(Business in Cameroon) – Cameroon marked its inaugural participation at the Africa Singapore Business Forum (ASBF), held at the Grand Copthorne Waterfront Hotel in Singapore. The forum, themed “Bridging Capabilities, Charting Sustainable Growth”, brought together over 500 participants from Africa, Asia, and beyond to explore investment partnerships and strengthen economic ties.
Representing Cameroon at the forum was Bitchoka Nkak Calvin, Head of the Monitoring, Evaluation, and Strategy Division at the Investment Promotion Agency (IPA). He presented the country’s economic landscape, investment potential, and ongoing business climate reforms. He highlighted that Cameroon’s Gross Domestic Product (GDP) grew by 3.5% in 2024, driven by rising cocoa prices, improved cotton yields, and enhanced power supply. According to him, net inward investment reached FCFA 571.9 billion, a 15.7% increase compared to the previous year, reflecting growing investor confidence in the country.
At the forum, Bitchoka emphasised Cameroon’s abundant natural resources, tax and customs incentives, and high agricultural potential, noting that 65% of IPA-approved projects are in the agro-industry sector. Other projects are spread across infrastructure (10%) and energy, digital economy, and tourism (25%). He also highlighted recent reforms, including the digitalisation of public services and infrastructure development in priority sectors, aimed at improving the business environment.
The forum showcased the growing economic ties between Africa and Singapore. Bilateral trade increased by over 50% from S$12.1 billion to S$18.7 billion over recent years, while Singaporean companies’ cumulative investments in Africa reached S$26.9 billion, covering energy, infrastructure, digital services, consumer goods, transport, and logistics.
Singapore’s Minister for Sustainability and the Environment, Grace Fu, emphasised the importance of institutional linkages between Africa and Southeast Asia. She noted that Singapore’s Bilateral Investment Treaties with Côte d’Ivoire and Nigeria had recently entered into force, providing frameworks to protect investors and promote greater investment flows between Singapore and African economies.
The ASBF provided Cameroon with a platform to showcase its investment potential and economic reforms, positioning the country as an attractive destination for foreign direct investment in Central Africa. Several Cameroonian businesses met with Singaporean firms to explore potential partnerships in the agro-industry, energy sector, digital services, and infrastructure development. By participating in the forum, Cameroon signalled its readiness to engage with international investors, strengthen cross-regional partnerships, and expand its presence in global investment networks.
Mercy Fosoh
