CAMEROON - UNITED KINGDOM COOPERATION : Investors prospect in Cameroon
A Cameroon-United Kingdom trade and economic mission met in Yaounde from 30 to 31 January 2023 within the framework of strengthening economic cooperation between both countries.
This mission was in effect a follow-up to the first UK / Francophone West and Central Africa Trade and Investment Forum held in October 2022 in London. It featured several meetings held with government officials among whom Paul Tazong, Minister Delegate at the Ministry of the Economy, Planning and Regional Development. The British High Commissioner to Cameroon, Christian Dennys-McClure, pointed out that this mission has helped strengthen economic ties between Cameroon and the United Kingdom, and its ultimate outcome could be the signing of memoranda of understanding (MoUs) on some priority sectors of the 2020-2030 National Development Strategy (NDS) and for other specific projects.
This initiative by the British agency, Developing Market Associates, to follow up on these meetings was welcomed by Paul Tazong who finds in it an opportunity to assess Cameroon's potential as an investment destination and the possibilities of economic and business partnerships with the local private sector.
Some members of government in attendance presented projects that require financing to their very receptive counterparts.
Christian Dennys-McClure added that the trade mission to Cameroon was an important step in the joint effort to strengthen win-win trade and investment partnerships.
The Minister Delegate at MINEPAT relayed instructions given by the President of the Republic of Cameroon to his collaborators, asking them "to ensure that the private sector plays a prominent role in Cameroon's economic growth". This is because, "a booming private sector promotes industrialisation, and industrialisation requires energy. Cameroon's top priorities are therefore energy, multimodal transport, agriculture and mining".
Source: Summary - Cameroon Tribune No.12781/8980 of 1 February 2023.