That in Cameroon we have promoters of Temporary Employment companies and Private Worker placement offices?
The opening of these companies is subject to the prior granting of an authorisation issued by order of the Minister in charge of employment and vocational training.
Amongst other documents, the promoters are expected to have a bank guarantee from a banking institution approved by the Minister in charge of Finance known as the solvency guarantee. This money belongs intuitu personae to the company.
The promoters are also expected, to do a financial contribution of one million five hundred thousand Francs CFA for temporary placement companies and five hundred thousand Francs CFA for private worker placement offices and agencies paid in the form of a postal order.
If the promoter is of foreign nationality, the company must reserve at least 51% of the shares of its capital to Cameroonian nationals.
The non-respect for the rules attracts both administrative and penal sanctions.
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