Cameroon: Nine projects worth 58 billion FCFA have been chosen to encourage private investment

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Cameroon: Nine projects worth 58 billion FCFA have been chosen to encourage private investment

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- Wednesday, 18 February 2015 21:54

(Business in Cameroon) - Nine Cameroonian companies have just been selected to take part in the private investment incentive initiative in Cameroon. This allows them to receive 5 to 10 years of tax exemption during their set-up and launch phases.

Among the companies chosen are UCB, the Cameroonian Breweries Union company, the cocoa grinding company, Fapam Industry Sarl and the palm oil refinement company, SCR Maya. The total investment agreed upon is an estimated 58 billion FCFA and is expected to create 2,500 direct jobs.

In total, the government has already signed such agreements with 26 companies with projects, representing a cumulative investment of over 283 billion FCFA and over 7,000 direct jobs.

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