CAMEROON SAVES OVER 1.5MILLION FCFA, ONE MONTH AFTER IMPLEMENTING SYSTAC

Source: www.africanakua.com|Ngwenekome Priscilia Ahone, Cameroon (Yaounde)

Cameroon has been able to save 200 million FCFA at the end of August after implementing the new payment system for public officials, better known in its French acronym, SYSTAC.

This was revealed in a recent interview Moh Sylvester Tangongho, the Director General of the Treasury, granted to the press.

This ongoing system in the nation, official sources say, was implemented a month ago on August 14 known as the Tele-compensation system in Central Africa, SYSTAC. It is aimed at supplying payments and pensions directly to civil servants, which is opposite to the old system known as the automated large amount system with its French acronym SYGMA.

As explanations to how the 200 million FCFA savings came about, Moh Sylvester revealed that the treasury had rejected 239 transfers processed out of 412,401, which were unexploited accounts even before the launch of this new system.

However, he further said that they had 1524 transfers returned after payments of August 23. “We have had a return of 200 million FCFA compared to the 1524 transfers which can give us 2.4 billion FCFA a year”, he added. He also disclosed that among the 1524 returns, there are many closed and unusable accounts.

It should be reminded that during the launch ceremony of SYSTAC, the Minister of Finance, Louis Paul Motaze stated that the system is to make Cameroon compliant with article 43 of CEMAC’s code of conduct in the operation of payment systems in the CEMAC area. He explained that this will exclude the aggregation of payments whose normal value is less than 100 million FCFA in a single operation.

“The purpose of SYSTAC is to pay wages at the right time to avoid payroll errors within 72 hours, to ensure an instant return of wages and salaries not given to the beneficiaries and to better understand the issues related to litigation of rejected wages”, explained the minister.

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