After successful roadshows in UAE, India: IPA seals four strategic deals, establishes 200 contacts with potential investors.

The mission, dubbed: “Invest in Cameroon Roadshow”, he said, resulted in the marketing of Cameroon as a strategic destination for investment from Asia and the Middle East. 

He said the IPA team was in the United Arab Emirates and India from April 6 to 16, 2025, with focus on “participation in the Annual Investment Meeting and the Global Investment Conference, coupled with the organisation of Cameroon Investment Days in these two countries”.

Strategic partnerships sealed

According to the Interim GM, the roadshows generated substantial interest, with 21 firm investment intentions recorded from Emirati and Indian companies. 

This, he said, are across vital sectors including agriculture,  agro-industry, road, port and airport infrastructure, solar energy production, health and specialised hospitals, and information and communication technologies.

Boma added that IPA signed four strategic Memoranda of Understanding, MoUs, with the AIM Foundation in Abu Dhabi, the AMBAD Industries and Manufacturers Association, AIMA, in India, the Indian Global Investment Consortium, IGIC, and Cobo Square.

The agreements, he remarked, “will significantly enhance our capacity to attract Indian and Emirati investors to development projects in Cameroon”. 

Meanwhile, he noted that there was expression of interest in 20 public and private projects with engagements underway for the possible signing of MoUs.

Tangible prospects underway

The Interim GM further said there were concrete prospects with 10 Letters of Intent, LoI, signed by companies keen on specific projects. 

He said return missions are being prepared, notably with Brassica Pharma, which has expressed interest in the pharmaceutical sector, while negotiations are ongoing to secure financing for critical infrastructure projects, including data centers and the ambitious Aérocity project.

“IPA intends to continue its efforts, with the support of the Government, to convert these intentions into concrete investments that will create value and jobs for our country,” Boma underscored.

Cameroon shines at Africa CEO forum

Beyond the Asian and Middle Eastern outreach, he said the IPA played an active role in the Africa Chief Executive Officer, CEO, Forum in Abidjan, Côte d'Ivoire, from May 12 to 13, 2025. 

This was under the auspices of a country mission led by the Prime Minister, Head of Government, Dr Chief Joseph Dion Ngute. 

According to Boma, progress has been made following discussions with Mitsubishi Corporation on infrastructure and energy projects. He added that conversations are underway with CNN and TV5 Monde to enhance Cameroon's international visibility through media campaigns. 

Lucky Group, an international Indian logistics firm, he said, also expressed concrete interest in a strategic partnership with the Port Authority of Kribi. 

Additionally, he disclosed that Japanese and Indian investors expressed desire to develop projects in Cameroon in agro-industry, ICT, and infrastructure. The potential investors, he said, are expected in Yaounde in the coming days.

“I can confirm that Prime Minister has agreed to host the Indian Adani group, one of the biggest shipping companies in the world, which is expected in the country to look at the investment prospects with the ports of Limbe and Tiko,” Boma mentioned.

He concluded that the IPA demonstrated the value of proactive and well-coordinated economic diplomacy in just a few days. 

“We have built strong partnerships, initiated dialogue with major international groups, and positioned Cameroon as a credible and ambitious destination for investment,” Boma noted.

Boma restated that: “Together with the Government, we will continue to implement the national strategy for attracting foreign direct investment”.

This article was first published in The Guardian Post Edition No:3458 of Wednesday May 28, 2025