(Business in Cameroon) - A major outcome of the 33rd session of the Council of Ministers of the Central African Economic Union (UEAC) which took place March 22 in N’djamena, Chad, is the need to fuel key sectors within the Cemac region. Speaking at the event, Daniel Ona Ondo, head of the Cemac commission, evoked weak investments in areas such as agriculture, livestock, fisheries, and aquaculture; weakness that slows economic growth.
“Central Africa is really dependent on food imports which peaked at XAF3,000 billion per annum, about $900 million,” the official regretted. According to him, “the major challenge for our countries is to ensure food and nutrition security,” in an environment where a restored trade balance will provide room for maneuver to ensure financing of the local industrial fabric of some States.
The issue will be discussed next June in Brussels, Belgium, during a round table by donors. Talks will focus on financing agriculture, fish farming, and aquaculture as well as agro-pastoral sectors. The meeting will gather diplomatic missions, international and regional organizations, banking & financial institutions, and NGOs.
The European Marketing Research Center (EMRC), an international platform based in Brussels and specialized in supporting economic and sustainable development in Africa, will also be part of the workshop, along with technical and financial partners including the African Development Bank, African Union, Green Climate Fund, Central African Development Bank and the Islamic Development Bank.