The Cameroon News and Publishing Corporation better known by its French acronym, SOPECAM has reduced its budget by 10.3% due to the Coronavirus pandemic and its economic impacts on the State’s budget.
The decision was made known Tuesday June 30 during the 63rd ordinary session and the 35th extra-ordinary session of the board of the Corporation which held in Yaounde under the chairmanship of Minister Joseph Le, Board Chair of the Corporation.
Speaking during the sessions, Minister Joseph Le said the 10% reduction was necessary so as to conciliate the response to the pandemic and the expectations of the Corporation in terms of output.
The budget has thus been slashed from the initial over FCFA 18 billion to FCFA seventeen billion, thirty-two million, nine hundred and seventy-six thousand, eight hundred and twenty-five (17,O32,976, 825).
The board members equally examined budget execution from January to May 2020 among other preoccupations.
SOPECAM is a State Corporation that publishes a good number of tabloids including, the bilingual daily newspaper Cameroon Tribune, the recently launched English bi-weekly Cameroon Insider, magazines including Nyanga, Week-end Sports and Loisirs and Cameroon Business Today.
SOPECAM is not the only State Corporation to have reduced its budget so as to meet up with the shocks brought about by the COVID-19. The State broadcaster, CRTV announced a similar situation last week.