(Business in Cameroon) - The Cameroonian government just approved its National Agricultural Investment Plan (PNIA), which aims to invest 3.35 trillion FCfa in the development of agriculture for a period of seven years (2014-2020). Out of this haul, over 1.5 trillion FCfa (42% of the full sum) are to be raised from lenders.

The PNIA is offering development modalities for agricultural sectors (plants, livestock, fisheries and forestry); the modernisation of production infrastructure and the development of financing access mechanisms; management and sustainable use of natural resources, the reinforcement of operator capacities and the promotion of collaboration among these various entities.   

This agricultural investment plan is a direct result of Cameroon signing the “Detailed programme for Agricultural Development in Africa (PDDAA)” pact implemented by the NEPAD. By joining this pact, Cameroon as committed to devote 10% of its national budget to the agricultural sector instead of the current 3%.  

Though impressive in terms of its agricultural potential, Cameroon, the country that has fertile lands covering 25% of its surface area, is struggling under the burden of production shortages in all major crops (rice cassava, plantains, corn, potato and sugar cane). A virtual employment gold mine, agriculture, which is still done using small scale practices, is the livelihood of 70% of the active population, according to official statistics.