(Business in Cameroon) - The Cameroonian government officially launched, on 24 April 2017 in Yaoundé, the capital of the country, the Project for the Development of Agricultural Value Chains (Projet de Développement des Chaines de Valeurs Agricoles - PD-CVA). With 77% financed by the African Development Bank and 21.5% by the State of Cameroon, this project has an overall cost of FCfa 75 billion, we learned officially.
Implemented in the Central, Littoral, South-West and Eastern regions, this five-year project aims to ensure food security in the sectors of plantain, oil palm and pineapples; by means of financial and technical support to farmers' organisations and other youth interested in agribusiness.
According to the sponsors, this project will directly affect 242,000 people, whose revenues will increase on average by FCfa 818,000 per beneficiary and by FCfa 6 million annually for each of the young entrepreneurs involved in the project.
With time, we learn, there will be projected increases of 216,000 tons in palm nut bunches, 240,000 tons in plantain banana, 10,000 tons in pineapples and 17,500 tons of palm oil.