On tour to projects sites in Douala: Private investors hail Investment Promotion Agency for fostering gov’t's import substitution policy.

They made the remarks during the a two-day follow-up tour undertaken by the General Manager of IPA, Marthe Angeline Minja, to some privately-owned foreign investments in the region, that have benefited from government’s incentives while implementing their projects in Cameroon. 

The tour, which started earlier last week in Yaoundé, continued in Douala on Wednesday November 1 and Thursday November 2. 

Minja said she had come on a monitoring and evaluation tour to companies that had signed an agreement with IPA and to also take stock of how well they have gone in implementing the terms of the signed convention.  The agency, she said, had signed conventions with the enterprises within its mission to accompany companies wanting to invest in the country. 

The conventions were entered within the framework of Law No. 2017/105 of 12 July 2017 – amending certain provisions of Law No. 2013/004 of 18 April 2013, which grants tax and customs incentives for private investments in the country, making Cameroon more attractively favourable to investors.

"In fact, the Head of State, President Paul Biya, had noticed that at the level of foreign investments, Cameroon was almost at zero. That is why he had given orders for the finance law to be amended to favour investors. IPA now acts as an interlocutor between these investors and the government ministries in charge," she explained.

The visit took the IPA boss to the sweetened concentrated milk production company, Top Food Cameroun, in Bomono, Moungo Division; Elim Beverages and Food industry in Bekoko, still in Moungo Division and some other factories at the Bonaberi industrial zone.

Marthe Angeline Minja on visit to a beverage producing industry in Bekoko 

Visit to Top Food and Elim Beverages

On the first day of the visit, the IPA boss made rounds at the beverage and sweetened milk production companies in Bomono and Bekoko. There, she unveiled her reasons for visiting to the top management of both companies. At every stop, her mission was unchanged. 

"I came together with my team not for anything different but to see how much the convention you entered with us has been implemented. It is very important to us because some people still cast doubts on the effectiveness of 2013 law on investment promotion in Cameroon and its importance to investors," she said. 

Minja added that IPA is the bridge between the government and investors, and as such has the duty to ensure investors keep to the accord and if need be tell them what more needs to be done to render their operations in the country even more smooth.

"We are always opened to listen to you. Do not hesitate to call on us for anything," she said.

The Top Food project in Bomono, according to its General Manager, Abdallah Hijazie, is estimated at five billion FCFA. The management said they are three times able feed the Cameroonian market and the sub-region. However, in the sub region they said they are still doing feasibility studies, but wanted to explore the local market first.

IPA GM, Top Food GM, staff on guided tour at factory in Bomono 

Abdallah said it was in the good interest of the State to have created IPA, whose role is necessary in boosting local production, in line with the much talked about import substitution policy. 

Meantime, at Elim Beverages, installed in 2014, the GM of Spanish origin, Hernan Cordova, said they had a smooth beginning thanks to support given to them by IPA. "Thanks to IPA, at the implementation phase…10 billion FCFA worth of tax, custom fair was reduced to our importation of industrial machines. We took off thanks to the support," he said.

Though the market is full of competition, global hikes in commodity and raw material prices is hindering fast production and distribution. But Cordova believes they are on the right part.

“…penetrating big spaces like supermarkets was not easy, but now we are at 80 percent penetration of all market spaces," he said. 

He appreciated Cameroonian for having accepted the products in the market with flavours from South America. The company produces 120,000 bottles of the six variety per year. It has created 260 direct employment and more indirect jobs. It supplies across the national triangle, Chad, Congo, Gabon and Central African Republic.

IPA's GM with staff and manager of Novia Industries

African Cylinder to send out first stock soon

Meanwhile, Bernabe Siatcha, the Chief of Project of the newly constructed gas bottle factory located at the industrial zone in Bonaberi, revealed that the company is set to send its first consignment of cylinders by December this year. 

Created in 2022, Siatcha noted that it was thanks to the convention with IPA that they were able to bypass some administrative exigencies. He added that they will continue to lobby for the support of IPA as they plan to expand. 

"As every child, when you eat and it good, you continue to ask for more...we will need help to be able to surmount some difficulties," he said. 

The company's gross investment is estimated to 50 billion FCFA. They are specialised in producing, extinguishers, gas bottles. For the moment, there are 40 persons working on the site, producing 1,500 bottles per day. However, the entire team consists of 150 persons in for the entire project chain of workers.

The bottles produced it, was said, have a lifespan of 25 years. Market for gas cylinders, it was disclosed, progresses at 25 percent each year.

Novia promises more jobs for Cameroonians 

Whilst he was appreciating the Investors Promotion Agency for their unwavering support to foreign investors, the General Manager of Novia Industries, Khalil Farran, unveiled that the company plans to employ 95% percent of Cameroonians in the workforce. 

"We are glad to be contributing our quota in the government's import substitution policy by producing products of good quality at affordable prices. We plan to expand and employ 500 young Cameroonians, making our workforce 95% local," Farran said. 

The IPA boss ended her tour in Douala at Krystal Palace hotel, which has been operational for over a year now.