In accordance with its principles of good governance and transparency, the Cameroon Real Estate Company (SIC) makes available to the public the summary financial statements for the fiscal year ended December 31, 2024, approved at the General Assembly on August 29, 2025.
These results reflect the sustained efforts of the General Management and teams to permanently reverse the trend and consolidate SIC’s position as a strategic player in housing in Cameroon.
Significantly Improved Financial Indicators
- Equity: FCFA 152,024,915,156
- Total assets: FCFA 172,092,423,391
- Net profit: FCFA 592,733,816
This performance contrasts with fiscal years prior to 2019, which were marked by average losses of FCFA -2.6 billion. Over the recent period (2019–2024), SIC now records a positive average accounting profit of FCFA 343.6 million, representing a profitability index of 0.39%.
👉 In other words, SIC has become a profitable company again, and this even before the massive relaunch of housing production.
A Successful Transformation over 7 Years
Between 2018 and 2024, SIC recorded:
- A 59.76% increase in total assets
- A 79.38% increase in equity
- A 114.63% reduction in accounting losses
- A 1,362.97% increase in net cash
These figures attest to a solid and sustainable recovery, resulting from clear strategic choices and improved management rigor.
Strengthened Governance and Compliance
The Auditor’s report highlights major advances in governance and compliance within SIC between 1974 and 2024, with a 95.46% reduction in reservations and anomalies.
- Reservations issued: from 5 to 0
- Anomalies observed: from 6 to 0
- Recommendations: from 33 to only 2
Furthermore, 85ha have been obtained, 392 are under regularization, and the ERP system has been initiated, contributing to an internal control system that is now mastered. These advances reflect SIC’s efforts to strengthen its internal control and adopt management standards compliant with best practices.
Download Financial Statements
The summary financial statements for the 2024 fiscal year, as well as an extract from the Auditor’s report, are available for download:
- [Balance Sheet as of 2024-12-31]
- [Income Statement as of 2024-12-31]
- [Extract from the Auditor’s Report]
Conclusion
These results demonstrate that SIC has reached an important milestone in its transformation. With sound financial foundations and strengthened governance, the company is now ready to embark on the next phase of its development.
