Private Investments: Over 75 Agreements Signed Already
The most recent were sealed in Yaounde on April 7, 2016.
The application of the 2013 Law that incites private investments in the country has enabled government to sign over 75 investment agreements to the tune of over FCFA 884 billion, creating over 31,768 direct jobs. The information was disclosed by the Minister of Mines, Industry and Technological Development, MINMIDT, Ernest Gwaboubou in Yaounde April 7, 2016 during the signing of investment agreements with six companies. The General Manager of the Cameroon
Investment Promotion Agency, Marthe Angeline Minja, saluted the commitment of investors.
The Minoterie Modern Saker company is offering to invest FCFA 5.2 billion in the putting in place of a factory to process cereal into flour with as estimated 267 direct jobs to be created. The Savannah Oil Services Company on its part has told government that it will be injecting FCFA 13.4 billion in the water sector. The company promoters want to put in place a plant for industrial boreholes and plans to employ over 500 young Cameroonians. The Biomass Cameroon Company is proposing FCFA 2.9 billion business venture that will focus on producing fuels in the form of wood chips used in generators. Over 80 Cameroonians are expected to be gainfully employed when the project goes operational.
In a similar vein, the Société Compagnie Générale de Granules will be investing FCFA 1.1 billion to put in place an indutrial unit for recuperation of wood waste for processing into biofuel. Some 222 jobs have been earmarked by the project. The lion’s share investment venture sealed in Yaounde yesterday with Cameroonian private investors was taken by the Agro Ressources Cameroon. The company intends to invest FCFA 26.1 billion in the putting in place of two cassava and maize production and processing units with over 1.167 direct jobs to be created. The Director General disclosed that the plant will be constructed in Batouri in the East Region where cassava and maize production is expected to be scaled up. The project is expected to usher in some technology in agriculture in the production and processing of the raw material.
The administrative part of the project is finalised. “Our projection is to start in two months with the preparation of the land because we are going to plant our own corn and cassava. We intend to build the factory by the end of this year,” disclosed Samuel Diboma, stressing that they were 99 percent ready to take the project off the ground. The last company to exchange agreement files with the Minister was the Director General of the Complexe Metallurgique du Cameroun with an investment capital of FCFA 20 billion for the extension and the renewal of its production chain. Additional jobs evaluated at 1,020 are expected to be created when the project goes functional, it was disclosed.