Economy

After convention with SMEs Promotion Agency: Fatima Foods DG salutes gov’t for tax, customs incentives.

by Tong Makia Evrol
28 May 2024 18:22
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Fatima Foods DG & SMEPA boss in warm handshake after signing agreement

The Director General of agro-food industry, Fatima Foods, Armand Tchinang, has expressed gratitude to government for the policy put in place to accompany Small and Medium-sized Enterprises, SMEs, in the country.
He was speaking in Yaounde recently, after signing a tax and customs incentives convention with the Small and Medium-sized Enterprises Promotion Agency, SMEPA.

The convention falls within the framework of Law No.2013/004 of 18 April 2013, put in place by government offer tax and customs reduction opportunities to companies investing in Cameroon.

The Director General of Fatima Foods said the company it is set up to transform agricultural products into processed food products, marketed under the brand “Fatima”.

The Canada-based entrepreneur said the move to set up the industrial production unit is in response to “the vibrant appeal of the Head of State to the diaspora for the development of Cameroon,”

Based in Japoma on the outskirts of Douala in the Littoral Region, Fatima Foods is deeply committed to supporting the government in its import substitution policy.

“Our ambitions are to transform our local products into food flour, in particular cassava, plantain and in the medium-term potatoes, without this list being exhaustive,” he explained.

Armand Tchinang: Fatima Foods DG talking to the press

The launch of the company is earmarked for the fourth quarter of 2024. He said the signing of the agreement “materialises in a very concrete way the strategic support of the State of Cameroon, for the industrial investment of one of its sons”.

According to the Fatima Foods boss, the tax and customs incentives given to his company by the agreement will permit them to concentrate on production, supervision of producers and on marketing, so as to fully achieve their objectives of added value to the economy.

Enter SMEPA boss

Speaking to reporters after the signing of the agreement, the Director General of SMEPA, Jean Marie Badga saluted Cameroonians in the diaspora for heeding the appeal of the President of the Republic and returning to invest in the country.

This, he said, is contributing hugely to Cameroon’s economic development.

“We are very happy to welcome these Cameroonians who are coming from the diaspora and who have listened to the appeal of President Paul Biya. Yesterday we received an investor from South Africa, today there is another one coming from Canada. That is to say Cameroon is an investment destination and government has put in place measures which favour setting of up projects and to also create jobs,” the SMEPA boss said.