logoBC
Yaoundé - 18 January 2020 -
Agriculture

Cameroon : Castel group plans to go into the agriculture sector

Cameroon : Castel group plans to go into the agriculture sector
  • Comments   -   Monday, 23 December 2019 14:36

(Business in Cameroon) - In Cameroon, French brewery group Castel is planning investments in the agriculture sector. On December 20, the CEO of the group, Pierre Castel and a delegation including the French ambassador to Cameroon Christophe Guilhou was received by President Paul Biya in Yaoundé. The aim of this audience was for Castel Group to present its investment programme.  

The new investment programme presented by the CEO of Castel group to the Head of State focuses on the development of agriculture in order to reduce the importation of raw materials used to produce brewing products,” the presidency of the republic indicated.

For the time being, Castel indicates that 30% of its inputs are supplied in Cameroon. It currently collaborates with 6,000 local farmers that supply 30,000 tons of sugar and 10,000 tons of corn to the group’s local subsidiary SABC yearly.

Despite these supplies, 70% of SABC’s input needs still remain to be covered. The group’s CEO has not yet revealed the specific details on these new investments but, it can be guessed that the targetted sub-sectors are corn and sugar used in the production of brewery products.

Castel indicates that its yearly investments in Cameroon are estimated at XAF35 billion and it generates 15,000 direct jobs and 35,000 indirect jobs.

Sylvain Andzongo

cameroon-kuwait-fund-s-active-portfolio-estimated-at-about-xaf20-billion
Currently (January 2020), the active portfolio of the Kuwait Fund in Cameroon includes three projects for an amount of US$35.5 million, or about XAF20...
cameroon-minimum-cocoa-farm-gate-price-drops-to-xaf1-080-per-kilogram
Since December 31, 2019, the farm-gate price per kilogram of cocoa beans in Cameroon's production basins has declined slightly from a high of XAF1,250 to...
cameroon-imposes-20-precautionary-freeze-on-some-administrations-budgets-to-ensure-proper-budget-implementation
Reading through the circular that sets the framework for the implementation of the 2020 Finance bill, it appears that Cameroonian administrations must...
cameroon-50-tons-of-fish-supplied-to-the-population-during-the-2019-holidays-thanks-to-the-agropoles-project
During the 2019 holiday season, the ponds created in Cameroon with the support of the Agropoles project helped provide 50 tons of fish to the...

Mags frontpage


Business in Cameroon n82-83: December 2019-January 2020

CFA: The debate is open in the CEMAC


Cameroon becomes CEMAC’s financial center


Investir au Cameroun n92-93: Decembre 2019-Janvier 2020

Franc CFA : le débat est ouvert en zone CEMAC


Le Cameroun devient la place financière de la CEMAC