, to ensure Conforama's short term deadlines.

Earlier this week, the company's general manager had sounded the alarm, indicating that there were "only a few weeks of cash left". On Saturday, the unions had put on a layer, denouncing the inertia of the banks faced with the request for a loan guaranteed by the State formulated by Conforama. "Without a guaranteed loan, Conforama risks being delivered to a rapacious buyer who will hasten to slice our business," worried Force Ouvrière.