Tag: Cameroon

UK, Cameroon pen trade partnership agreement worth US$277.3m

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CAMEROON – Cameroon has signed an Economic Partnership Agreement with the United Kingdom, strengthening economic and diplomatic relations between the two countries. It is a continuation of the trade relations that the two nations already had under the bilateral Cameroon-European Union EPA agreement. Thanks to it, the two countries will serenely continue their trade relations after the withdrawal of the United Kingdom from the European Union (Brexit), on December 31, 2020. Specifically, it allows preferential access without customs duty or quotas to the British market for all the Cameroonian products…

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Cameroonian SODECOTON to build US$45.5m cottonseed oil plant, Ethiopian edible manufacturer expands facilities

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CAMEROON – SODECOTON, Cameroonian state- owned enterprise in charge of managing the cotton sector, has made preparation to construct XAF25 billion (US$45.5 million) cotton seed oil production plant in Tchabal Margol-Ngaoundéré, Adamaoua. This is in anticipation to a rise in cotton production to at least 400,000 tons per annum by 2025 in the country. The new oil production plant with a daily pressing capacity of 300 tons, will be the third similar infrastructure owned by SODECOTON, joining the facilities in Garoua and Maroua, reports Business in Cameroon. To facilitate funding…

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Banana exports from Cameroon rise by 13.2% YoY attributed to bullish performance by all main exporters

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CAMEROON – Cameroon exported 17,258 tons of bananas in February 2021, a 13.28% year-on-year rise from the 14,965 tons exported in February 2020. According to data compiled by the Banana Association of Cameroon (Assobacam), the increase in exports was spurred by the commendable performance by all the three main market players. Plantations du Haut Penja (PHP), a local subsidiary of the French group Compagnie fruitière de Marseille exported 14,233 tons of bananas, a rise from 13,847 tons registered the previous year, representing a 2.71% jump. Over the same period, state-owned…

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Cameroonian Livestock Development Corporation becomes a full fledged public entity

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CAMEROON – The government of Cameroon has inked a decree transforming Livestock Development Corporation (SODEPA) into a state-owned company. This transformation, according to Business in Cameroon, gives SODEPA “legal personality and financial autonomy and also gives it room to create antennas, offices, or representations, if necessary, inside or outside the national territory by resolution of the board of directors. Prior to that decree, the corporation was a state-owned company but its operating powers were limited.  The transformation of this company into a public corporation was a recommendation made by the…

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Cameroonian cocoa value chain players collaborate in implementation of zero-deforestation frame work

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CAMEROON – Cameroon has set up a policy framework for sustainable and zero-deforestation cocoa production led by the Ministry of Agriculture and Rural Development, in collaboration with the Ministry of Commerce, Ministry of Forestry and Wildlife, Ministry of Environment and Sustainable Development. The ‘Roadmap to Deforestation-free Cocoa’ is a partnership between the public sector, private sector, civil society, farmer organizations, research institutions, development partners and other stakeholders in the value chain. Its objective is the preservation and rehabilitation of forests that have been degraded by human activities, in particular encroachment…

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Cameroonian government seeks to partner with potential investors in establishment of country’s food processing sector

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CAMEROON – The government of Cameroon through the Ministry of Livestock, Fisheries and Animal Industries (Minepia) has issued a call for expression by interested investors wishing to invest in the country’s animal by-products processing sector. To facilitate the project, the government has received funds from World Bank in the framework of the Livestock Development Project known as PRODEL. The government will co-fund with the qualified private investors in the establishment of the processing units to the tune of XAF150 million (US$274,000) – XAF350 million (US$641,000), or 60% of the budget…

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Banana exports from Cameroon declined by 8% in 2020 despite resumption of operations by CDC

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CAMEROON – Banana exports from Cameroon in 2020 amounted to 187,884 tons, an 8% decline from the previous year’s 204,320 tons. According to the Banana Association of Cameroon (Assobacam), the 17,436 tons dip will result in revenue decline from 2019’s XAF 136 billion (US$250m). The country’s leading exporter Plantations du Haut Penja (PHP), subsidiary of Compagnie fruitière de Marseille, saw its exports decline by 20, 6613 tons from 187, 423 tons attained the previous year to 166, 726 tons in 2020. The same down trend performance was reflected by Boh…

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Cocoa processor in Cameroon eyes export market with establishment of US$73.8m processing plant

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CAMEROON – Atlantic Cocoa Corporation, an Ivorian cocoa processor with operations in Cameroon is set to commence operations at its newly built processing plant worth XAF40 billion (US$73.8m). According to reports by Business Cameroon, the new factory has a production capacity of 48,000 tons expandable to 64,000 tons and is scheduled to load its first derived products for exports on December 12, 2020. The plant was scheduled to be operational since 2018 but it encountered several challenges, namely insufficient energy and water supply, poor quality of communication and internet networks,…

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Carrefour set to open fourth outlet in Cameroon in expansion spree

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CAMEROON – French retail group Carrefour in partnership with CFAO retail is planning to open its 4th store in Douala, Cameroon as part of its strategy to conquer the Sub-Saharan African retail market. The new outlet to be opened before the end of the year will be the 3rd in Douala, hosted inside the Douala Grand Mall, reports Business in Cameroon. Carrefour opened its first outlet in the country in 2017 in Bonamoussadi, Douala. In September it opened its second store in the city. In the framework of its sub-Saharan…

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European Union boosts Cameroon’s dairy processing capacity with US$11.77m

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CAMEROON – The European Union has marked the completion of the XAF13.11 billion (US$23.7m) Agricultural Productivity Enhancement Program (SAPEP) in Cameroon with the launch of mini dairy processing plants in the Northern region of the country. The dairies located in Maroua, Garoua, Ngaoundéré, and Meiganga will undertake milk processing, expanding the regions offering from fresh milk to pasteurized milk, yogurt, table butter, ice cream, and cheese, among other products. According to reports by Business in Cameroon, EU has injected XAF6.5 billion (US$11.77m) in the dairy program, boosting the country’s daily…

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