Cameroon’s Investment Promotion Agency (IPA) has signed three new investment agreements worth over 14 billion CFA Francs (XAF) in Yaounde, targeting agro-industry, manufacturing and tourism. The deals, announced on March 23, involve Dice Empire Farm Ltd, Alchemix Sarl and Glaguiran Sarl, with a combined projected investment of 14,027,789,054 CFA Francs and an estimated 511 direct jobs.
According to the IPA, the agreements aim to strengthen private sector participation, reduce unemployment and support sectoral diversification by mobilising capital in priority industries.
The latest agreements follow a previous round signed on February 19, involving five deals with Cameroonian firms in wood processing, hospitality, manufacturing, tourism and cement. That round represented more than 107 billion CFA Francs in planned investments and is expected to create nearly 2,000 direct jobs.
The projects announced during that round include the Sphinx Resort Palace in Sangmelima, a 100 billion CFA Francs development expected to create 1,000 jobs, alongside a cement plant by Atlantic Group with a projected annual capacity of one million tonnes and a 24-month timeline.
Combined, the two rounds represent over 121 billion CFA Francs in planned investments in less than a month, with projected employment exceeding 2,500 direct jobs.
IPA Interim General Manager Boma Donatus said the increase in domestic investment is intended to signal market confidence and attract foreign direct investment, as international investors typically look for evidence of local commitment.
To support this approach, the agency is developing a one-stop-shop digital platform allowing foreign investors to submit applications and obtain approvals within 10 days. In addition, administrative incentives and regulatory reforms are being introduced to reduce bottlenecks and accelerate project execution.
Mercy Fosoh
