(Business in Cameroon) - Over an area of 20 hectares in the town of Mbankomo, in the suburbs of Yaoundé, the Cameroonian capital, the Italian group Pizzarotti will set up an industrial zone for production units of construction materials and other prefabricated elements for the construction of accommodations.
This is one of the components of a project for the construction of 10,000 low-cost housing that the Cameroonian government just awarded to this Italian industrial group. Financing agreements valued at FCfa 115 billion were signed on 1 March 2017 between the Cameroonian side and the Italian bank Intesa Sanpaolo, who has already provided funding for the construction of a 60,000 seats stadium in Yaoundé, in the run-up to the 2019 AfCON which Cameroon will host.
The signature of the agreements on this social housing project is the completion of a long process, started since 2012. We can recall that on 25 April that year, a ceremony for the signing of agreements on the same project, between the government and Pizzarotti, was cancelled at the last minute. Officially, this was because the Cameroonian side did not agree to some aspects of the contract. The project was revived in 2016, after a visit by the Italian Head of State, Sergio Mattarella, in Cameroon.