oct 15, 2018 - Cameroon: How Baba Ahmadou DANPULLO wants to wrest by force the Vietnamese investment

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Without scaremongering, it is essential to emphasize that because of the personality of the victim of the abuses of Mr. DANPULLO, the acts perpetrated by the latter, if there is not the definitive end, will eventually create incidents serious diplomatic with the government of Vietnam at the same time they may irreparably tarnishing the image of Cameroon and stigmatize it as high risk destination for foreign investors, even though the State of Cameroon is working hard to attract investors, particularly Asian.

The recent trip to China of His Excellency the President of the Republic, which ended with an abundant harvest in Chinese investment promises in Cameroon, being the latest example.

These promises may never materialize if Chinese investors wind repeated abuses and the attempted theft suffered by the company Viettel GLOBAL INVESTMENT JSC, sometimes with the support, voluntary or not, public figures unsuspected in a Cameroon that wants the rule of law.

Facts

Coming back to the facts, on 14 February 2012, reached between the company Viettel GLOBAL INVESTMENT JSC and the Company BESTINVER Cameroon, legal vehicle through which is Mr. Baba Ahmadou DANPULLO, a shareholders' agreement that would lead to the creation of CAMEROON SARL company Viettel, originally a limited liability company with capital of FCFA twenty million (20,000,000), April 16, 2012 by deed No. 22175 directory Master Stephen KACK KACK, notary in Yaoundé (Exhibit 3 attached).

In fact, responding to a call for investment of the State of Cameroon, Viettel Global had arrived on the territory to be its Cameroon subsidiary for carrying out the activities in mobile telephony. Then a person who was maybe a reel working on behalf of Mr. DANPULLO, persuaded the envoys that Viettel Global necessarily needed a local partner, and Mr. DANPULLO then presented as man serious and very well connected business, would be the ideal partner for them.

While the company Viettel GLOBAL INVESTMENT JSC subscribed 70% of the shares and thus became the parent company of the new company, Viettel Cameroon SARL, the company acquired in Cameroon BESTINVER 30%.

Following resolution of the extraordinary general meeting of shareholders held on 13 February 2014, the company was transformed into a limited company with Board of Directors maintaining the original amount of the equity and composition of the shareholding.

Both the shareholders' agreement that the above statutes have set the terms of administration and management of the company, which makes Mr. DANPULLO was appointed Chairman of the Board and a representative of the majority shareholder, Mr. NGUYEN DUC QUANG, CEO, for that were appointed to assist the latter, several deputy directors.

The same statutes and shareholder agreements have set clear and without any ambiguity, the prerogatives of each organ of society, in Articles 26, 29, 30 and 32 of the Statute, and Article 14 of the shareholder agreement, as provided by Articles 435 and following of the OHADA Uniform Act concerning commercial companies and economic interest groups, some.

The company Viettel Cameroon thus constituted, provided with its mobile license, began operations under the trade name NEXTTEL , current 2014.

The company Viettel GLOBAL INVESTMENT JSC has conducted investment and most important work, namely the technical installation and implementation of a reliable and expensive telecommunications network throughout the entire territory of Cameroon, under the license obtained.

Thus, as of 31 December 2017, Viettel Global invested in this partnership staggering $ FCFA two hundred and ten billion (210 billion) in the form of capital investment, in addition to various other business and media spending.

Mr. DANPULLO waited all these heavy technical investments were made by the joint shareholder of its legal vehicle has started various maneuvers in the clear goal to eject the Vietnamese State and society to monopolize all investments by force, this with the assistance of certain actors in the justice, police authorities, some authorities in some other Cameroonian authorities, and even a tax office of the place, as we briefly demonstrate in future publications. Stay tuned.

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