(Business in Cameroon) - In late 2019, Dutch import-export company Olaf Trading got in touch with the Cameroonian Ministry of Finance.

The company offered to lead the investment project backed by a €450 million (about XAF294.7 billion) loan refundable for 10 years at an interest rate of 3.5%. Four sectors are targetted by this investment project namely, urban development, infrastructures, public works, environment, as well as agriculture.

"The Kingdom of the Netherlands has the means to support and guarantee Dutch companies wishing to invest in Cameroon. It should be noted that this amount has increased from 40 million euros to 700 million euros between 2016 and 2019. This state guarantee is managed by the insurance company Atradius Dutch Business," Olaf Trading indicated in its correspondence.

Cameroon was thus invited to identify the projects to be funded, by November 30, 2019, and transmit them to the trading company. The Ministry of Finance has currently provided no update on the advancement of this proposal.

However, Olaf Trading assures that it will recruit competent Dutch companies to handle the projects on Cameroonian soil and serve as the mediator between the government and the companies recruited.

Let’s note that Olaf Trading has a subsidiary in Cameroon. It is based in Douala, the main port city that serves as the entrance to Cameroon and also to neighbouring countries.

S.A.