logoBC
Yaoundé - 29 March 2024 -
Agriculture

Cemac: Food imports reaches XAF3,000bln a year (Daniel Ona ondo)

Cemac: Food imports reaches XAF3,000bln a year (Daniel Ona ondo)
  • Comments   -   Monday, 25 March 2019 11:26

(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.

PcA

eu-pledges-over-cfa12bn-for-entrepreneurship-and-electricity-access-support-in-cameroon
The EU agreed to disburse over CFA12 billion to support growth-driven projects in Cameroon. The two related deals were signed in Yaoundé on March 26...
central-africa-set-for-highest-economic-growth-in-a-decade-amid-inflation-concerns
Growth within the Cemac region is expected to peak at 3.6% this year, according to the estimates of Beac’s Monetary Policy Committee (MPC), which met on...
mtn-cameroon-sees-record-growth-with-cfa325-7bn-revenue-in-2023-amid-market-challenges
MTN Cameroon reported a robust revenue of CFA325.7 billion for 2023. According to data released on the Johannesburg Stock Exchange in South Africa, this...
cameroon-s-customs-enforces-air-cargo-regulations-threatens-fines-for-non-compliance
Edwin Fongod Nuvaga, the Director-General of Customs in Cameroon, has issued a reminder to airlines about their obligations to comply with standard...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »