Investing In Cameroon : Strides Made, Perspectives Ahead

Positive results linked to attracting investors in Cameroon have been presented by the Investment Promotion Agency, best known by its French acronym API. This was during a conference the institution granted at the 13th edition of the Government Action Fair (SAGO) yesterday July 23, 2024, under the theme, “Investing in Cameroon: API at the heart of improving the lives of citizens.”   
Statistics indicate that since 2014, after the implementation of Cameroon’s 2013 law on investments, API has signed 367 conventions with private economic operators which has generated FCFA 6,100 billion and created 120,000 jobs. In addition, a survey was carried out on some 124 enterprises investing in Cameroon between 2014 and 2022 and the results indicate that FCFA 1,800 billion was generated, and 14,000 direct jobs created. Information from the conference adds that API is involved in improving the quality of infrastructure in the country as is with the case in the Nachtigal Hydroelectric Dam which will produce 420 megawatts of electricity that will cover 30 per cent of the energy demands of citizens. In the near future, API projects the creation of 125 enterprises that will generate about FCFA 20,000 billion.
The Acting Director General of API, Buma Donatus, noted that the major aspects of the institution are to sell the image of Cameroon as an investment destination, attract foreign direct investment into the country, disseminate information on investment prospects and grant incentives to investors who invest in Cameroon. “So the API in a nutshell since 2014 has granted incentives to close to 380 companies within the law of 2013. In addition to that, the projected amount on invest...