Cameroon first to benefit from UK trade, investment support scheme.

The follow up mission comes after the business convention which held in London in October 2022. The Minister Delegate to the Minister of the Economy, Planning and Regional Development, MINEPATE, in charge of Planning, Paul Tasong, chaired the meeting.

Minister Tasong expressed appreciation to the UK government, noting that the progress is in line with the vision of President Paul Biya in relation to Cameroon National Development Strategy, SND30.

The strategy, the member of government said, “strategy took the option to invite the private sector to play a more frontline role in growing the economy of Cameroon”.

The minister expressed his desire to see the UK support private businesses in Cameroon. The priority area for Cameroon, the minister emphasized, is getting more sustainable energy, stating that “we cannot possibly industrialise without energy”.

He also reiterated the need to “… to feed the economy, the potentials in Cameroon are first and foremost around agriculture”.

 Tasong told the press that the country’s five ecological zones have what it takes to develop Cameroon.

Also in attendance were the British High Commissioner to Cameroon, Dr Christian Denny’s McClure; UK Export Finance, UKE Head of  West Africa, Steve Gray;  Mission Lead and Advisory Board Member of Developing Markets Associates Limited, DMA invest, Simon Tonge.

Founders and representatives of private businesses like ERG International, L & T Construction, Intertek, Citibank, Planet one, Adaptive E-Learn System, ADES UK, West Safety, AM Consulting amongst others also answered present to this business gathering.

The British High Commissioner to Cameroon on his part said, “we are really pleased to be able to welcome here today trade missions from the UK to Cameroon, there are a number of companies here with expertise and a range of sectors including infrastructure, health education, energy many other sectors and we are looking forward to seeing this conversations progress”.

The diplomat also said, so far “bilateral trade between the Uk and Cameroon is higher than it was before the pandemic which means it’s growing”.

He disclosed that in the last four quarters, trade between both countries stood at around 200 million pounds.

The newly created Uk Cameroon Chamber of Commerce was represented by its president Elias Pungong.  Pungong also said he is looking forward “to engaging on a practical level, businesses and trade relationships between Cameroon businesses and UK investors and vice versa”

Pungong praised Cameroon’s potentials and said such was the reason for the presence of investors and business owners. He encouraged them to make use of the opportunities available.

 “We must take advantage of their presence here, they came with expertise, capital, knowledge, know-how and we must take advantage to have some of this transferred and to develop our economy and to promote UK Cameroon trade investment,” Pungong remarked.

A panel on the strategic projects offer from the government of Cameroon also marked the event.  Representatives from MINEPAT, alongside the ministries of water and energy, finance, public works, mines, industries and technological development, agriculture and rural development responded to investors.

On Tuesday, the delegation was received in audience at the Prime Minister’s Office. They also held talks with other public and private stakeholders.

The trade mission involves six countries. The next stop will be Gabon followed by Ivory Coast, Togo, Senegal and Niger. All these will be within six weeks.