Mount Cameroon Fund (MCF)
It is estimated that the second phase of PSMNR-SWR will end by June 2017. Taking this deadline into consideration, the programme is envisaging the creation of a Mount Cameroon Fund (MCF) as sub-initiative under an existing structure of an umbrella local structure such as the Cameroon Mountains Conservation Foundation (CAMCOF).
The MCF should provide a trustworthy local financial mechanism at the centre of protected area financial operations and serve as an efficient collector/distributor of funds on behalf of the Mount Cameroon National Park. The MCF should be a light structure which would play the role of financial manager of diverse sources mainly originating from the private sector of funding like trust fund, biodiversity offsets, PES, REDD, and of some revenues generated by the Park.
Potentially private, the MCF should also involve companies targeted are those that benefit from the services and the image rendered by the Mt Cameroon National Park (Supermont, Seme, SONARA, Guinness etc). Though examples of successful corporate partnerships in West and Central Africa are still rare, the potential exists, especially with major economic actors with very high visibility, such as cell phone operators (MTN, Orange, etc.). Those companies could associate their image by sponsoring important events like the Race of Hope in Mount Cameroon.
Setting up agreements on voluntary basis with yearly contribution to a sinking fund represent the best options for attracting additional source of funding.
Such agreements are foreseen to contribute to finance the collaborative management approach adopted by the Mount Cameroon National Park. It would contribute to win the full consent of local communities and to encourage their long term participation in collaborative management activities and in the preservation of carbon stocks and water quality. The Councils within this scenario are considered as significant partners for the promotion of such initiative, which aims at the reconciliation of development and conservation goals.