Cameroon - Agribusiness at the service of economic growth

According to the National Development Strategy to 2030 (SND), Cameroon is counting on local industry to boost the economy. The agri-food industry 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 to build a new oil mill by the public agro-industrial unit Cameroon Development Corporation (CDC) come at a crucial time for the entire palm oil sector.

In August 2021, the Cameroonian government, through the Investment Promotion Agency (API), granted the agro-industrial company Agrivar Cameroon the benefit of tax and customs exemptions for a period of 5 to 10 years, as stipulated by the law on incentives for private investment. These exemptions are granted within the framework of a project to build a soybean processing plant 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 planned agro-industrial plant will create approximately 1,000 jobs, representing an investment of €23.629 million. This project will contribute to reducing soybean imports.

In 2020, Olam reorganized by creating two separate businesses, Ofi and Olam Agri. The latter focuses on processing food, animal feed, and fiber. A highly automated Olam factory, commissioned in 2015, produces wheat flour-based products ranging from doughnuts and standard baguettes to premium baguettes and toast. Olam's rice brands – Riz Mémé and Riz Bijou – are also among the most renowned in the country.

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

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In line with the government's objective of boosting textile production, a second cotton spinning mill with a production capacity of 300,000 tons per year will diversify production and reduce textile imports. Currently, only 21.3 tons of Cameroonian cotton is processed into textiles and clothing, falling far short of the objectives set by the National Development Strategy (SND30). The new company will focus on manufacturing uniforms for the state's technical corps. Public procurement could thus serve as a catalyst for the development of this sector.

In June 2022, the Cameroonian company Saagry SA announced the establishment of a palm plantation and industrial oil mill in Bakou, in the Haut-Nkam department of the West region. Alongside Pamol Plantation PLC, Socapalm, Safacam, and Camvert, this operator's entry into the market is expected to bolster the supply of palm oil on the local market. Despite its enormous potential, Cameroon currently relies on imports to meet local demand.

The Société Anonyme des Brasseries du Cameroun (SABC), the country's leading brewery, is considering changing its name to reflect a desire to shift its focus from breweries to an agribusiness. This transformation follows the creation of Compagnie Fermière du Cameroun (CFC), the SABC group's new agribusiness subsidiary. This unit, in which SABC has invested 18 billion FCFA, 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 the primary or secondary processing of raw materials.