Geneva and Cameroon
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MAJOR PROJECTS AGRICULTURE ENERGY BUSINESS IN MINING INDUSTRY SERVICES FINANCE October 2013 • N° 9 October 2013 CAMEROON 9th Ema Invest forum special Geneva and Cameroon : The New Win-Win Investors Forum Kribi Deep Seaport South Korea and Brazil in November in Operational in June Share Their Knowledge Cameroon 2014 With Cameroon BUSINESS IN CAMEROON Godwill Nkwain Swiss-Cameroon: Time for Action! he 9th EMA Invest Forum come economy with substantial and has come and gone in the sustainable investment, especially Swiss city of Geneva, but foreign direct investment, as a key. its echoes will linger on for The EMA Invest Forum was the right Ta long time. As participants continue platform to market its resources and to remember the beautiful Hotel des opportunities for investors. Bergues, which hosted the memo- Without any gainsay, this was well rable event from October 3-4, 2013, done. For example, Mines, Indus- much is expected from the business tries and Technological Development contacts created there. Minister, Emmanuel Bonde, present- It goes without saying that the Geneva ed the country’s rich mining sector forum was a veritable rapprochement as ripe for investors to transform the between Swiss and African investors. reserves still buried in the soil into It brought together stakeholders in wealth for economic growth. Equally Africa’s economy, businesspeople and Cameroon, like the rest of Africa, was Swiss investors to scan the amazing presented a medley of opportunities potential of African economic growth in the Swiss financial sector. Contacts and the vast capacities of the Swiss fi- were created, no doubt, and now that nancial sector. Its theme was “Geneva both sides know what one another and Africa: the new win-win.” has and needs, it is time for action Cameroon, as Guest of Honour at the to bring to fruition the potential re- forum, had a lot to give and take. The vealed at the Geneva rendez-vous – to country has negotiated an irreversible the mutual benefit of all. push toward becoming a middle-in- BUSINESS IN CAMEROON Publisher • Mediamania Sàrl • 6, rue du Léman • 1201 Genève • Suisse Publication Director • Yasmine BAHRI-DOMON Contributors • Agence ECOFIN, Jude VIBAN, Godwill NKWAIN • Bainkong GODLOVE • www.agenceecofin.com Operator • Médiamania Sàrl • www.mediamania.pro • Design : Jérémie FLAUX, Web : Christian ZANARDI, Proofreader : Matt BROWN Advertisement • Médiamania, Genève • Benjamin FLAUX • Tel +41 78 699 13 72 • [email protected] In Cameroon • Albert MASSIMB • [email protected] • Tel : 00 237 94 66 94 59 / 00 237 77 75 13 98 Printing • Rotimpres, Aiguaviva, Espagne Circulation • Albert MASSIMB • [email protected] • Tel : 00 237 94 66 94 59 ou 00 237 77 75 13 98 Free – cannot be sold October 2013 / N° 9 -3- BUSINESS IN CAMEROON CONTENTS 034Swiss-Cameroon: Time for Action! 164Brazil Shares Agriculture Experience 064Cameroon’s Mining Minister Bonde Tells 164Cocoa Farmers Learn Better Production Investors: “Our Arms are Open to Receive Skills You” 174Government Certifies Meat in South West 074Financing Proposals from Symbiotics 174Sugar production by Sosucam Drops to 084Attracting Julius Bär Group 110,000 Tons of Sugar in 2013 094When Technology Reduces Poverty 174Chicken Prices Affordable in Yaounde Markets 104MFI Financing: BlueOrchard Model 184Kribi Deep Seaport Project Recruits 1,100 114Producing Energy From Sugar Cane soon Cameroonians in Cameroon 184Kribi Deep Seaport Operational in June 124Opening the Energy Market to IPP 2014 134How to Tap IFIs 18486 Billion AFD Funds for Cameroon in 2012 1441.5 Billion CFA Boost to Pineapple Processing in Awae 19422 Million PNDP Infrastructure Spending in the West 144Agricultural Equipment Given to Mbam and Inoubou Farmers 1941,600 Projects Financed by PNDP Since 2010 154Rice Price Hikes in Markets 194Cameroon has 4,500 Building Norms 1543 Million Hungry People in Cameroon 204New Financial Service Provider Launched 154Cameroon-grown Rice Scarce, Expensive 204Women Trained to Build Credit Portfolios 164Cameroonian Fishermen Learn Aquaculture Skills 214EU To Sponsor 40 Women Cooperatives -4- October 2013 / N° 9 BUSINESS IN CAMEROON 214First-ever Cameroon Investors Forum in 2743 Billion CFA to Refurbish 21 Community November Radio Stations 224409 Solar Lamps Along Soa Road 284World Bank Projects 5.3% Growth Rate for Africa in 2014 224Cameroon Increasingly Embraces Renewable Energy 284Kuwait Fund Prospects in Cameroon 224Cameroon Wants to Regulate Biogas 29423 billion CFA Youth Entrepreneurship Production Project Gets Underway 234South Korea to train Cameroon’s Hydro 29416.9 Million CFA for 37 Adamawa Infrastructure Developers Youngsters 234Fundraising to Ensure Sight 294Pajer-U Gives Over 19.7 Million CFA to South West Young People 244Forest Management and Monitoring Project makes ‘Satisfactory’ Progress 304Revenue Collection Drops Below Projection 244Cameroon Acquires Logging Control Software 304State Accountants Learn Best Practices 254Cameroon’s Tourism to Emerge 314Tax Recovery Picks Up 254World Bank Faults Cameroon’s Tourism 314Customs Revenue Drops Again Governance 324BEAC Sharpens Money Laundering 264Better Wireless IT Solutions for Combat Skills Cameroon Companies 324Government Hands Down PIB 264Central Africa Prepares Proposals for Responsibilities Geneva Radio Conference 334CASTING 274MTN Donates Multimedia Centre to Ngoumou School October 2013 / N° 9 -5- BUSINESS IN CAMEROON FOCUS Cameroon’s Mining Minister Bonde Tells Investors: “Our Arms are Open to Receive You” boosting mine production, pro- cessing and industrialization in the country are among the long-term development objectives of Came- roon’s Growth and Employment Strategy Paper. “With an attractive mining code and the decision that at least 15 per cent of mineral production shall be processed locally, as well as the April 18, 2013 law on private investment incentives in the country, the gov- ernment has proved its willingness to ensure public/private partnership in discovering and exploiting the riches of the subsoil,” Mr. Bonde said. He cited giant projects such as the bauxite seam at Minim-Martap and Ngaoundal, which has estimated reserves of 500-700 million metric tons and requires about 5 to 6 bil- lion dollars to create about 1,500 to 2,000 direct jobs for the popula- tion, and multi-billion dollar iron Emmanuel Mines, Industries and Techno- would-be investors with a view to Bonde, ore projects in Mbalam, Mamelles, logical Development Minister wooing them so that they can both Minister Nkout and others, to show just how transform the reserves into wealth of Mines, much investment is needed. charmed investors with the huge Industry, potential of Cameroon during the and boost the country’s socio-eco- and Tech- These and others are just a fraction Geneva EMA Invest Forum in nomic development. nological of what the country offers, given And the recent EMA Invest Forum Develop- that around 60 per cent of the coun- October. ment of in Geneva was just one of the occa- Cameroon try is as yet unexplored and its min- Cameroon is greatly endowed with sions for the Minister of Mines, In- eral hoard unknown. Getting on enormous potential in minerals dustries and Technological Devel- board to explore these riches, and and natural resources. The coun- opment, Emmanuel Bonde, to once developing those already known, is try’s subsoil is rich in gold, dia- again tell the world that Cameroon what the government expects from monds, iron ore, bauxite, cobalt/ has unmatched riches buried in its investors. nickel, and uranium, to mention subsoil which could be uncovered “Our arms are open to receive you,” just a few. Authorities in the coun- for the mutual benefit of both in- the minister told potential inves- try have been using every available vestors and the country. tors. opportunity to sell this potential to The minister told investors that -6- October 2013 / N° 9 FOCUS BUSINESS IN CAMEROON Financing Proposals from Symbiotics microfinance investment and SME Roland com, the largest online research and The investment boutique stole the Dominicé, show during the 9th EMA Invest impact investment services, offered CEO Sym- brokerage platform in the micro- Forum in Geneva. financial intermediation services to biotics SA finance and SME impact investing over 29 investment funds special- industry. Furthermore, Symbiotics Financing investments has always ized in microfinance in addition to has hired more than 107 experts in been a problem in Cameroon and institutional investors and devel- four continents, establishing offices elsewhere. Solutions could come opment banks, invested more than in Cape Town, Geneva, Mexico City from near and far, and Symbiotics, a 1.5 billion dollars in microfinance and Singapore. Geneva, London, Mexico City, Sin- and the development of small and “Symbiotics supports financial in- gapore and Cape Town-based com- medium enterprises since 2005, and stitutions, mostly microfinance in- pany with a staff of over fifty pro- has visited and analysed over 687 stitutions but also more generally fessionals, has a role to play in this financial institutions, investing in financing intermediaries which tar- sector. Known as an “investment over 50 emerging countries. It has get micro, small and medium enter- boutique” specialized in emerging, also funded as many as 533,759 mi- prises and low income households in sustainable and inclusive finance, cro, small and medium-sized enter- emerging economies,” Chief Execu- offers research, and advisory and prises, thereby indirectly support- tive Officer,