(Business in Cameroon) - Cameroon welcomed this week a delegation of wealthy investors from the Qatari and Emirati royal families, who came to explore the business environment.

During their meeting with Finance Minister Louis Paul Motazé, the delegation's spokesman, Fitzgerald Zephyr, said they were most interested in mining, agriculture, textiles, and industries. Attracting such investments will further propel the economic cooperation between Cameroon and these two Arab countries. According to official data, trade relations between Cameroon and the UAE appear to be limited to massive imports of goods, mainly from Dubai to Cameroon. Direct investment from the UAE to the African country is almost nil.

Qatar, on the other hand, has recently announced a direct investment in Cameroon. In early 2021, Kasada Capital Management, an investment vehicle dedicated to the hotel sector in sub-Saharan Africa, controlled by the Qatari group Katara Hospitality, announced the purchase of eight hotels in Cameroon, Côte d'Ivoire and Senegal from the Accor group. In Cameroon, the deal involved the Ibis hotel in Douala; the very first investment by Qatar in the country.

BRM