(Business in Cameroon) – The SME Promotion Agency APME has signed a partnership agreement with Bien-Être, a Kontcheu Group subsidiary, to develop three new tourist sites in Douala. This collaboration falls under the private investment incentive scheme established by a presidential decree on April 18, 2013.
The new complexes, set for locations in Akwa, New-Bell, and Yassa, are part of an ambitious private sector-led urban development initiative backed by the state. Once completed, these sites will include fitness centers, recreational areas, shopping galleries, and various commercial attractions.
“This is a two-phase project spanning 28 months, with a total budget of nearly 20 billion CFA francs,” said Clauvis Kontcheu Mofang, CEO of Kontcheu Group. “The current agreement covers only the first phase,” he added, noting this initial investment phase is estimated at 11 billion CFA francs.
For Kontcheu, the agreement signifies more than just financial backing. “It validates our business model and our commitment to innovation and growth,” he stated.
On the institutional side, APME Director General Jean-Marie Louis Bagda noted the agreement grants Bien-Être access to tax and customs exemptions provided under the law. “This partnership adds to the 83 investment agreements already signed under this scheme,” he said.
Bien-Être, already active in the market with the B’ssadi Galleries complex inaugurated in 2021 in Douala, aims to expand its footprint in the urban leisure sector. Project estimates indicate the new initiative will create 560 direct jobs and nearly 2,000 indirect jobs.
This article was written in French by Ludovic Amara,
Edited in English by Mouka Mezonlin
