Cameroon - Agribusiness - Agribusiness in the service of economic growth

According to the National Development Strategy for 2030 (NDS), Cameroon is counting on local industry to boost the economy. Agribusiness is one of the levers that the authorities intend to use to develop SMEs.

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The projects to rehabilitate more than 1,550 hectares of palm groves and build a new oil mill by the public agro-industrial unit Cameroon Development Corporation (CDC) come at the right time for the entire palm oil sector.

In August 2021, the State of Cameroon, through the Investment Promotion Agency (API), granted the agro-industrial company Agrivar Cameroun the benefit of tax and customs exemptions for 5 to 10 years, as provided for by the law on incentives for private investment. These facilities are granted as part of a project to build a soybean processing unit in Douala, the country's economic capital. With a crushing capacity of 150,000 tons of soybeans per year, expandable to 300,000 tons, the agro-industrial unit in preparation will lead to the creation of approximately 1,000 jobs, for an investment of €23.629 million. This project will help reduce soybean imports.

In 2020, Olam reorganized with the creation of two separate operations, Ofi and Olam Agri. The latter entity aims to process food, animal feed, and fiber. A highly automated Olam plant, commissioned in 2015, produces wheat flour products ranging from doughnuts, standard baguettes, premium baguettes, and toast. Olam's rice brands—Riz Mémé and Riz Bijou—are also among the most renowned in the country.

Funded with 28.5 billion CFA francs by the International Development Fund (IFAD) in its second phase, the Agricultural Sector Development Support Project is a national project for the development of the rice and onion agricultural sectors. In order to improve food security through sustainable development, Cameroon has decided to acquire six onion processing units.

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In line with the government's desire to boost textile production, a second cotton spinning unit with a production capacity of 300,000 tons per year will diversify production and reduce textile imports. Indeed, only 2% of Cameroonian cotton is processed into textile and clothing products, which is far from the objectives set by the National Development Strategy (SND30). The new company's scope will be to manufacture uniforms for the state's major technical bodies. Public procurement could thus serve as a lever for the development of this sector.

In June 2022, Cameroonian company Saagry SA announced the construction of a palm grove and industrial oil mill in Baku, in the Haut-Nkam department of the West region. In addition to Pamol Plantation PLC, Socapalm, Safacam, and Camvert, the arrival of this operator should help strengthen the supply of palm oil on the local market. Despite its enormous potential, Cameroon is currently forced to rely on imports to meet local demand.

The Société anonyme des brasseries du Cameroun (SABC), the country's leading brewery company, is considering a name change due to its desire to be less a brewery and more an agribusiness. This change comes after the creation of the Compagnie fermière du Cameroun (CFC), the SABC group's new agribusiness subsidiary. This unit, in which SABC has invested 18 billion CFA francs, will produce 30,000 tons of corn grits annually, processing 60,000 tons of raw corn purchased from local producers.

These are just a few examples. For its part, the government is initiating partnerships to achieve primary or secondary processing of raw materials.