To revive the construction of 10,000 social housing units in Ekoko II and the Nkolmeyos industrial base, the Cameroon Housing Corporation and the Italian constructor have resolved to set aside the conflicting issues of their partnership, by agreeing on arrangements that benefit both parties.
On April 10, 2025, at the SIC General Directorate, the host, Dr. Ahmadou Sardaouna, received in audience H.E. Filippo Scammacca Del Murgo, the Ambassador of the Republic of Italy to Cameroon. At the heart of the one-on-one meeting between the SIC General Manager and his guest, two modules were discussed: the progress report of the work carried out on the Pizzarotti-Ekoko 2 social housing construction project site and the Nkolmeyos industrial base by Mfou; and the measures taken to accelerate the construction and rapid delivery of the housing units.
The General Manager recalled the challenges encountered, notably an overall work progress rate of 40.79% (with 60.57% of the timeline consumed and 52.03% of the credit consumed) and a ten-month work stoppage, without prior agreement. These concerns stem from Pizzarotti’s shortcomings in managing this project regarding the commitments made during the restructuring of the loan agreement, namely the imperative need to complete disbursements by October 31, 2026, at the latest.
During the exchange with H.E. Filippo Scammacca Del Murgo, the SIC General Manager commended the willingness of the Italian government and Pizzarotti to successfully complete this project, while also emphasizing the need for enhanced synergy among all involved stakeholders.
For his part, the Italian diplomat, after identifying points of agreement and disagreement, requested a twenty-four (24) month extension of the contractual deadline to ensure optimal completion of the works. He then stated that the observed delays are due to an unforeseen situation that significantly impacted the company’s cash flow, which situation will be resolved in the coming months.
In a constructive spirit, the two personalities agreed to accelerate the work on the Ekoko 2 site and to initiate negotiations with financial partners to sign an addendum to the financing agreement.
More specifically, the parties agreed to the following:
- Pizzarotti, in consultation with the Project Owner, will initiate all negotiations with the Project’s financial partners with a view to signing an Addendum to the Financing Agreement, following the extension of the contractual deadline, so that this is not charged to the Project Owner;
- Work on the Ekoko 2 site must be accelerated in accordance with the Project Owner’s instructions with a view to their delivery by October 30, 2026, at the latest;
- The total amount of Management fees for Addendum 1 will be maintained in the event of an extension of the contractual deadline;
- Pizzarotti will submit for analysis a complete extension request file (between 14 and 24 months) detailing the constraints, justifications, and proposed execution schedule, accompanied by a technical brief, within 21 days, for the work on the Nkolmeyos Industrial Base for approval by the Cameroonian Government;
- Pizzarotti must:
- Accelerate the work of the Concessionaires on both Project sites (ENEO, CAMTEL);
- Proceed with the payment of the remaining balance of CAMWATER’s statement by April 30, 2025, at the latest;
- Mobilize by May 15, 2025, the necessary resources for visible progress of work in Ekoko II (roofing, painting, Imhoff tanks, interior finishes);
- Submit the list and delivery schedule of equipment paid for in statements 1 and 2. To this end, PIZZAROTTI will make arrangements for the Project Owner to receive the material ready for shipment to Cameroon;
- Examine the possibility of financing the 2nd phase of the 1000 housing units which will be built with the Industrial Base;
- Reactivate MATAS once the Industrial Base is completed;
- g) Comply with the Project Owner’s directives.
