4CAMEROON BUSINESS IN MAJOR PROJECTS
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BUSINESS IN
MAJOR PROJECTS
AGRICULTURE
ENERGY
CAMEROON
MINING
INDUSTRY
March 2014 • N° 14
SERVICES
FINANCE
Reviving Cameroon’s
coffee industry
AES-Actis deal: The “product months”
keeping all jobs and initiative will kick-off
guaranteeing quality with “Rice Month”
BUSINESS IN CAMEROON
Yasmine Bahri-Domon
Rice, coffee and festivities
F
or this month of March, christened “Rice previously thought unappealing. New blood in
Month” (page 22), we decided to do a an industry that once depended solely on small
special report on coffee (pages 14-19). scale farmers is accelerating the industry’s met-
Perhaps you do not see the connection, amorphosis. This has encouraged the recent
but there definitely is one: the government’s explosion of agricultural diversity: rice, cocoa,
commitment to diversifying and rebuilding ag- cassava, soya, palm oil and more. Plots of land
riculture. that previously lay uncultivated have now be-
Coffee, which has long had the “Made in Cam- come veritable goldmines for agriculture, as is
eroon” label associated with quality on the in- the case on the Bakassi Peninsula which has just
ternational market has been hardly dripping prepared approximately 1,236 acres for palm
from the coffeemaker over the last two decades. tree planting.
Faced with the current drought in this sector The economic, social and agricultural prosper-
which formerly made the fortunes of agricul- ity of a nation depends on its ability to martial
tural towns such as Bafoussam, Bafang, loum, its forces. The 50th Anniversary of Reunification
Nkongsamba and Kekem, the State decided to celebrated last month in Buea reminded us that
act to restore the industry with the support of the strength of Cameroon lies in its unity, peace
multilateral partners. Coffee has only recently and its capacity to transcend cultural and lin-
begun to make a comeback with an appealing guistic diversity and overcome political divides.
asset: the 2nd international festival, Festicoffee, The dynamic celebrations of the 50th Anniver-
to be held in May 2014 in four Cameroonian sary of Reunification are the manifestation of
towns. this positive energy for which Cameroon holds
Beyond coffee, which will soon make a full re- the secret – the ability to transform differences,
covery, the implementation of modern agricul- assets, wealth, and human resources into a pow-
tural practices, with the government’s support, erful force for development while remaining a
has led to a virtual revolution in a sector that was peaceful haven for foreign investment.
BUSINESS IN CAMEROON
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Publication Director • Yasmine BAHRI-DOMON
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March 2014 / N° 14 -3-
BUSINESS IN CAMEROON
CONTENTS
034Rice, coffee and festivities
064Casting 204Cameroon to create support fund for
innovative companies
084According to Paul Biya, “the
Cameroonian people proved all the 204The Head of the Cameroonian State
pessimistic predictions false” announces the creation of 250,000 jobs
in 2014
104The AES-Actis deal: Cameroon wants to
keep all jobs and guarantee service quality 214Cameroon pays special attention to
Swiss investors
124Cameroon-Central Africa: over 55 billion
commercial transactions on the line 214Cameroon sets the price for national
economy’s EPA adaptations at 2.5 trillion
144Cameroon: rescue effort for coffee
FCfa
154Cameroonian coffee having a cup
224Cameroon launches the promotion
164EU and CICC to restart coffee sector with of local rice to stimulate consumption
16 billion FCfa
224Semry to process 20 tonnes of rice paddies
174Creating and developing 8,896 acres of per hour with two new factories
coffee plants in 6 years
234Cotton: Cameroon’s exports to China
174The international coffee festival, decreased by 7.3% in 2013
Festicoffee, to be held on May 29-31, 2014
234Cameroonian cocoa exports to China
184Omer Gatien Malédy: All eyes are now went up by 113% in 2013
on Cameroonian coffee
2341,235 acres already prepped for PAMOL
204China, India and Korea invest 1.2 trillion palm tree plantations in the Bakassi
FCfa in Cameroon Peninsula
-4- March 2014 / N° 14
BUSINESS IN CAMEROON
244Cameroon seeks to create first
commodities exchange in
French-speaking Africa 304Socaver finally equipped to run on GDC’s
thermal gas
254Gabonese Ogar interested in 35% share
in Chanas Assurances’ capital 304Cameroon produced more than 24 million
barrels of oil in 2013
25484 “illegal” micro-financial establishments
to close 304The Chinese company, CWE, concludes
environmental impact study on
264Protais Ayangma: Too much “deviant Menchum Dam
behaviour” in Cameroon’s insurance
sector 314Energy: State to transfer three thermal
plants to AES Sonel to reduce electricity
274MTN Cameroon to invest 600 billion production deficit
FCfa if…
314The Natchigal hydro-electric plant to
284Cameroon to implement internet open in 2019
access points
324Cameroun to open its first diamond-
284TRA warns telephone operators against cutting factory
credit transfer limits between consumers
324Cameroon: Increased oil production in
294Round 2 of the fight for the container 2014 will not affect State revenue
terminal dealership at Kribi’s deep
water port 334Gicam seeks 24 acres in Côte d’Ivoire for
Cameroonian investors
294Chinese company CHEC claims
18.7 billion FCfa dredging deal for 334Moroccan company CIMAF ends
Douala Port Lafarge’s cement market monopoly
294Kribi deep water port to have “the best 344Elung Paul Ché is the new Board
channel on the West-African coast” Chairman at Cameroon SME Bank
March 2014 / N° 14 -5-
BUSINESS IN CAMEROON
CASTING
DR TAÏGA
According to the Cameroonian Min-
ister of Fisheries, Dr. Taïga, Cameroon
plans to produce around 100,000 tonnes
of fish per annum by developing aqua-
culture. This is the goal for the intensive
production centres the Cameroonian
government has just begun building in
several regions across the country.
The first of these plants has just been inaugurated in Méy-
omessala in the South, and will produce 17 tonnes of fish
thanks to the construction of modern ponds and the training
of young fish farmers by the Ministry of Fisheries.
Out of 176,000 tonnes of fish produced in Cameroon an-
nually, only 1,000 originate from aquaculture. This is only
0.1% of national production. Yet, according to official figures,
Cameroon spends close to 100 billion FCfa each year in im-
ports to address the production deficit which is estimated to
be 230,000 tonnes.
ESSIMI MENYÉ
It was on a tractor tour of a farm in
Lélem, not far from Mélong, on the
very fertile volcanic earth in the sea-
side area of Moungo that Cameroonian
Minister of Agriculture, Essimi Menyé,
just launched the 2014 agricultural year.
He stressed that this year would be de-
voted to increasing national production.
To do this, Minister Essimi Menyéake urged better structur-
ing of producers through the creation of cooperatives.
As if to demonstrate the benefits of being in a cooperative,
the Minister donated two tractors, two bikes and two SUVs
to a local cooperative as well as tonnes of agricultural mate-
rials. Beyond the official 2014 agricultural launch, the event
was also an opportunity for the government to announce the
creation of centres of excellence for coffee, cocoa and palm
oil in some farming areas.
-6- March 2014 / N° 14
BUSINESS IN CAMEROON
MODESTE MOPA MICHEL WORMSER
According to the Director General of Vice-President of the Multilateral In-
Income Taxes (DGI) within the Minis- vestment Guarantee Agency (MIGA),
try of Finance, Modeste Mopa Fatoing, a member organisation of the World
the fiscal pressure rate in Cameroon “is Bank, Michel Wormser recently pre-
weak” at its current 13%. Following the sented his institution’s various products
last conference of the heads of central to the Cameroonian government. “With
and external services of this ministerial Cameroonian government heads, particu-
department, the DGI recommended that the rate be raised larly the Minister of Economy, we discussed the ways in which
to 18% for the medium term. This is 5% higher than the Cameroon could benefit from our guarantee, especially in elec-
current level. trical energy. The goal was to talk with them about our various
The DGI’s position is contrary to that of the Cameroon products to see how they could contribute to supporting the coun-
business community which has constantly complained about try’s emergence project,” stated Wormser.
the pressure rate, or even fiscal harassment that they have MIGA celebrated its 25th anniversary in 2013. Since its cre-
suffered. They recommended a broadening of the country’s ation, it has issued close to 30 billion dollars in guarantees
fiscal net as revenue to this date has come from a very small (political risk insurance) to support over 700 investment
segment of businesses while the vast majority remain un- projects in 100 developing countries. Today, its portfolio is
derground. over 10 billion dollars.
BASILE ATANGANA THIERRY TÉNÉ
KOUNA Directed by Cameroonian native, Thi-
erry Téné, Institut RSE Afrique has
Cameroonian Minister of Energy and just released the results of a study on
Water, Basile Atangana Kouna, opened the perception and application of cor-
the Mefou water treatment plant on porate social responsibility (CSR) in
January 27, 2014. The new facility will Cameroonian businesses. This survey
supply Cameroon’s capital with an ad- was conducted in collaboration with the
ditional 50,000 m3 of drinking water. Cameroon Association of Human Resource Managers and
The total supply of water to Yaoundé Syndicat des industriels du Cameroun (Syndustricam).
will rise to 150,000 m3 per day against an official estimated According the results of the study involving a sample group
demand of 300,000 m3 of water per day. of 16 companies with cumulative sales amounting to 710
However, at first, only 25,000 m3 of water per day was pumped billion FCfa and a combined labour force of 20,000, “Hu-
into the network. The plant attain its true production capac- man Resource Managers (in the companies that participated
ity of 50,000 m3 per day in February 2014. Costing a total of in the study) are not adequately cognisant of the notion of
72 billion FCfa, the water treatment station was co-financed corporate social responsibility.” The study also reveals that,
by the French Development Agency (AFD), the European “73% of companies surveyed have no sustainable develop-
Investment Bank (EIB) and the Cameroonian government. ment or corporate social responsibility division” while 57%
of them are completely unaware of the ISO 26000 standard.
March 2014 / N° 14 -7-
BUSINESS IN CAMEROON FOCUS
According to Paul Biya, “the
Cameroonian people proved all
the pessimistic predictions false”
Excerpt of the Cameroonian to remember, we also have the
Head of State’s address on the obligation to the truth. The duty of
occasion of the 50th anniversary of memory would not have value or
the Reunification on February 20, exist without our obligation to the
2014 in Buéa, the centre of one of truth.
the two English-speaking regions Building the nation of Cameroon
of the country. meant enabling each of us to have
an education that ensured equal
(…) October 1, 1961 is a historic right to opportunity. At the time of
day. It is a day of great joy for all independence and reunification,
Cameroonians. After 42 years of that is to say, after 70 years of foreign
uncertainty and struggling, brothers, occupation, 3% of Cameroonians
long separated, who have never had been to school and there was not
stopped seeking each other were a single university.
reunited forever. Today, our education rate, according
October 1, 1961, the day Cameroon to Unicef, is 90%. We have built
was reborn, is a day of immense glory 15,123 primary schools and 2,413
for our country. secondary schools. And today,
we have built eight universities
My Countrymen, throughout the nation.
Ladies and Gentlemen, Building the nation of Cameroon
meant providing everyone with
What have we done over the last access to health services. At the time
fifty years? We have worked little by of independence and reunification,
little on restoring the desired unity there were 555 health training
of our Cameroonian nation. But we institutions. Today, we have 2,260
must not forget that the day after public training facilities for health,
our independence and reunification, including 4 general hospitals,
ominous birds were predicting our 3 central hospitals, 14 regional
failure. Some went as far as to say hospitals, 164 district hospitals, 155
that Cameroon would slip into chaos. medical clinics and 1,920 integrated
Certainly, in our first 50 years, our health centres. I should also add that
life was not an easy one. A painful life expectancy has risen from 40 in
civil war was followed by a severe 1960 to 52 years of age today.
economic crisis. Throughout these Building the nation of Cameroon
challenges, the Cameroonian people meant taking our country out
demonstrated exceptional courage of isolation and opening it up to
and proved all the pessimistic the outside world. At the time of
predictions false. The Cameroonian independence and reunification,
people have worked to rebuild our road infrastructure comprised
patiently, in unity and peace, this 621 km of paved roads. Today, the
nation of which we are so proud. Cameroonian people enjoy 250,000
We pushed ourselves to catch up and km of roads, including 5,200 km of
repair the injustices of colonialism. paved roads, 21 airports, of which
If it is evident that we have a duty four are international, a river port
-8- March 2014 / N° 14
FOCUS BUSINESS IN CAMEROON and three sea ports. The port of Douala is the largest in the CEMAC have made a modern democracy zone. with functioning institutions Building the nation of Cameroon and an Assembly, a Senate and a meant creating wealth and Constitutional Council that will employment. The State of Cameroon soon be in place. We implemented is our nation’s largest employer. It justice and administrative systems has encouraged the development of a across the nation and built up strong dynamic private sector. Talented men armed forces that can be deployed to a part of our identity. It is this that and women have created businesses, guarantee our territorial integrity. enables Cameroon to adapt easily to creating jobs and producing wealth. changes in globalisation, especially The standard of living for our fellow My Countrymen, because of our bilingualism. citizens has ostensibly improved. Ladies and Gentlemen, Building the nation of Cameroon [Original in English, ed.] Ladies and meant industrialising our country. Our national unity has been the basis Gentlemen, We have now commenced our of this exceptional success. It is the second phase of industrialisation. skeletal frame on which the organs of Three years ago, we launched the With the ongoing development our society function. It is a part of our jubilee period with celebrations of our energy capacity, we will be very existence as a people. I therefore marking the fiftieth anniversary able to process our agricultural and call on all citizens, particularly our of our Independence. With the mining commodities and, with young people, to guard her fiercely so celebration of the fiftieth anniversary our hydrocarbon deposits, we have that she shall not be altered. of Reunification here in Buea where the basis for a chemical industry. I ask them to avoid the trap set by it took place, we will be closing this Simultaneously, we will continue certain regional, tribal and religious cycle which has helped us to revisit to develop our aluminium industry forces that may compromise our our history. and continue our usage of gas as an national cohesion. We have every reason to be proud of energy source for our factories. our Reunification and the best way of We have proven that we are able to My Countrymen, being worthy of it is to spare no effort get out of the trade-based economy in Ladies and Gentlemen, to preserve our national unity. which we had long been captive. Building the nation of Cameroon When we speak of national unity, Long live Independence! also meant creating a sovereign we do not neglect our cultural and Long live Reunification! state. Out of a fledgling State, we linguistic pluralism. Our diversity is Long live Cameroon! March 2014 / N° 14 -9-
BUSINESS IN CAMEROON ENERGY
The AES-Actis deal: Cameroon
wants to keep all jobs and
guarantee service quality
The Cameroonian government
is taking multiple steps to ensure
that the transfer of shares in the
electricity deal will not have a ne-
gative impact.
After officially giving the go-ahead
for all of American company, AES
Corp’s assets to be sold to the in-
vestment fund, Actis in Cameroon’s
electricity sector in December 2013,
the Cameroonian government has
been engaging the acquirer of the
electricity company in talks. Au-
thorised sources state that this has
In the
been done to ensure the transition month
“goes smoothly”. of March
This is what led a delegation from 2013,
Agence
Actis to be received on January 24, France
2014 in Yaoundé by the Cameroo- Presse
nian Minister of Energy and Water, (AFP)
estimated
Basile Atangana Kouna. The gov- Actis’
ernment minister seized the oppor- electri-
city capa-
tunity to indicate to the new owner city to be
of AES Sonel, KPDC and DPDC the 9,000 MW
Cameroonian government’s expec- worldwide
for a total
tations after the departure of the of 2 million
American company, AES Corp. A direct
reliable source has alleged that this clients.
was done to ensure the protection delegation went to Uganda to see, at length as well as the Ugandan
of all jobs, improve service quali- first hand, the performance of the authorities, “in order to discuss the
ty, expand the network to increase British investment fund, Actis, in experience of having Actis in that
Cameroonians’ access to electricity the electricity sector as the latter country and the best practices to
and review the dealership contract. controls the Ugandan electricity adopt in the distribution of elec-
Only a few days after this interview company: UMEME. tricity,” stated an internal source to
between the Cameroonian gov- AES Sonel.
ernment and the heads of Actis, a LEARNING FROM THE Parallel to these talks between the
Cameroonian delegation compris- UGANDAN EXPERIENCE Cameroonian authorities and Actis
ing officials from the Ministries This is why the Cameroonian del- aiming to ensure a successful tran-
of Energy, Finance and Economy egation, during its visit to Kam- sition to the electricity sector, states
visited Kampala, the Ugandan cap- pala, visited UMEME plants and an AES Sonel source, “the various
ital. According to our sources, the interviewed the company’s heads stakeholders, who have been wait-
-10- March 2014 / N° 14ENERGY BUSINESS IN CAMEROON
A delega-
tion from roon once the government has au-
Actis was thorised it.
received The December 2013 notification
on January
24, 2014 in of the government’s agreement
Yaoundé by to allow AES to sell its assets in its
the Came-
roonian three Cameroonian subsidiaries
Minister has not affected the employees of
of Energy these companies in the slightest –
and Water,
Basile particularly those of AES Sonel, the
Atangana electricity sector’s leader in Came-
Kouna roon. According to sources contact-
ed, “everyone is quietly working on
his or her tasks”.
Union members claimed of the
electricity sector who protested the
day after the AES-Actis deal, have
also been quiet. Yet, in November
2013, these union members the
retro-active sale of their 5% share
in the company’s capital before
The delegation
went to Uganda to
see, first hand, the
performance of the
ing on the non-objection of the
lenders to “close the deal”, would
SIX MONTHS OF SUSPENSE
AND SPECULATION
British investment
have to intervene incessantly. The Cameroonian party, which had fund, Actis, in the
On November 7, 2013, AES Corp a contractual deadline of 90 days by
and Actis announced that they had which to state its decision on the electricity sector as
come to an agreement about the deal after being officially notified the latter controls the
sale of 100% of AES’s assets in its on July 26, 2013, had to wait almost
Cameroonian subsidiaries: AES- 6 months before giving its approv- Ugandan electricity
Sonel, Kribi Power Development al. At the time when some infor-
Corporation (KPDC) and Dibam- mation appeared to lead to a likely company: UMEME.
ba Power Development Corpora- disapproval of the AES-Actis deal to
tion (DPDC), for a total of 220 mil- the benefit of Electricité de France the conclusion of the deal. If this
lion dollars or approximately 110 (EDF), which had, while awaiting request is met, it will mean 51 and
billion FCfa. the Cameroonian government’s not 56% of AES Sonel’s capital will
But according to the sale contract blessing, its eye on AES’s assets in be sold to Actis as a part of closing
for the public electricity company, Cameroon. the expected deal.
signed in 2001 between the State of While speculation was floating In the month of March 2013,
Cameroon and AES, any sale of as- around the sale of AES assets, Ac- Agence France Presse (AFP) esti-
sets by AES was supposed to get the tis had announced on December mated Actis’ electricity capacity to
go-ahead from the Cameroonian 9, 2013, that it had closed its third be 9,000 MW worldwide for a total
government through the issuance fund intended for energy sector of 2 million direct clients. The ar-
of a non-objection. Basically, the investments, Actis Energy 3, after rival of the British investment fund
concession contract gives the Cam- raising the sum of 1.15 billion dol- in the Cameroonian electricity sec-
eroonian government the possibil- lars (around 575 billion FCfa), sur- tor will raise this capacity to 10,000
ity of opposing any deal between passing by 50% the target amount. MW since AES Corp currently has
AES and Actis and, in this case, to A part of the fund was supposed to 1,000 MW in Cameroon.
buy the assets and or sell them to be used to finance the acquisition of
another company of its choosing. AES Corporation’s assets in Came- Brice R. Mbodiam
March 2014 / N° 14 -11-BUSINESS IN CAMEROON CENTRAL AFRICAN CRISIS
Cameroon-Central Africa: over
55 billion commercial transactions
on the line
Since the security decline in Ban- This lack lai, are estimated to be around 4 bil- (according to Cameroonian Cus-
gui, commercial transactions of security lion FCfa each month. toms) annual flow of merchandise
also incited
between the Central African Re- the Central Despite the recent opening of a between the two countries.
public and Cameroon have slum- African secure pathway by the Cameroo- With the arrival of the Seleka re-
ped. Border towns and Cameroon subsidiary nian army from Garoua-Boulaï to bellion at the door of Bangui, the
of the Ca-
businesses have paid a high price. meroonian supply Central Africa again under Cameroon-CAR borders in the East
company a transition government after the region have been regularly closed.
Tradex to
450. That is the number of Doua- close tem- resignation of Michel Djotodia, This was the case, for example, on
la-Bangui transporters who have porarily. these losses are stacking up as the August 14, 2013, following a call
parked their vehicles for over two days go by. They accentuate the to strike made by Central African
months now due to the declining losses that Cameroonian and Cen- transporters who have been vic-
security in Cameroon’s neigh- tral African transporters are facing timised by the retaliation of the
bour, the Central African Repub- on the Douala-Bangui route. Seleka rebels in power in Bangui.
lic. El Hadj Oumarou, head of the Since the start of the Central Af- In solidarity with their colleagues,
Land Freight Management Bureau rican crisis in March 2013, trade Cameroonian transporters had
(BGFT), finds that the losses trans- has been at a standstill between the also parked their trucks, paralysing
porters have sustained in Douala two countries. This development business activity from Douala to
and Central Africa in Garoua-Bou- is endangering the 55 billion FCfa Bangui.
-12- March 2014 / N° 14CENTRAL AFRICAN CRISIS BUSINESS IN CAMEROON
After the acts of vandalism carried
out on its network of 20 service sta-
tions in Central Africa from the start
of the political crises which had led
to the rise of the Seleka in Bangui in
March 2013, Tradex had re-opened
its service stations in the Central Af-
rican Republic in August 2013. The
announcement of this resumption
of services in the CAR was made
during an inaugural ceremony for a
new service station in Yaoundé.
But the euphoria was short-lived…
Cameroonians escaped the Central
African hell using the airlift provid-
ed by the Cameroonian government.
Since December 2013, over 6,000
Cameroonians have been trans-
ported from Bangui by Cameroon
Airlines Corporation (Camair Co.),
the national airline of Cameroon, as
REPEATED BORDER cality. The crime was committed by While instructed by the Head of State.
these
CLOSURES Seleka rebels. Cameroo-
Transportation along this route only Despite the re-opening of the bor- nians who CONCERN ABOUT SOCIAL
resumed on September 3, 2013 after der, activities have plunged since were more PEACE
or less
an emergency meeting held the day that time. Things have worsened supporting While these Cameroonians who
before at the offices of the sub-pre- since the recent decline in security in the Central were more or less supporting the
fecture in Garoua-Boulaï a border CAR which led to Michel Djotodia’s African Central African Republic’s economy
Republic’s
town with Central Africa in the East. resignation. This lack of security also economy are now safe from the bullets of the
This meeting led to resolutions such incited the Central African subsidi- are now Seleka and the anti-Balakas, their
safe from
as escort and convoy travel to avoid ary of the Cameroonian company the bullets
return has increased the number of
acts of theft being perpetuated by Tradex to close temporarily. of the unemployed (around 5% as an ILO)
the Seleka rebels. Seleka and or underemployed Cameroonians
the anti-Ba-
But, just as clouds hovering over TRADEX HIT HARD lakas, their (70% according to the Employment
trade between the two countries be- After trade between Central Africa return has and Growth Strategy Document)
gan to clear with the establishment and Cameroon, the hardest to be increased as their professional insertion will
the number
of unem- not escape the harsh realities of the
ployed or Cameroonian job market.
Apart from the economic impact underem-
But, apart from the economic im-
ployed
of the Central African crisis on Cameroo- pact of the Central African crisis on
nians. Cameroon, there is the risk of social
Cameroon, there is the risk of implosion as Central African refu-
social implosion as Central African gees gathered in the East-Cameroon
region are weighing on the country.
refugees gathered in the East- Very demanding, these 3,000 refu-
gees from all walks of life now stuck
Cameroon region are weighing on at the Cameroonian border have al-
the country. ready been a challenge for the local
officials of the HCR. They are de-
manding more than hospitality from
of the “Garoua-Boulaï Agreements”, hit by the precarious situation in the Cameroonian authorities and do
Cameroon decided to close its bor- Bangui, Tradex, a subsidiary of the not hesitate to commit reprehensible
ders in Toktoyo. This occurred the National Hydrocarbon Company acts. This makes cohabitation with
day after the murder of Cameroo- (SNH), is certainly the Camerooni- the Cameroonian populations in the
nian police officer, Ndallé Ngando, an entity that has been most affected affected areas quite difficult.
head of the border station in that lo- by the Central African crisis. BRM
March 2014 / N° 14 -13-BUSINESS IN CAMEROON FOCUS ON COFFEE Cameroon: rescue effort for coffee In its coffee re-launch plan in the tors have been discouraging for the Cameroonian economy, represent- early 2000s, Cameroon’s Ministry farmers who have remained above ing 6% of the nation’s agricultural of Agriculture planned to raise the general Cameroonian tide of GDP. In addition, coffee cultivation production from 40,000 to 125,000 disinterest in coffee following the in Cameroon is the livelihood of tonnes by 2015. Now, in 2014, as liberalisation of profitable sectors 400,000 farmers with approximate- production slumped by 56%, fall- in the late 1990s. But despite the ly 346,000 acres of coffee plants, ac- ing to a mere 16,142 tonnes last coffee sector’s slow descent into cording to the National Cocoa and year, this beautiful dream of the darkness which has accelerated in Coffee Board (ONCC). government and coffee farmers the last four years, the government, Following the publication of the will definitely be difficult to make industry professional associations low numbers from the last coffee a reality. and financial partners have not lost season, renewed efforts are now The production decline, due in part faith. underway based on the need to save to climate that is becoming more The reason for this tenacity is sim- an industry that is now in intensive and more merciless with the coffee ple: although coffee production care. It is directly linked to the sur- plant, has also been affected by the has been on a downward trend for val of hundreds of thousands Cam- current international context sur- several years, the product remains eroonians and their families. rounding coffee pricing. Both fac- a major source of revenue for the BRM -14- March 2014 / N° 14
FOCUS ON COFFEE BUSINESS IN CAMEROON Cameroonian coffee having a cup Production fell by 56.78% in 2013. In terms of processing, the trend is downward for both Ara- bica and Robusta coffees. According to official statistics from the National Cocoa and Coffee Board, Cameroonian coffee pro- duction has fallen by 56.78% dur- ing the 2012-2013 season. Indeed, it was announced at the launch of the 2013-2014 season held on January 24, 2014 in Melong, in the coastal region, Cameroonian farm- ers harvested only 16,142 tonnes of coffee, compared to 38,127 tonnes the year before. This decline in coffee production last year followed the same trend as that of exports, processing and purchase pricing for producers. The ONCC explains that Robus- ta coffee exports, the variety that represents 95% of Cameroonian production, amounted to 34,072 tonnes for the 2011-2012, but only achieved 14,724 tonnes last year. Meanwhile, Arabica exports have increased by 5.5%, rising from 2,392 to 2,523 tonnes, up by 131 tonnes. In processing, the trend has been a downward one, both for Arabica and Robusta coffees. The ONCC announced that 186 tonnes of Robusta were processed locally in 2012-2013 compared to 200 tonnes the previous year which represents a decline of 14 tonnes. Arabica processing fell from 220 tonnes in 2011-2012 to 208 tonnes during the last season which is a reduction of 12 tonnes. At the same time, while the official price per kilo of Arabica was 2,043 FCfa (3.11 euros) in 2011-2012, it went down by 638 FCfa during the last season since the ONCC esti- mates that it was only 1,405 FCfa (around 2.14 euros) last year. The ONCC also revealed that “pricing was downward throughout the sea- son.” March 2014 / N° 14 -15-
BUSINESS IN CAMEROON FOCUS ON COFFEE
EU and CICC to restart coffee
sector with 16 billion FCfa
The coffee sector emergency res- Behind this
tart plan of 900 million FCfa was sudden ava-
lanche in
announced by the Inter-professio- the coffee
nal Council for Coffee and Cocoa sector,
(CICC) in collaboration with the experts
suspect
Cameroonian government and not only
the European Union through the climate
change and
11th DEF added 15 billion FCfa to less inte-
this six years plan. rest among
farmers but
also the
According the Cameroonian Min- marginali-
ister of Trade, Luc Magloire Mbar- sation of
ga Atangana, the Robusta Coffee coffee in
terms of
Agency of Africa and Madagascar support
(ACRAM) has just become eligi- and grants
as well as
ble for financing in the form “of aging plan-
non-reimbursable grants” pro- tations and
vided by the European Union as a farmers.
part of the 11th DEF. The financing
amounts to 19.6 billion FCfa (30
million euros).
A member of ACRAM and pre-
sented as the main force behind
negotiations with the EU to restart
The large coffee Robusta coffee production in Africa (140,000 tonnes). Cameroon is now
and Madagascar, Cameroon, on its the world’s 22nd producer, affirms
producer cooperatives own, will receive 80% of the sum, the CICC.
spread out in the main a portion amounting to 15 billion
FCfa, stated the Inter-professional BUDGET BITERS
farming areas are Cocoa and Coffee Council (CICC). COOPERATIVES
also blamed by some For six years, starting in 2014,
the Inter-professional Cocoa and
Behind this sudden avalanche in
the coffee sector, experts suspect
experts for taking Coffee Council (CICC) will en- not only climate change, but also
courage coffee production by less interest among farmers. Coffee
most of the financing supporting producers in a variety sector sources also blame the mar-
contributions that of ways. This will cost a total of ginalisation of coffee in terms of
150 million FCfa per annum or support and grants as well as aging
are not reinvested 900 million FCfa by the project’s plantations and farmers.
completion. The announcement The large coffee producer coopera-
in production, but was made at the launch of the new tives spread out in the main farm-
spent on the daily coffee season. ing areas (coastal, western, south-
The operation aims to get the sec- ern and eastern regions) are also
operational costs tor out of its misery after its pro- blamed by some experts for taking
duction plummeted by more than most of the financing contributions
of these structures 56% in one year. In fact, between that are not reinvested in produc-
that are described as the 2011-2012 and 2012-2013 sea- tion, but spent on the daily opera-
sons, national coffee production tional costs of these structures that
budget biters. fell from 38,000 to 16,000, reach- are described as budget biters.
ing a third of what it was in 1986 Brice R. Mbodiam
-16- March 2014 / N° 14FOCUS ON COFFEE BUSINESS IN CAMEROON
Creating and developing 8,896
acres of coffee plants in 6 years
production quality. This is why “a will focus on three production are-
sectoral self-assessment guide” has as: Haut-Nyong in the east, Moun-
been developed and will be imple- go in the coastal area and Noun in
mented at the end of the first quar- the west. Over the next three years,
ter of 2014. 4,448 acres of coffee will be planted
The first phase of the emergency in these areas with 1,482 per pro-
programme will last three years and duction area.
The international coffee
festival, Festicoffee,
to be held on May
On January 29, 2014 in Nguélé-
29-31, 2014
mendouka, the International Or- According to the Inter-professional of the Agency for Robusta coffee
ganisation for Cocoa and Coffee Coffee and Cocoa Council (CICC), from Africa and Madagascar (AC-
(CICC) launched the first phase the second international festival for RAM).
of the Emergency Programme for Cameroonian coffee, Festicoffee,
the Targeted Re-launch of Coffee will be held on May 29-31 of this Considered as a platform for the
Cultivation (Purc-café), with the year in four cities across the country trade and promotion of Cameroo-
training of 120 coffee farmers to – Yaoundé, the capital, Akonolinga, nian coffee, Festicoffee aims “to
set-up a nursery. Through annu- Belo and Santchou, three main pro- promote the local consumption of
al investment representing 10% of duction areas in Cameroon. African coffee in its many varieties
the CICC’s budget, Purc-café will and forms; highlight the know-how
be able to create and develop the These three production zones will of local producers who have garnered
coffee production basins in Came- host discussions among coffee sec- national and international prizes;
roon – around 8,896 acres of coffee tor operators while the Camerooni- raise awareness about the cultiva-
plants in 6 years. an capital will be the backdrop for tion, processing and consumption of
Purc-café involves a significant re- an exhibitory fair, talks with Ro- coffee and its by-products; and pro-
duction of the financing that coffee busta coffee researchers, a produc- mote activities taking place in the
producers, through the provision of tion forum and a gala soirée for the Cameroonian coffee sector.”
free “inputs necessary to create plan- presentation of awards to industry
tations; from setting up the nursery operators. This year’s Cameroonian coffee
to post-harvest processing.” In short, festival is being held in a climate
stresses CICC executive secretary, The Festicoffee launch will be on of drastic declines in production,
Omer Gatien Malédy, “we’re going May 29 – a national day of Came- some figures being as high as 56%.
to give producers everything they roon coffee-tasting to be coordinat- According to the CICC, this bleak
need, except the labour.” ed simultaneously in 17 towns and performance brought the country
This programme that aims to in- cities. Along with these activities, down 22nd on the global rankings of
crease production also focuses on there will be the General Assembly coffee producing countries.
March 2014 / N° 14 -17-BUSINESS IN CAMEROON FOCUS ON COFFEE
Omer Gatien Malédy:
All eyes are now on
Cameroonian coffee
The CICC Executive Secretary come, I can assure you that coffee
goes in depth about the sector and comes out way ahead of cocoa. Even
explains the measures taken to get though we don’t talk about it much,
out of the rut. a lot of financing has and will be
Business in Cameroon: Over the
last season, coffee production in
“Even though
Cameroon declined by over 56%. we don’t
What’s going on?
Omer Gatien Malédy: The current talk about it
situation is the result of several fac-
tors. Mainly, these are: the recurring
much, a lot of
weather fluctuations, aging farmers Omer ically aware, choose to invest ac- financing has
and plantations, a lack of financing, Gatien cordingly. One mustn’t forget that
the high cost of the phytosanitary
Malédy:
“Came- all eyes are now on Cameroonian and will be
products, the isolation of various
production zones and some farm-
roonians
currently
coffee, including sector entities, the
government and development part-
mobilised in
have a slight
ers losing interest. However, one preference ners. the short term,
must recognise that the decline in for cocoa This is due, not only because coffee
our production is a structural one cultivation
is a beverage consumed worldwide both by the
over that
and part of a general trend. Starting of coffee.
The reason
and therefore an undeniable source CICC and its
a few years before liberalisation, it of revenue for our country, but also
continued unwaveringly up to the
for this
is simple: and especially because the industry development
crisis we are now experiencing. For- cocoa seems itself has not been doing well. When
tunately, measures have been taken slightly more you have a sick child, he gets more
partners,
profitable”
and will soon bear fruit. of your attention than his healthy starting with
brother.
BC: What do you say to those who the European
think that the Cameroonian coffee BC: The CICC’s financial partners
industry has been marginalised in visibly prefer projects that have to
Union.”
comparison to cocoa in terms of do with the development of cocoa
support on the part of the govern- and not coffee. What can explain mobilised in the short term, both
ment and industry organisations? this? by the CICC and its development
OGM: Considering that we are OGM: If I may say so, I don’t share partners, starting with the Europe-
evolving in a completely liberal- this opinion. I would like to reiter- an Union.
ised environment, we should say, ate that the growth that cocoa has
to structure our context better, experienced is the result of individ- BC: Coffee processors aren’t rush-
that Cameroonians currently have uals and private operators investing ing to Cameroon while we’re seeing
a slight preference for cocoa culti- voluntarily in this sector. As far as a virtual renewal of interest in co-
vation over that of coffee. The rea- the interest financial partners have coa...
son for this is simple: cocoa seems in these sectors, when one audits OGM: I suppose that you are re-
slightly more profitable at present the present and future interven- ferring to the multinational cor-
and producers, who are econom- tions for the months and years to porations. On this point, I’d like to
-18- March 2014 / N° 14FOCUS ON COFFEE BUSINESS IN CAMEROON
invite you to look carefully at the
announcements that will be made
in the next Festicoffee scheduled for
May 29-31, 2014. Even if we were to
assume that the multinationals are
not coming to process locally, I’d
like to point out to you that coffee
roasting is a sector in which local
companies excel.
With the exception of soluble cof-
fee, the national demand is over
90% covered by local coffee roast-
ers. Is it really necessary to look
elsewhere? If you take a quick stroll
in any supermarket, you’ll see over
twenty local brands. Just off the top
of my head, I can think of Cristal
Coffee, Café Aroma, Café le Lion,
Café Vital, Le Bon café, Kaffeza,
Kola Coffee, Café Ghotam, Regard
d’Afrique & Terre Noire and, of
course, UCCAO coffee which are
the most popular, both locally and
abroad.
Furthermore, local processors have
nothing to be ashamed of when
compared to established interna-
tional brands. Did you know that
some of these brands are processed
locally in the form of Expresso ma-
chine capsules? Or that Cameroo-
nian coffee wins numerous interna- “Coffee very fertile and well drained. Ara- ue, despite difficulties, to produce
tional competitions? roasting is bica coffee’s potential production coffee.
a sector in
which local is Cameroon is higher than 30,000
BC: CICC has announced a 900 companies tonnes. We could therefore be pro- BC: As an expert, where do you the
million FCfa re-launch project to excel. ducing more. future of Cameroonian coffee?
With the
cover 6 years. This would seem like exception OGM: All the data and analysis
an insufficient and unambitious ef- of soluble BC: Large coffee producer cooper- confirm that the future of the glob-
coffee, the
fort for a sector with so many seri- national atives have been accused by some al coffee industry is rather prom-
ous problems. demand is experts of getting large financing ising. Many actions are ongoing
OGM: The CICC’s intervention over 90% deals that have been gobbled up to revive this sector. These include
covered by
must be considered to be a starting local coffee by operational expenditure while the development and adoption of
point for a major programme for roasters.” little has gone to investment. Do a strategy document, the creation
which financing is in the process of you share this opinion and do you of centres of excellence to promote
being determined. think these entities are really play- special coffees and the setting up
ing their part? of a partnership with Brazil, ener-
BC: Robusta coffee makes up 95% OGM: It’s very easy to judge others gising the network of African and
of Cameroonian production. Is harshly from the outside. We have Madagascan Robusta coffee pro-
Arabica suitable for Cameroonian to acknowledge that a large portion ducers, the launch of the Purc-café
soil? of our coffee comes from these co- programme, the upcoming inter-
OGM: The particularity of Arabica operatives that are often unfairly vention of the EU and the project
coffee is that it can only be cultivat- chastised. I would like us to also to bring new blood into the sector.
ed at higher elevations. This is why, note that Cameroonian coffee is in These are many reasons to be opti-
in Cameroon, it is usually found crisis and that, in the framework of mistic about Cameroonian coffee.
on the major plateaus of the west. efforts focused on sustainability, all
Arabica especially loves the volcan- our efforts should converge to sup- Interviewed by
ic earth which is rich in minerals, port the organisations that contin- Brice R. Mbodiam
March 2014 / N° 14 -19-BUSINESS IN CAMEROON
PUBLIC MANAGEMENT
China, India and Korea invest 1.2 trillion FCfa
in Cameroon
According to the Cooperation Direc- China, on its own, is financing 12 of tractor assemblage factory there.
torate of the Ministry of Economy, the 15 projects, including the con- Korea is involved in education and
which just completed its annual re- struction of the Memvé’élé and Mékin health particularly though a project
view of emerging country investment Dams, the national fibre-optic net- to build four training centres of ex-
in Cameroon, China, India and South work, the Kribi deep water port, the cellence, an initiative led by the Min-
Korea currently have a collective in- Yaoundé-Douala highway and more. istry of Employment and Professional
vestment of 1.2 trillion FCfa in the India has been investing in agricul- Training. Korea is also investing in the
country by way of 15 of the largest ture through a rice and corn cultiva- construction of an emergency health
projects currently underway in Cam- tion development project in Ebolowa facility in Yaoundé.
eroon. which followed the opening of the
Cameroon to create The Head of the
support fund for Cameroonian State
innovative companies announces the creation
of 250,000 jobs in 2014
In his address to Cameroo- about 24,000 additional
The Cameroonian Minis- istry of Mining, Industry and nian youth on February 10, jobs will be created this year,
ter of Mining, Industry and Technological Development 2014, preceding the 48th based on the Cameroonian
Technological Development, in Yaoundé. Youth Day on February 11, government’s statistics. He
Emmanuel Bondé (photo), The call for expressions of the Cameroonian Head of went on to specify that “for
just made a call for expres- interest consists of “assessing State, Paul Biya, announced 2013, job creation forecasts
sions of interest for the re- the investment and financ- the creation of “250,000 were approximately 200,000.
cruitment of a firm or a con- ing system currently in place new jobs” in 2014. Accord- Real job creation was above
sultant to conduct “a study in Cameroon, researching ing to President Biya, “this 12%, reaching 225,000. The
pertaining to the creation of how similar funds function outlook is derived from re- private companies of various
an Innovative Companies’ around the world, identifying liable analysis of our econo- sectors, on their own, have
Fund in Cameroon.” financing sources, proposing my. This should progress in created 165,000 jobs. For
Interested parties had until a legal status for the fund as the next months in at a rate its part, the administration,
March 14, 2014 to submit well as its financing mecha- of around 5%.” through various property di-
their applications to the Min- nisms…”. In comparison to 2013, visions, created 60,000.”
-20- March 2014 / N° 14BUSINESS IN CAMEROON Cameroon pays special attention to Swiss investors Cameroon has set-up a monitoring which President Jean-Claude Gandur Resources to develop the Cameroonian committee for the business contacts publicly announced his desire to bring mining sector. made during the 9th EMA Invest fo- investment to Cameroon the way he There are also two hi-tech projects rum held in October 2013 in Geneva. has done in Sierra Leone, a place that that are currently being implemented Chaired by Léonard Henri Bindzi, Cam- has been distinguished by the UN. The in Cameroon: a project conducted by eroon’s ambassador to Switzerland, the biofuel company aims to attain 10,000 the prestigious American university, committee will assist investors in mov- tonnes of ethanol and has been imple- UCLA, which involves the construction ing the applications along, obtaining mented based on the demanding crite- of a campus and research institution useful information and organising their ria of sustainability and social respon- named “Center for Integrative Devel- movements in Cameroon. sibility. It represents 267 million euros opment”, which will work in permanent During the 9th EMA Invest, held in part- and covers 35,336 acres. contact with California on new tech- nership with the Financial Times began Arborescence Capital is also involved in nologies. The Institut Polytechnique with a very convincing presentation by the development of a 50 MW solar pro- de Lausanne (EPFL) plans to create, in Julius Bär, a leading private banking ject and 50 MW in wind power. Oth- Yaoundé, a start-up specialised in en- company in Switzerland, while discuss- er contacts were taken to connect the ergy that has been working in health. ing Africa’s economic outlook. Cameroonian micro-financial sector Contact the monitoring committee at Among the plans tabled, that of Addax to specialised Swiss investment fund, comitedesuivi@emainvest.com & Oryx Group has been retained, about such as Symbiotics or Swiss Mining Cameroon sets the price for national economy’s EPA adaptations at 2.5 trillion FCfa According to a study by the Ministry signed with the EU in 2009, will need fi- of companies by increasing their produc- of Economy, the adaptation and mod- nancing amounting to 2.5 trillion FCfa. tion and export capacities. Cameroonian ernisation plan for the Cameroonian Up to 80% of this sum will be raised by product standards will also be improved economy, facing globalisation and also the Cameroonian Treasury Department in order to meet international require- the imminent application of econom- while the remaining 20% from develop- ments. In addition, fiscal and customs re- ic partnership agreements that were ment partners will enable the updating forms will be made to adapt to the EPAs. March 2014 / N° 14 -21-
BUSINESS IN CAMEROON
AGRICULTURE
Cameroon launches the promotion of local rice
to stimulate consumption
Cameroon.
Although approximately 100,000 tonnes
of rice are produced per annum in
Cameroon, locally produced rice is sel-
dom visible in markets and supermar-
kets. The Ministry of Trade explains that
this situation arose due to the distance
of production zones from urban areas
which makes local rice less competitive
compared to imported rice.
But above all, the main cause for the ab-
sence of local rice in Cameroon markets
is the nationwide lack of shelling plants.
This is why Semry, which accounts for
70%-80% of local production, is forced
to export virtually all its produce as rice
paddies to Nigeria.
The Managing Director of Semry, Marc
As of 2014, Cameroonian Ministry of promotional sales campaign for rice Samatana, confessed that the ten tonnes
Trade will institute a concept called cultivated in Maga by the Yagoua As- of rice produced in Maga and recently
“product months”, which consists of sociation for the Expansion and Mod- sold in the Cameroonian capital come
promoting a local production sector ernisation of Rice Cultivation (Semry), from “small shellers that process 800 kg
each month of the year. The new initi- held in Maroua (Extreme-North re- of rice per hour.” National rice demand
ative will kick-off with “Rice Month” in gion) and Yaoundé (Centre region). In is officially estimated to be 300,000
March 2014. March 2014, in addition to Semry rice, tonnes for a local supply of barely
In preparation for “Rice Month”, the consumers will be able to purchase rice 100,000 tonnes.
Ministry of Trade just organised a from Ndop in the North-West region of
Semry to process 20 tonnes of rice paddies per
hour with two new factories
Managing Director of Yagoua al plant’s processing capacities.
Association for the Expansion The factory already produces
and Modernisation of Rice between 70,000 and 80,000
Cultivation (Semry), Marc Sa- which is 70%-80% of Came-
matana, has announced that roon’s total rice production.
the company will soon acquire Due to the lack of processing
two rice paddy manufacturing plants, almost 90% of Semry’s
plants with a 10-tonne capaci- production is exported as rice
ty per hour for each. paddies to neighbouring Nige-
The Semry Managing Director ria which makes rice a scarce
explains that the acquisition commodity in Cameroonian
will increase the agro-industri- markets and supermarkets.
-22- March 2014 / N° 14BUSINESS IN CAMEROON
Cotton: Cameroon’s exports to China decreased
by 7.3% in 2013
In 2013, Commodafrica’s statistics re- ton season. roon are still poised to soar among Chi-
vealed that Cameroon exported 66,000 But despite this dip in cotton exports na’s cotton suppliers as other countries
tonnes of coffee, which is 7.3% down- to China, Cameroon is still the Asian such as Mali (-50%), Benin (-25%),
turn relative to 2012. Exports however country’s number two cotton supplier Zambia (-37%) and Egypt (-26%) saw
represent 32% of Cameroon’s GDP as after Burkina-Faso which also experi- their cotton exports plummet in 2013.
Société de développement du Coton enced a 2.4% decline in exports to Chi- One should note that China represents
(Sodecoton) announced 210,000 tonnes na in 2013, amounting to 95,000 tonnes. 60% of the global cotton market.
as its overall production for the last cot- Nevertheless, Burkina-Faso and Came-
Cameroonian cocoa 1,235 acres already
exports to China went prepped for PAMOL
up by 113% in 2013 palm tree plantations
in the Bakassi
Peninsula
According to Commodafrica, Cameroon exported 2,605
tonnes of cocoa to China in 2013. This marks a 113% increase In a press release, the PAMOL Company, a palm oil enter-
relative to cocoa exports to the same country in 2012. Came- prise, announced that it has already prepped 1,235 acres for
roon therefore provided 5.3% of China’s cocoa imports which the expansion of its plantations in the Bakassi Peninsula in the
is estimated to be 48,943 tonnes which is 45% more than the South-East region of Cameroon.
previous cocoa season. This expansion programme, whose implementation in the
These imports are mainly from Ghana (22,000 tonnes, +89% Bakassi Peninsula has been contested by Nigeria for years, is
compared to 2012), Indonesia (8,953 tonnes, +32%), Côte an essential component of the “contract plan” signed between
d’Ivoire (7,331 tonnes, +89%) and Cameroon. Cameroon and PAMOL to improve the agro-industrial com-
Based on these statistics, China is a small customer for Cam- pany.
eroon, far behind the Netherlands – the destination for more This “contract plan”, which is worth a total of 14.3 billion FCfa,
than 70% of Cameroonian cocoa production. In the 2012- stated a source at PAMOL, will include the construction of a
2013 cocoa season, 230,000 tonnes of cocoa were produced in soap factory, the purchase of fertiliser, the restoration of cur-
Cameroon. rent plantations and the creation of new ones.
March 2014 / N° 14 -23-BUSINESS IN CAMEROON
FINANCE
Cameroon seeks to create first commodities
exchange in French-speaking Africa
Cameroonian Minister of Trade, Luc
Magloire Mbarga Atangana and the
Executive Director of the Interna-
tional Cocoa Organisation (ICCO),
Jean Marc Anga, signed an agreement
on February 17, 2014 to finance the
feasibility study on the creation of an
agricultural commodities exchange in
Cameroon.
According to the agreement between
the ICCO and the Cameroonian gov-
ernment, the project which is “a major
first in French-speaking Africa,” in the
words of Minister Mbarga Atangana,
will cost 50 million FCfa for 6 months.
The study is to be conducted by the Ele-
ni LLC which already put in place Addis
Abeba’s commodities exchange in Ethi-
opia, has been referred to as “a leader in
this field” by the Cameroonian Minis-
ter of Trade who added that the entity
“has had transactions involving 608,000
tonnes in 2011-2012 and deals that went
from 12 billion in 2008 to 750 billion
FCfa in 2011.”
The Cameroon Commodities Exchange,
of which the feasibility study has just
started, will enable “the modernisation
of the sale of agricultural commodities’
through market and pricing transparen-
cy as well as the lowering of costs” which
will all contribute to improving the pro-
ducers’ revenue. The study is to be conducted by the Eleni LLC which already put in place Addis Abeba’s com-
modities exchange in Ethiopia, has been referred to as “a leader in this field” by the Cameroo-
nian Minister of Trade Luc Magloire Mbarga Atangana.
INFRASTRUCTURAL
CONSTRAINTS TO BE REMOVED be an excellent way to overcome these The head of operations at Eleni LLC
According to Jean Marc Anga, the sales’ constraints. indicated on February 14, 2014 in
systems in place for commodities in the This is why the ICCO’s executive direc- Yaoundé that the creation of a com-
four top cocoa producing countries in tor wants the Cameroon Commodities modities exchange depended heavily on
Africa (Côte d’Ivoire, Ghana, Nigeria, Exchange, this accomplishment of the the improvement of roads in produc-
Cameroon), for example, are “ineffi- strategic vision of the government of tion areas, electronic communication
cient and frequently involve individual Cameroon” to be operational “in a year”. systems, payment systems and energy
sales which leave producers to the mercy But to do this, numerous institutional supply, not to mention increasing pro-
of unscrupulous, lawless buyers.” The and infrastructural constraints will have duction and improving product quality.
creation of a commodities exchange will to be removed. Brice R. Mbodiam
-24- March 2014 / N° 14You can also read
