Doing Business With Cameroon : Government Woos Investors In London

He made the statement recently during multilateral meetings with rating agencies, investors and financial institutions. The meetings which the Minister held were aimed at clarifying lingering doubts on Cameroon’s credit worthiness and the sustainability of its debt servicing.
During these meetings, Minister Motaze sought to convince them that Cameroon is committed to honouring all its engagements with international financial institutions and has been doing its best to service all the debts it owes international lending agencies. He made it clear to them that there will not default in servicing its debts. He stressed that Cameroon is servicing its debts at acceptable rate of about 43% of its GDP which is well below the 70% benchmark fixed by CEMAC regulations. 
Minister Motaze told them that Cameroon’s economic growth had been slowed down of late owing to external and internal shocks provoked by armed conflicts in Ukraine and the Middle East as well as an influx of refugees from the Central African Republic. The Finance Minister also cited the fight against the Boko Haram insurgency and the crisis in the North West and South West regions as factors and drawbacks that have impacted negatively on the economy of Cameroon whose annual growth rate now stands at 3.9% down from 5% in the past years. He then assured them that every effort is being made to project it to 8% in the near future.
The aforementioned shocks which are not exclusive to Cameroon, he said, are being mitigated through a new government policy of import substitution and the upgrading of agricultural production as recommended by the President of the Republic Paul Biya. The investors were also assured of Cameroon’s commitment to the tenets of good governance through a ceaseless fight against corrupt practices in all sectors of the soc...