Disclosure issues in Cameroon
Lead NCPUnited States
Supporting NCP(s)None Selected
DescriptionSpecific instance notified by the NGO Greenpeace regarding the activities of Herakles Farms and Herakles Capital operating in Cameroon.
Theme(s)Disclosure
Date11 Mar 2014
Host country(ies)Cameroon
SourceNGO
Industry sectorAgriculture, forestry and fishing
StatusNot accepted
Summary

Read the initial assessment issued by the US NCP concluding the specific instance  - 19 May 2014


In March 2014 the US NCP received a request for review from the NGO Greenpeace alleging that Herakles Farms and Herakles Capital (Herakles), the former of which is a New York-based entity, had breached the disclosure provisions of the Guidelines in Cameroon. Specifically it was alleged that Herakles neglected to provide public documentation of its financial and operating results, financial contributions to All for Africa, and major share ownership and voting rights.

The NCP conducted an initial assessment of the specific instance and determined that the issues raised did not merit further examination. The NCP based its decision on the fact that the public documentation that Herakles provides on its website in large measure duplicates the relevant information that shareholders would expect from the annual report of a multinational corporation. The NCP therfore declined to offer its good offices for mediation and issued a statement detailing its decision and concluding the specific instance.