Investing in Cameroon, land of attractiveness
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 has been 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 aims to reveal Cameroon’s huge potential and pinpoint the countless investment opportunities available in the country’s major projects.
– Invitations required to attend –
By Mr. Gilbert TSIMI-EVOUNA, Government Delegate to the Urban Community of Yaounde
By His Excellency Mr. Paul BIYA, President of the Republic of Cameroon, Head of State
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By Dr. Un-Chan CHUNG, Prime Minister, South Korea (2009-2010)
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By Mr. Tony ELUMELU, Group Chairman, UBA
Cameroon’s macroeconomic situation: growth perspectives
Cameron’s economy is thriving, with annual growth reaching 5.9% in 2015. It has been remarkably resilient to the impact of the region’s security and humanitarian crises, sluggish global growth and trade, and more recently the drop in raw materials prices, especially oil.
Economic growth continued at a strong pace throughout 2015, driven by the increase in oil production, expanded supply in energy and agricultural goods, the launch of two new cement plants, and a series of ongoing major strategic projects in key sectors, including energy (hydroelectric dams), building, construction and infrastructures (Kribi port, roads, dams, hotels), and more.
Launched in October 2015, the three-year emergency investment plan (2015-2017) aims to inject 925 billion CFA Francs into priority projects in seven key sectors: urban development, healthcare, agriculture & livestock, road infrastructure, energy, water and security.
According to forecasts, Cameroon’s growth rate is expected to remain strong in 2016 and once again exceed 5%. The country should see a further decline in its poverty rate, especially since inflation (domestic or imported) remains low at around 2.2%, giving people more spending power.
What conditions need to be met to ensure even stronger economic growth and create more jobs?
How can we ensure that growth translates into development?
Which sectors offer the strongest growth opportunities?
Moderator: Pr. Roger TSAFACK NANFOSSO, Rector, University of Dshang
Mr. Louis-Paul MOTAZE, Minister of the Economy, Planning, and Spatial Planning, Republic of Cameroon
Mr. Isaac TAMBA, Director of Economics, Ministry of the Economy, Planning, and Spatial Planning, Republic of Cameroon
Mr. Kadima KALONJI, Resident Representative in Cameroon, IMF
Mr. Racine KANE, Resident Representative in Cameroon, African Development Bank
Mr. Lucas ABAGA NCHAMA, Governor, Central Bank of West African States
Intersecting views on the role played by the private sector in Africa’s growth
While foreign direct investment (FDI) has largely declined worldwide in the last several years, inflows to Africa have remained stable, amounting to $54 billion in 2014.
The private sector is an engine of growth and development. As well as helping to create jobs, increase tax revenues, and provide essential funding for projects and business, it is a key source of innovation.
What is the real impact of private firms on the economic and social development of countries and their attractiveness? Who has written Africa’s success stories?
What are the impediments to more foreign investment? What are the roles and responsibilities of states, international financial institutions and businesses?
Moderator: Pr. Bruno BEKOLO EBE, Associate Professor of Economics, University of Douala
Mr. Daniel COHEN, Professor & founding member, Paris School of Economics
Mr. Pascal LAMY, Director-General, WTO (2005-2013); President emeritus, Jacques Delors Institute
Dr. Donald KABERUKA, 7thPresident, African Development Bank (2005-2015)
Dr. Acha LEKE, Senior Partner, McKinsey & Company
Mr. Ade AYEYEMI, Group Chief Executive Officer, Ecobank Transnational Incorporated
Cameroon : private sector, growth dynamic
Private investment in Cameroon is growing. In 2014 foreign direct investment (FDI) inflows amounted to $6.5 billion.
Foreign investment is providing a significant boost to the national economy, spurred by the government’s favorable financial, administrative and customs initiatives and the creation of various bodies to support the private sector (Investment Promotion Agency, SME Promotion Agency), as well as a one-stop shop to provide a fast-track business creation process. Certain sectors in particular have gained from foreign investment, such as the building and construction industry, which has doubled its cement production capacity in just a few years.
Which sectors are benefiting most from private investment? Who has written Cameroon’s success stories?
Infrastructure, energy availability, business climate: how can we remove the last remaining impediments?
What can be done to enable public and private organizations to work better together? What can be done to boost PPP projects?
Moderator: Pr. Touna MAMA, Special advisor to the Prime Minister
Mr. Jean-Paul MELAGA, General Manager, Whitestone Finance
Mr. Henry ASZKLAR, Chief Executive Officer, Globeleq
Pr. James MOUANGUE, Associate Professor of Law, University of Douala
Mr. Protais AYANGMA, Coordinator, private sector platform; President-founder, ECAM
Cameroon’s financial attractiveness
In addition to pursuing a moderately expansionary fiscal policy, the government has sought to mobilize tax revenue and improve the returns on public expenditure. Poorly targeted subsidies have been significantly reduced and projects have been defined more realistically.
In addition, the increase in private investment and the robust performance of the services sector have had a positive impact on Cameroon’s financial situation.
However, the country’s budget balance declined in 2015. Revenues were hit by the drop in oil prices and at the same time public expenditure had to be increased to fund the country’s large-scale infrastructure projects and meet rising security spending.
In November 2015 the government issued bonds on the international market for the first time, ranking Cameroon among the fifteen African nations to conduct this type of operation.
What is the state of Cameroon’s budget?
What is the short and medium-term outlook?
How does the international financial community perceive the African continent and what are its future intentions?
What strategic budgetary and monetary priorities should Cameroon set itself?
Moderator: Mr. Serge Yanic NANA, Chief Executive Officer, FINANCIA Capital
Mr. Alamine OUSMANE MEY, Minister of Finance, Republic of Cameroon
Mr. Baudouin PROT, Chief Executive Officer & Chairman, BNP Paribas (2003-2014) ; Senior Advisor, Boston Consulting Group
Mr. Paul FOKAM, Chairman & Chief Executive Officer, Afriland First Bank
Mr. Mohamed EL-KETTANI, Chairman & Chief Executive Officer, Attijariwafa bank
Digital economy and growth
The Cameroonian economy is a transition economy committed to driving innovation.
The country is home to an extensive pool of innovative small businesses.
Furthermore, Cameroon boasts a large number of business and innovation award winners. From eHealth to eCommerce and peer-to-peer marketplaces, entrepreneurs and start-ups are burgeoning and have already given a significant boost to whole industry sectors.
At the same time, digital giants are strengthening their footprint.
The mobile penetration rate in Cameroon grew from 10 to 70% between 2004 and 2014, and there are currently more than 16 million mobile subscribers out of a total population of 20 million. With an Internet penetration rate of approximately 25%, there is also significant potential for further development in this area.
The digital revolution has already proved to be a powerful engine of inclusive growth for Cameroon, enabling productivity gain for private industry, facilitating connectivity and opening up regions, giving people access to essential services (eHealth, eLearning), and modernizing the state (e-Administration).
Cameroon, an emerging nation? Cameroon, an innovation-driven nation?
What is the real impact of digital technology on growth and development in Cameroon?
What obstacles need to be removed to accelerate the country’s digital transformation? How can Cameroon rise to the infrastructure challenge? What are the roles and priorities of public and private organizations?
Moderator: Mrs. Ele ASU, News Anchor & Presenter, Canal+, D8
Mrs. Minette LIBOM LI LIKENG, Minister of Post and Telecommunications, Republic of Cameroon Mr. Bruno METTLING, Deputy Chief Executive Officer, Orange Group & Chairman, Orange Middle East and Africa
Mr. Arthur ZANG, Founder & Chief Executive Officer, Himore Medial
Mr. Jiguang LI, Vice President, Huawei Western and Central Africa
Mr. Constant NEMALE, Founder & President, Africa24
Mr. Nino NJOPKOU, Chief Executive Officer, Kerawa.com
Investors workshops* on different themes :
- Transportation & Urban Development
- Communication and Information Technologies
*Investors only can attend and registration is required
Closing session – On invitation only