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European countries plan to generate close to XAF9,000 bln of financial flow in Cameroon over the next 10 years

European countries plan to generate close to XAF9,000 bln of financial flow in Cameroon over the next 10 years
  • Comments   -   Monday, 26 October 2020 16:37

(Business in Cameroon) - European countries active in Cameroon plan to generate a financial flow of XAF8,980 billion in the country over the ten coming years, meaning an average of XAF898 billion yearly, according to the mapping of EU 2020 investments.

The countries will invest XAF296 billion in Cameroon yearly. As for the EU companies operating in Cameroon, their turnover is expected to be about XAF444 billion yearly. Also, they are expected to pay XAF90 billion of VAT and taxes as well as XAF68 billion of customs duties yearly during the period.

The same source indicates that France will generate the largest portion of the financial flows (57%) while Belgium will generate 19%, 14% for Italy, 6% for Germany, 3% for Holland, and 1% for Spain.

According to a survey on the outlook of the Cameroonian market conducted by the European Union delegation between April and May 2020, 44% of European companies operating in Cameroon believes the country’s market has strong growth potential while 23% believes the growth potential is good. For 6% of them, growth will stall and 29% projects hard conditions.

Sylvain Andzongo

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