Frankly Speaking

By Franklin Sone Bayen
If no one is suspecting anything beyond regular procedure in the recent decision by the Central African Banking Commission (COBAC) to place the Commercial Bank of Cameroon (CBC) under watch for possible liquidation, Yves Michel Fotso, proprietor of the bank, is crying foul.

While admitting that CBC is not faultless, Fotso is alleging that COBAC is being manipulated by Equatorial Guinea to settle scores after his bank won a case against the neigbhouring state, obtaining 40 billion FCFA as damages because Malabo illegally prohibited establishment of a CBC branch there. CBC lawyers were in the process of identifying Equatorial Guinea accounts abroad to obtain payment of the penalty when the COBAC sanction fell. Fotso considers the sanction, that discharges him of his functions as board chair of the bank, too severe and hides ulterior motives.

Yet, even those accusations seem to be only part of the story. The paternalistic intervention by the Cameroon government to “bailout” the bank looks like a calculated first step towards embracing a rival to suffocate him – stepping into the Fotso Empire to eventually own it (seize it) or crumble it.

But why?

It has not been said how Yaounde and Malabo would have conspired to suffocate CBC. However, it can be conjectured that, just as it is possible Malabo is pulling its oil weight in COBAC – that little country holds more than 47% of reserves in the Bank of Central Africam States (BEAC) – our government was also in a position to defend CBC if it had the will to. Apparently, it did not. Instead of chasing the hawk before chiding the chicks, our government seems to have let the hawk grab the chick before engaging wings to go to its rescue. All of that to look magnanimous and, while the public applauds, reap from Fotso family sweat.

There are precedents to show that when some persons in authority are uncomfortable with the actions or mere existence of certain individuals, they use the huge state machinery to crush them. They settle personal scores or sometimes do so on behalf of the president.

Henri Sack who ran TV Max, the first private TV in Douala, had a taste of it when former CRTV GM, Gervais Mendo Ze, presented him as an anti-patriot simply because TV Max acquired exclusive rights for a Cameroon international match earlier this decade, and required CRTV to buy the images. Insisting national team matches are a matter of sovereignty, Mendo made CRTV broadcast the match in defiance of TV Max’s exclusive rights, of course, without payment. Somehow, CRTV went on to defeat TV Max in a case in France.

That was only the beginning of trouble for Sack. TV Max was thenceforth always put on the wrong side of the law. Its transmission pylons around Village, a neighbourhood on the Yaounde outlet from Douala were knocked down for “being too close to the Douala International Airport, posing a risk to planes in flight”. Other pylons around were spared. TV Max eventually died slow death. In the early 1990s, Victor Fotso and Kadji Defosso turned coat from early support for the newly-created opposition Social Democratic Front (SDF), when government tax agents showed them red.

Fotso since become a pillar of the Biya regime, bankrolling its operations. He is presently mayor of his Bandjoun hometown, near Bafoussam on the ticket of the president’s party. He is also known to have used his influence to position some of his several wives at elective positions. At least one of them is deputy mayor of the Yaounde I district. Another is Member of Parliament. Apparently through the same influence, his son Yves Michel, a private sector personality, became managing director of Cameroon Airlines (Camair), a position hitherto reserved for government cadres.

Yet does it look like some elements of the Biya regime believe Yves Michel was party to a plot to have the president killed in a faulty plane by purchasing the Albatross. He was involved in the deal because the government undertook the purchase, pretending the plane was for Camair use, to avoid scrutiny by the IMF which thought such a purchase just for the president’s comfort, was misplaced priority at a time Cameroon was making its case for HIPC debt cancellation in the middle of this decade.

Now that son of Victor Fotso is swearing he will defend his property even with is life. Such statements are not often heard from people of Fotso’s stature. He believes COBAC is just a subterfuge for people with diabolic motives. “I’m sorry, but if it becomes an institution used to eliminate people, I’m ready to die. I’ll accept to be sacrificed,” said Fotso in a telephone intervention on an talkshow a fortnight ago, on a Douala-based private TV channel, STV.

So why would a “prince” put his life on the line like that?

And that was not Fotso’s first media outing on a burning issue. Late last year he came out strong in an interview broadcast simultaneously by three private TV channels (STV, Equinox TV and Canal 2) telling his side of the story over the Albatross Affair. His approach, maximizing TV audience through the three channels, was so effective everyone was talking about it the next morning. Fotso’s smartness apparently vexed certain people in authority.

The Fotso heir, who has been on a travel ban, might have been saved from prison last year only by his father’s personal intervention when he was summoned to the Judicial Police in Yaounde. To protect him, his aging father accompanied him to Yaounde, spent the night in his hotel room for fear he could be abducted and the next morning, accompanied him for the police interrogation, as if to say “that’s my son, if you will take him, you’ll have to take me too.”

The younger Fotso walked free from there. Hardly anyone implicated in the Albatross Affair walked free after visiting the Judicial Police. But whether he can free the family empire from this suspected onslaught may take more than his father’s watchful eyes.

This posting first featured on my column "STATE OF THE NATION" in Standard Tribune (currently on the market), published in Yaounde Cameroon