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Cameroon: XAF14.6 billion of investments expected in the agribusiness, wood processing and hospitality industries

Cameroon: XAF14.6 billion of investments expected in the agribusiness, wood processing and hospitality industries
  • Comments   -   Friday, 18 December 2020 16:33

(Business in Cameroon) - Last December 15, Marthe Angéline Mindja (general director of the investment promotion agency API) signed investment agreements with six local companies with investment projects in the hospitality, agribusiness, wood processing, and manufacturing industries.  

The overall volume of the investments concerned by the agreements is XAF14.6 billion for over 350 jobs to be created. The beneficiaries include OK Food (a well-known agribusiness company), and Himore Medical (the company through which Cameroonian engineer Arthur Zang sells Cardiopad -the first made-in-Africa health care tablets).  

Thanks to these agreements, the beneficiary companies will receive the incentives provided by the law of 2013 (amended in 2017) encouraging private investments in Cameroon. The said law provides for various customs and fiscal incentives during the installation as well as operation phase.

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