South-West Region “Rich in Fishery, Forestry and Wildlife Resources, the Region Is an Ecological Paradise”
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MAJOR PROJECTS AGRICULTURE ENERGY BUSINESS IN MINING INDUSTRY SERVICES FINANCE March 2013 - N° 02 March 2013 CAMEROON P 22-23 FANAF 37th G.A. “We challenge members to honor the claims of victims, our major role” P 6-8 SOUTH-WEST REGION “Rich in fishery, forestry and wildlife resources, the region is an ecological paradise” Roads: towards “200,000 formal sector the end of the jobs will be created in nightmare? P 16-17 the year 2013” P 18 Be a part of building tomorrow’s Cameroon Each month, learn about Cameroon’s economic progress The Business in Cameroon and Investir au Cameroun magazines are both free! • In Cameroon’s embassies and diplomatic posts • In airport VIP lounges in Paris, London and Brussels • In Bourget company lounges • In Business Class on Brussels Airlines and Camair-Co • In Cameroon’s business travel hotels and ministries BUSINESS IN CAMEROON Colonial to contemporary resident Paul Biya’s visit to France size up inputs the French can offer in the moder- between January 27 and February 7, nization process of its economy. Employment for 2013, at the request of the influential young qualified and ambitious Cameroonians, PMEDEF federation, the nation’s largest for instance, remains a perennial problem that union of employers, opens a new page in the eco- investment can resolve. But in drafting agree- nomic relations between our two countries. ments, selfish interest must be dumped, because Until proven otherwise, France remains the first otherwise new investments by French business investor in Cameroon but is restricted to specific persons will benefit only a few in Cameroon. areas historically linked to colonial time. France Years of tears and sacrifice, when Cameroon has remained present mostly in areas it had in- was placed under the Heavily Indebted Poor vested in while colonial master or just after the Countries Initiative (HIPC), are now over. And, independence of our country. It is time for France regardless of the bad publicity from individuals to adventure into other sectors and modernize and organizations armed only with arrogance and existing investments. If there is a time for eve- untruths, Cameroon remains a manageable risk, a rything, then now is the time to give an opportu- country with which investors that are already pre- nity to enterprises born in the new millennium to sent want to reconnect and discover the plethora invest in Cameroon, land of promise and glory. of available business opportunities. Consequently, it was of outmost importance for Opportunities exist in the infrastructure, manu- President Biya to converse with and convince facturing, education, health and governance French industrial tycoons that Cameroonian eco- sectors, without forgetting the new agricultural nomy has never been in a better state, despite a policy as elaborated in the GESP (Growth and difficult international environment. Employment Strategy Paper). French tycoons jumped on this once-in-a-blue- The business environment has improved in moon opportunity to deliberate and propose Cameroon, thanks to reforms in favor of good their offers to the president himself. A queue of governance and the fight against corruption. Fur- investors in Le Meurice hotel, where President thermore, reflections in communion with the pri- Biya granted audiences, a sign of confidence in vate sector are underway to develop a new system Cameroon’s economy. of more attractive tax incentives. Cameroon, a developing country, cannot com- pare with an economic giant like France, but can Jude Viban BUSINESS IN CAMEROON Publisher • Mediamania Sàrl • 19 rue de Veyrier • 1227 Carouge/Genève - Suisse Publication Director • Yasmine BAHRI-DOMON Contributors • Agence ECOFIN, Jude Viban, John MacINTOCH • www.agenceecofin.com Operator • Médiamania Sàrl • www.mediamania.pro • Design : Jérémie FLAUX, Web : Christian ZANARDI Advertisement • Médiamania, Genève • Benjamin FLAUX • Tel +41 78 699 13 72 • [email protected] In Cameroon • [email protected] • Tel +237 99 41 60 15 Printing • Rotimpres, Aiguaviva, Espagne Free – cannot be sold March 2013 / N° 2 -3- BUSINESS IN CAMEROON CONTENTS 34Colonial to contemporary 144A 20 MW Modulation Plant in Douala is Imminent 64Dr Ernest Lytia Molua: “There Is Huge Untapped Potential in the Agricultural 144300,000 Liters of Gasoil to Kick Start 72 Sector in the South-West Region of Generators of Yaoundé-Ahala Thermal Cameroon” Plant 94140 Cocoa Ovens Refurbished in the South- 154Adulteration of Fuel in Yaoundé Drops by West Region 58 Percent in Two Years 94Italian Company Announces Chocolate Company in Limbe This Year 94IMSOFAR Plans Transformation of Tea and Coffee in Cameroon 154WAICO Ltd Wants to Build an Oil Pipeline to Inter-Connect Cameroon’s Cities 164CFAF 85.75 Billion to Build Kumba - 104AfDB Offers CFAF 314 Million to IRAD Mamfe Road for Seed Production 164CFAF 500 Million to Repair Flood 104Price of Irish Potatoes Soars Damages in Northern Cameroon 114Over CFAF 3 Billion to Save Mangroves 174Rehabilitation Work on Yaoundé- in Cameroon Bafoussam-Bamenda Road at 35 Percent 114Climate Change Impacts Water 174CFAF 32.8 Billion for Yaoundé Municipal Availability in Cameroon Lake Makeover 124ART Rejects MTN and Orange 184Biya Projects 200,000 Jobs in the Formal Interconnection Tariffs Sector this Year 124Canal Sat Connects to Orange Money 184Giant Projects in Cameron Cost 23.22 124MTN Backs Professional League with Billion Dollars CFAF 654 Million 194South African Company, Ruhanique 134Katsina Ala Dam Project Enters Second PTY Ltd to Invest CFAF 12 Billion in Phase Cameroon -4- March 2013 / N° 2 BUSINESS IN CAMEROON 194L’Edifice Capital Prepares an Investment 254CBC Bank in Restructuration Envelope of CFAF 130 Billion for Cameroon 264Cameroon Will Borrow CFAF 250 Billion from the Capital Market in 2013 194NEF has Helped About 240,000 Youth to Find Salaried Jobs 264AfDB Lobbies for a Drop in International Transfer Charges 204Local Real-Estate Developers Ready to Use Local Materials in Construction 204G Power Cement Starts an 800,000 Tons Cement Plant in Limbe from March 2013 214Price of CICAM Fabrics Doubles 214Work at Ebolowa Tractor Assembly Plant Advances 274BDEAC Gives CFAF 500 Million for 214Customs Collects CFAF 50.6 Billion in Refinancing of MFIs to FOFIDES January 274“La Regionale Microfinance” Celebrates its 20th Birthday 284Onomo, the International African Hotel Chain, Opens Kribi Unit Soon 284Qatar Airways Preselects 120 Female Cameroonian Hostesses 284Robert Nkili Promises Tough Sanctions 224Insurers Focus on Compensation Against Inter-Urban Travel Agencies Gaps at 37th General Assembly of FANAF 294Cameroon and EU Train Independent 234Yaoundé to Host International Institute of Auditors on Logging Insurance 294World Bank Launches Cameroon Mining 234Christophe Mien Zok Becomes Director sector Technical Assistance Project General of Yaoundé Conference Centre 294Six New 2500 Horse Power Locomotives 244Chanas Assurances Wants to Increase its on CAMRAIL Rails Social Capital in 2013 304AFD Disburses CFAF 5 Billion for 244NSIA Becomes Camair-Co’s Automobile Agriculture, Fishing, and Livestock Activities Insurer in Rural Areas 244AGC Insurance Sacks General Manager 304PNDP to Grant CFAF 11,489 Billion to Councils in 2013 254Cameroon Creates a “Guarantee Fund” for SMEs March 2013 / N° 2 -5- BUSINESS IN CAMEROON AGRICULTURE Dr Ernest Lytia Molua: “There Is Huge Untapped Potential in the Agricultural Sector in the South-West Region of Cameroon” The South-West region of Came- Dr Ernest near-temperate climate at the foot L. Molua, an of Mount Cameroon and the tropi- roon has historically been attrac- Agricultural tive to investors, from colonial Economist cal climate along its coastline make explorers to modern day nationals and Senior the region conducive for locating Lecturer at business endeavours. seeking profitable investments. the Faculty Dr Ernest L. Molua, an Agricul- of Agricul- ture and BIC: It would appear that the re- tural Economist and Senior Lec- Veterinary turer at the Faculty of Agriculture Medicine gion is rich in all sectors of the and Veterinary Medicine of the of the economy; can you please examine University sector by sector, the benefits there- University of Buea, examines ex- of Buea isting investment opportunities in in for an investor? the region. ELM: From the fertile volcan- ic soils in Fako to the rich clayey Business in Cameroon: Dr Mol- soils in Manyu division, the region ua as a seasoned economist and manpower. The climate is attrac- is conducive to the exploitation of someone who hails from the South tive to diverse agricultural com- diverse agricultural commodities West region, if you were asked to modities. The human capital and and plantation crops. The abun- advertise the region to someone richness of the earth, coupled with dant rocky materials churned out who has never been here, what abundant land resources, makes from the active volcano of mount would you say to leave a lasting this region attractive to both large- Cameroon provide abundant po- impression? scale and small-scale intensive agri- tential for quarry enterprises and Dr Ernest L. Molua (ELM): The cultural businesses. Rich in fishery, the production of building materi- South-West region represents Cam- forestry and wildlife resources, the als and cement. The rich flora and eroon in miniature, with a complete region is an ecological paradise. fauna make this region a heaven for package of Cameroon’s ethnic and Only a fort-minute drive from the ecotourism and for anyone wishing cultural diversity,