Business

Commenting during a roundtable organised during the international economic conference which took place in Yaoundé from 17 to 18 May 2016, Paul Kammogne Fokam, 2^nd fortune in sub-Saharan francophone Africa according to Forbes magazine, suggested to the Cameroonian government to strengthen the economic cooperation with Nigeria through a formal economic partnership agreement (EPA). “Investors want the government to start negotiations for the signature of economic partnership agreements with Nigeria instead of the European Union”, he declared.

Through this proposal, the founder of the Afriland First Bank group, who also deals with the MC2, the 2^nd largest network of microfinance establishments of the country, has thus taken a stance opposite to Jose Manuel Barroso. At the opening of the Yaoundé conference, this former president of the European Commission congratulated the Cameroonian government on having signed a provisional EPA with the EU, and encouraged other African countries to move in the same direction considering, he explained, of the opportunities offered by the EPAs in terms of investments growth and new markets.

Upon further consideration however, Jose Manuel Barroso and Paul Kammogne Fokam both seem to agree on the benefits of economic integration as an investment accelerator. “Our countries on their own cannot do anything. It is with the others that we can create a sufficiently attractive market to capture investments and trade”, Mr Barroso pointed out.

However, if for the former Portuguese Prime Minister Cameroon’s and Africa’s hope in terms of investment growth could be through the signing of EPAs with the EU, the above-mentioned Cameroonian industrialist, on his part, rather favours EPAs with Nigeria, the most populated country in Africa (over 150 million inhabitants) and first economy of the continent with whom Cameroon shares about 1,500 km of borders, and whose standards to be applied to products are certainly less rigid that those in force in the European Union.

BIC

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Rita Akana

24.May.2016

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All things being equal, Phase II of the ongoing construction of a double-carriage (express) road between Yaounde and Douala will be carried out by another Chinese firm, but this time around on a new model - Build-Operate-Transfer (BOT), within the Public-Private Partnership Framework. This entails mobilising the funds, executing the project and running it for sometime before handing it over to government.

Authorities of Poly Group Corporation told Cameroon Tribune at its headquarters in Chinese capital, Beijing, recently during a presentation of the multifaceted outfit to African journalists that the project constitutes one of the hallmarks of the excellent Sino-Cameroonian relations. Sources in the company monitoring the project disclosed that in less than two weeks (from last week), they would finalise pre-feasibility studies and forward them to Cameroon's Ministry of Public Works. This will pave the way for procurement modalities to begin.

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Rita Akana

23.May.2016

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For the past months now in Buea the chief town in the South West Region in Cameroon has been suffering from constant scarcity of the red SCTM cooking gas. This crisis has so far left many inhabitants in the town desperate and at times hungry as the go for days without the basic commodity.Long queue at Malingo waiting desperately for Cooking gas.

The government on her part, in a bit to address the crisis has commissioned officials to the field to check and insure that local suppliers of the SCTM cooking gas in Buea don’t skyrocket the prices to desperate customers.

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kengjisi

21.May.2016

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The Cotton Development Company (Sodecoton), the leading agro-industrial company in northern Cameroon, bought slightly over FCfa 78 billion worth of cotton from producers during the 2015-2016 season, we learn from an official communiqué issued by the company.

According to the same source, the 250,000 producers this public company manages with the support of the National Confederation of Cotton Producers of Cameroon (CNPCC), each year receive loans worth approximately FCfa 38 billion for the purchase of inputs.

In order to facilitate the collection of the production from producers, we learn, Sodecoton maintains every year about 7,000 km of roads in northern Cameroon. This agro-industry also claims the creation of 26 km of track roads, again for the collection of the cotton produced.

BRM

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Rita Akana

21.May.2016

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Cameroon’s capabilities of attracting business investors is one among the many items sidelined in the first ever International Investment Forum hosted by Cameroon last week at the Yaounde Conference Centre.

The country has been referred by many as one of Africa's best-kept secrets based on its agriculture, fishery, mining hydro-electric resources; Topography, soils and climatic conditions.

The same tributes were highlighted by key speakers of the conference such as President Paul Biya and the Chief Executive Officer of  the United Bank of Africa- UBA- Tony Elumelu.

The Lom Pangar Hydro Electric dam (second world largest dam); the Menchum Falls, the Beta Oyare gold mine in the East Region, the Equatorial forest, the 50 km tarred roads, are few among the many potentials worthy of attracting business investors to Cameroon.

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Rita Akana

21.May.2016

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Some economic partnerships to promote investments in Cameroon, have been signed at the just-ended International Economic Conference.

The conference which ended on 18th May 2016 was fertile grown for investors in various sectors to strike deals with Cameronian business operators.

The representative of a British-based company - NMS, Frederick HSU says they intend to embark on a project of up to 10.000 affordable houses to be constructed in Yaounde, Douala and Kribi. A project he estimates at about 208 million Euros.

A representative of Nigerian economic guru, Dangote says the company is not only interested in cement but also aims at investing in agriculture since to him, Africa should be self-sufficient in food production

Big deals to espand digital technology were also arrived at as some start-ups signed contracts with foreign investors and local companies.

The intra-urban bus transport system in Yaounde was also major target as well as the project to develop the Municipal Lake which the Yaounde Government Delegate gilbert says will cost about 200 billion CFAF.

Richard Howe, a businessman present in Cameroon since the 1980's mentioned his optimism in relation to the fallouts of this economic forum.

Another major economic move was the convention signed between the Investment Promotion Agency and the Moroccan Attijariwafa Bank group (referred to as SCB in Cameroon) for information exchange and funding of investment projects.

CRTV

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Rita Akana

20.May.2016

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