Why Many Family Businesses In Cameroon Do Not Survive Their Founders (Part 16): The Interesting Story About The Family Business, FAKOSHIP.

Unlike Most Founders Of Family Businesses In Cameroon, The Founder of FAKOSHIP, Mola CHARLES NAMME MENYOLI, Groomed Some OF His Children In The Management Of The Business Empire

 Two Years After The Death Of Pa MENYOLI, The New Management Team Of FAKO SHIP Is Struggling Hard To Ensure The Survival Of The Family Business

 But Like In All Businesses, The Management Team At Tines Face Some Man- Made Problems. There Have Also Had Some Doses Of Misfortune

Born in his native village, Small Soppo, Buea, on September 26, 1930, the business magnate, dedicated Christian and philanthropist, Mola Charles Namme Menyoli, who was fondly called Pa Menyoli, passed away on June 25, 2023.  This means that it is now a little over two years that Pa Menyoli, passed away.

Meanwhile Pa Menyoli left this world after having through very hard work, blended with solid business acumen, courage and great managerial talent, indisputably and humbly established himself as one of the richest Anglophones that this country called Cameroon, has ever known. The business mogul, Pa Menyoli, left this world, leaving behind a thriving business chain known as Fako Transport and Shipping Company Limited (FAKOSHIPP Ltd).  Looking at what has over the years happened to many Family Businesses in Cameroon that failed to survive after the Founders passed away, the question after his death should definitely have been  whether the thriving Family Business,  FAKOSHIP, would survive its Founder (Pa Menyoli)

  Resigned As Estate manager In CDC, To Venture Into Business  

From the bits and pieces that THE MENTOR NEWS gathered from sources, including a write up by ‘Nexdimempire’ that did a profile of the business magnate and philanthropist, Pa Menyoli after studies joined the Cameroon Development Corporation, CDC, where he rose to the post of Estate Manager.  He later resigned as Manager of Lobe Estate to venture into business.  While in business, Pa Menyoli tried his hands in many domains. He was somebody with a positive thinking mind, never giving up in business, no matter what happened, but rather constantly looking for new avenues. In fact, while in business Pa Menyoli never stayed just in one domain at a time, probably inspired by the adage that you don’t put all your eggs in one basket.

 Pa Menyoli’s Take Off In Business, Was In The Entertainment Sector  

 Mola Charles Namme Menyoli started up his business career in the then Southern Cameroons, in the entertainment sector.  He  opened an on- license bar known as  Paragon Bar, Still in the entertainment domain, Pa Menyoli later opened the Blackwatch Nigh Club in today’s Limbe.  Definitely exploiting the knowledge and experience he gathered when he worked at CDC, Pa Menyoli also went into agriculture, setting up a banana plantation and later the Menyoli Palm Estate. He also along the line went into poultry farming. Pa Menyoli also created the once famous Hunter’s Market at Mutengene. As could be seen, Pa Menyoli did not limit his business activities to his native Buea, as he spread them out for other parts of Fako Division to also benefit.

Meanwhile, Pa Menyoli also went into what is commonly known as car business or car dealership, setting up the Menyoli Motors.  Pa Menyoli’s Family Business, was also at one time the exclusive dealer in Coca-Cola in Cameroon. Worth noting, that Pa Menyoli was also the proprietor of the once famous Hotel Mermoz in Buea, which is still surviving, despite the several new challengers in town.

The Birth Of FKOSHIP IN 1978

The Fako Transport and Shipping Company Limited, FAKOSHIP, which is the existing chain of Family Business that the Founder, Charles Namme Menyoli (Pa Menyoli), left behind when he passed way in June 2023, was founded in 1978. FAKOSHIP was later designated by the State of Cameroon as a National Shipping Line. In 1995, FAKOSHIP won the bids for all three maritime outsourced activities of the National Oil Refinery, SONARA. The National Shipping Line, FAKOSHIP, has in the maritime sector been operating in collaboration with SONARA and the Port Authority of Douala, PAD.

Meanwhile in 2003, Pa Menyoli’s FAKOSHIP also extended its activities into the finance sector, creating the micro finance institution, Security Finance Corporation PLC, SEFRACORP. Before the passing away of Pa Menyoli, FAKOSHIP had also extended its activities to the domain of real estate.  FAKOSHIP engaged in the construction of commercial and residential buildings, which constitute the real estate.  FAKOSHIP engaged in the construction of low – cost houses at the Bulu area in Buea, to help curb the growing accommodation problem in the Southwest Regional Headquarters, Buea.

May Pa Menyoli’s Legacy Lives On

As can be seen, FAKOSHIP is a huge Family Business or Business Empire that the Founder and business mogul, Mola Charles Namme Menyoli, left behind when he passed away in June 2023.  Pa Menyoli’s great management or leadership quality at the helm of FAKOSHIP, led the company to win many awards or honours, including the famous international award, INTERNATIONAL GOLD STAR FOR QUALITY.

It should be noted that besides business activities, Pa Menyoli also at the same time carried out many activities in the social domain like in sports promotion. He was for example the Founder of Thunderbolt Football Club of Buea. Pa Menyoli who was a committed Christian, was a big Philanthropist. He contributed quite a lot of money to Church projects, and also assisted many people in need.

Founder Of Family Business Groomed His Successors

As regard the succession in the management of the Family Business, FAKOSHIP, Pa Menyoli first groomed one of his children, Thomas Malelo Menyoli, to eventually succeed him in the management of the Family Business, which was a very wise decision. Pa Menyoli also later brought in more or his children or closed family members into the Family Business. He groomed them to each handle different things in his business chain.  This was a wiser decision. So Pa Menyoli was one of the very few Founders of Family Businesses in Cameroon that was wise enough to do the right thing, by grooming his successors in the management of the Family Business.

Not An Easy Ride So Far

The last two years following the passing away of Pa Menyoli, has not been an easy ride for his children that took over the management of the Family Business, as they do miss his great advice.  Like in all businesses, little problems do come in here and there in the business.  The real estate unit of FAKOSHIP for example, has had some problems with a number of unscrupulous or unreliable tenants, which at times have had to be dragged to court, for being too recalcitrant.  There was the case of Moise Monangai for example, that had to go to court, after management had done everything for an amicable settlement, for the tenant to clear his accrued rents and also leave the house. But he would neither pay the accrued rents nor leave the apartment he was occupying. The children of the late business magnate at one point concerted, and authorized that FAKOSHIP should drag Moise Monagai to court.

FAKOSHIP Goes To Court

The case was filed by the lawyer of the plaintiff (FAKOSHIP), FAKOSHIP, at the Buea Court of First Instance, and registered as Suit No. /CFIB / 104 / WP / 2024.   Judgment (CFIB / 03 / CJ/2025) was delivered on the matter a few months ago, by His Lordship Njonjo John Njie., The Judge  ordered Moise Monangai  to pay  the accumulated  rents he was owing, and  leave the apartment he was occupying within two days, or the door of  the apartment would be forced open by the plaintiff in the matter.  Monangai was also ordered to pay some other charges. The Grand Total that the court ordered Moise Monangai  to pay to FAKOSHIP as ordered by the court, was 6, 414,940 FCFA (Six million, four hundred and forty one thousand, nine hundred and forty FCFA).  The latest development in the matter is not clear, but there are doubts as to whether Moise Monangai could pay that big amount of money.

Some sources alleged that Moise Manangai used to work for FAKOSHIP, and was quite close to the Founder, Pa Menyoli, but that when Pa Menyoli passed away, the children who took over the complete management of the Family business did not want him around, and that was the cause of the problem. However, one of the lawyers of FAKOSHIP in that matter, Barrister Njie Valery M. Muambo of Lifanje Law Chambers, when contacted by The Mentor News, dismissed the allegation as spurious. He said the problem between FAKOSHIP and Moise Monangai, was simply a landlord – tenant problem, and that Monangai was not a worker of FAKOSHIP.

Fire At MEMOZ Hotel

Meanwhile, the new management team at FAKOSHIP has also faced some misfortunes. Last year for example, there was an outbreak of fire at MEMOZ Hotel In Buea.  FAKOSHIP has since renovated the hotel, and reopen the doors for business. Fortunately that no person died in the fire incident, or else all sorts of stories would have come up.

The Challenge For The Management Of FAKOSHIP

Nexdimempire wrote that the real estate enterprise which is one of the affiliates of FAKOSHIP was created “to provide collateral to raise capital to grow, and keep the company (FAKOSHIP) sustainable and competitive across many future generations”.

This means that the Founder of FAKOSHIP, Pa Menyoli, on his part laid a good foundation that can help the Family Business to survive him for generations to come. The challenge is now for the family members that took over the management of FAKOSHIP after the passing away of the Founder, to ensure that the legacy of Pa Menyoli lives on. This will be not only be, for the interest of today’s generation of the Menyoli Family, but also for future generations, and of course the society as well.  Why should the brand, FAKOSHIP of Cameroon, not grow to become like the SAMSUNG brand of Japan!