(Business in Cameroon) – A South African trade delegation, led by Michael Gamwo of Wesgro, the official tourism, trade, and investment promotion agency for Cape Town and the Western Cape province, concluded a two-day mission in Yaoundé. Comprising 20 companies primarily from the wine, agribusiness, industry, and services sectors, the initiative aimed to strengthen economic partnerships between South African and Cameroonian businesses and encourage investments in Cameroon.
The Cameroon-South Africa Business Forum, held from July 9 to 10, provided a platform for in-depth discussions and B2B meetings between economic actors from both countries. Michael Gamwo emphasized the importance of promoting South African companies’ expertise and stimulating Cameroonian consumer interest in “Made in Africa” products, as reported by the public daily Cameroon Tribune. In partnership with the South African High Commission in Cameroon, the mission also aimed to facilitate investments by supporting economic operators interested in exploring new opportunities in the Cameroonian market.
According to the External Trade Report on Cameroon in 2023 published by the National Institute of Statistics (INS) on May 8, South Africa remained the country’s second-largest African trading partner. Imports from this southern African nation totaled 143.8 tons of goods valued at CFA47.9 billion, representing 1.6% of the market share that year. Compared to 2022, when South African imports amounted to CFA63.7 billion, there was a significant decrease in volume, but South Africa remains a key player in Cameroon’s continental trade. In terms of exports, South Africa sold CFA46 billion worth of goods to Cameroon in 2023, up from CFA44.5 billion in 2022. This increase indicates a renewed interest in South African products in the Cameroonian market despite global economic fluctuations.
Economic relations between Cameroon and South Africa have been bolstered by cooperation agreements between 2006 and 2018, including a trade agreement signed in September 2006 and the creation of a joint interministerial committee under the direction of Commerce Minister Luc Magloire Mbarga Atangana. This body serves as a platform for discussions on priority sectors for cooperation and trade between the two countries.
