“Investing in Cameroon, Land of attractiveness”
YAOUNDE, May 17th -18th 2016.“Investing in Cameroon, Land of attractiveness”
The African Chamber of Trade & Commerce invited at the Conference
Cameroon is a country with huge economic potential.
Its strategic geographic position, which makes it a foremost outlet for central African countries, abundant natural resources and fertile land, as well as a young, skilled workforce, give Cameroon many unique assets.
An economic diversification policy implemented in recent years aimed at developing value chains in agriculture and expanding the construction and energy sectors. Cameroon currently has the most diversified economy in the region: agriculture accounts for 22.2% of GDP, the secondary sector 30.1% and the tertiary (services) sector, which is dominated by transport, retail, mobile phone and financial services, represents approximately 47.7%.
Several strategic projects have been launched in key areas of agro-processing, road infrastructure, energy, real estate and urban development, extraction, and new technology industries.
Despite the region’s security challenges, global economic uncertainty and volatile oil prices, Cameroon’s economy has proved resilient, with annual growth remaining strong at over 5%.
There is significant opportunity for economic projects and partnerships. The time is ripe today for businesses and investors to strengthen their presence in Cameroon.
The “Investing in Cameroon — Land of attractiveness” conference aimed to reveal Cameroon’s huge potential and pinpoint the countless investment opportunities available in the country’s major projects.
Cameroon is located at the gulf of Guinea, strategically in the heart of Africa, at the crossroads of the tropical north and the equatorial south.
Cameroon is bordered :
- On the North by the Republic of Chad ;
- On the East by the Central African Republic;
- On the South by Gabon, Equatorial Guinea and Congo Brazzaville,
- On the West by the Atlantic Ocean and Nigeria.
|AGRI-POTENTIAL||Ranked no 36 in the world in agricultural potential by FAO|
|ARABLE LAND %||13% of all available land|
|AGRI-EMPLOYMENT||60% of employable population.|
|PERMANENT CROPING||2% of arable land.|
|RAIN FOREST %||20millionn hectares of forest|
|ARABLE LAND||7.3 million hectares|
|ARABLE LAND IN USE||1.3 million hectares|
|COTTON PRODUCTION||World’s 12 biggest exporter of cotton.|
80,000 metric tonnes produced by 300,000 farmers from 172,000 hectares. COCOA Cameroon is the 5th biggest exporter of cocoa .About 4 million farmers produce and export 120,000 metric tonnes per year. COFFEE Once the second biggest exporter of coffee after Brazil.
Today produces about 100,000 metric tonnes. BANANAS Once the world biggest exporter of bananas today produces 250,000 metric tonnes MINERAL RESOURCES 80 percent of Cameroon lies within a massive mineral belt with one of the world’s largest occurrences of bauxite, iron ore, rutile, platinium, cobalt and diamond etc.
Opportunities: Agribusiness, Agriculture, Banking and Finance, Forestry Sector, Manufacturing, Mining, Petroleum & Gas, Tourism.
Imports amounting to $17 million, indicating potential to meet demand through local production
- Unmet local and regional demand for edible oil, animal feed and fuel; booming global demand and prices
- Oilseed production has beneficial impact upon other sectors within the economy and thus potential for knock-on effect is great
- Cameroon offers optimal growing conditions in abundance. Surface area, rainfall, climate and soil conditions are conducive to production of oilseeds
- 90% of all rice consumed locally is imported, indicating significant gap between local demand and supply
- Rice is second main staple food in the country
- World consumption expected to increase dramatically, and not likely to be offset by moderate expansion in production, indicating a gap between global demand and supply
- Favorable agricultural conditions for rice-growing
- 15% of local maize needs satisfied through imports, indicating shortfall between local demand and supply and opportunity to boost production and close the gap.
- Global demand for maize for use in biofuel, feedstock sectors expected to grow unmatched by increases in supply and, as such, shortfall in global supply anticipated
- Optimal production zones within Cameroon
- Potential for large job creation
Cameroon is a choice destination with a lot of attractions for any visitor and offers a wide variety of sectors in the touristic domain which could be of interest to potential investors.
The country has a lot of natural attractions and many other phenomena that are not found anywhere else in the world, making it possible to have various categories of tourism.
Situated at the heart of Africa, indeed straddling West Africa and Central Africa, and stretching from the elbow of the Gulf of Guinea on the coast of the Atlantic Ocean, going through evergreen forests which gradually fade into grass land savannah until it reaches the sandy regions of Lake Chad, Cameroon has features which are found in all parts of Africa.
The 400 km long coastline of the Atlantic Ocean is very suitable for tourism, with a lot of attractions like colourful bays, rich sandy beaches, a variety of small islets, mangrove vegetation and waterfalls that plunge directly into the ocean. Fishing goes on in all the settlements along the coastline, carried out by individual and commercial fishermen. Any visitor can take a try at fishing. A wide variety of fishes can is also to be found in the many rivers which can be found throughout the country.
There are seven national parks in Cameroon, with the most interesting and properly maintained one being the Waza Park in the Far North Region. These parks have a large number of the various animal species found in Africa ( elephants, lions, giraffes, rhinoceros, panthers, buffalos, antelopes, hippopotamus, hyenas, gorillas, cheetahs etc…). Besides the national parks wherein hunting is prohibited, there are 14 hunting zones in the northern part of the country with more than 500 km of motorable roads. Cameroon is the place of choice in West and Central Africa for safari tourism as the national parks and other animal reserves like Boubandjida in the Adamawa Region are properly preserved.
As a result of the concerns for the preservation of the environment, measures have been undertaken to classify and protect some natural sites for various purposes, including scientific, ecological and tourist activities. Some of the prominent ones are:
- The Korup National Park which has plant species that are more than one million years old.
- Dja Reserve, which is classified among humanities heritages by UNESCO.
- Mount Cameroon, which is 4,070 m highand has vegetation which dates back to the Quaternary period and has been accepted for international mounting-climbing events. It is an ecological site with remarkable potential that is being improved by the German NGO, “GTZ”. Mount Cameroon is still an active volcano with the most recent eruption occurring in March 2000. The rainfall in this area is also very high, especially at Debuncha on the West Coast.
- The Site of Mayo-Rey where footprints of dinosaurs are still visible.
The population of Cameroon is made up pf more than 200 ethnic groups with different customs and traditions, some of which have survived till date, especially in the north and west of the country. A lot of diversity can be observed in the way of life, the folklore, the religion, housing and culinary habits. The oval houses of the Massa people in the north are unique in design in the world. The historical artefacts that abound in Cameroon are a testimony of the creative nature of the people, while the monuments and other vestiges of past events attest to the colonial history of the country. English and French are a remarkable indication of the bilingual culture of Cameroon. Mountaineering is a good pass time, as Mount Cameroon, Mount Manengouba offer a lot of hospitality. The Climatic centre in Dschang provides a place for a quiet holiday.
The major cities of Yaounde and Douala, with infrastructure of international standing (conference centres, international airports, hotels etc), are the main centres of conference and business tourism.