Cameroon now has a cocoa processing plant. The factory dubbed Neo Industry was inaugurated in Kekem on 26 April 2019. The foundation stone of 54 billion CFA F project was laid in June 2016. NEO Industry will process 32,000 tonnes of cocoa beans a year into 26,000 tonnes of finished products including cocoa mass, cocoa butter, cocoa cake and cocoa powder. The company will thus generate added value that will help increase Cameroon’s Gross Domestic Product and improve her balance of payments.
In...
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The Executive Secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, during a working visit in Cameroon told members of government and diplomats that the economies of African countries are doing well and may possibly attain emergence faster than foreseen. The first observation is that there is low diversification of economies.
The main African exports are from the extractive sector and include oil and gas, ores, as well as precious and ferrous metals. Consequently,...
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The Industrialization Master Plan (IMP) will build on a 600,000-tonne increase in SODECOTON production change may soon come in the cotton sector, of which 95% of current production is sold on international markets, with only 5% locally processed by the Cameroon Cotton Industry (CICAM). On a working visit to Garoua to launch joint national inspections of industrial sector enterprises, the Minister of Mines, Industry and Technological Development (MINMIDT) presented Government's project for...
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The Cameroon Government plans to increase domestic revenue and gradually conquer foreign markets. It also plans to boost job creation and economic growth. As a strategic partner, the European Union (EU) has committed to partnering with Cameroon and other countries in this endeavour. In 2017, it set up the European Union's External Investment Plan (EIP) for the Central Africa sub-region.
The new instrument was launched on February 22 at the PROMOTE Trade Fair in Yaounde. During...
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