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Despite significant financial and technical resources mobilized by the State through financial institutions, local development has not followed the investment curve and the peasantry is still drowned in underdevelopment. In the 1960s, the State of Cameroon launched the five-year development plan where, one of the major components is the development of structuring projects keeping in mind the construction of agro-industrial complexes to serve as models for small farms placed under their supervision. Therefore, specialized development companies (SODES) such as SODERIM, UGICAES and UGIRILCOPAM were created and received 1,200,000,000FCFA, 20,000,000FCFA and 177,000,000FCFA respectively and 5,200,000FCFA grants each per year. However, it is difficult nowadays to appreciate the input of this funding into local development. This study aims at evaluating the contribution of agricultural project financing to local development and its sustainability in the Mbo plain. We used empirical observation based on semi-directive interviews with the managers of SODERIM, UGICAES and UGIRILCOPAM firms (former employees), and questionnaire administration to peasants and agricultural extension agents as well as the exploitation of secondary data collected from the Sub-Divisional Delegation of Agriculture, registers of these firms, and field observation. Results show that SODERIM, UGICAES and UGIRILCOPAM did not foster the development of the Mbo plain and all went bankrupt when funding stopped since they were unable to self-finance. The determinants of these local agricultural firms failure were both external and internal. The infrastructural, political and socio-economic aspects have remained dormant. Thus, financing has not stimulated a new peasant dynamic in an autonomous framework.

Determinants of Failures of Local Agricultural Firms in Cameroon: The Case of Soderim, Ugicaes and Ugirilcopam in the Mbo Plain (Cameroon)