A significant Moroccan business delegation comprising 25 companies is set to arrive in Cameroon this November, aiming to bolster the investment and commercial relationships between the two nations. This initiative marks a strategic effort to enhance economic collaboration, as both countries look to tap into various sectors ripe for development and mutual benefit.
On June 8, experts from Casablanca Finance City (CFC) convened with officials from the Cameroon Chamber of Commerce, Industry, Mines and Crafts (CCIMA) in Douala to discuss priority sectors and forthcoming projects in preparation for the anticipated "CFC Africa Tour" mission. During these discussions, the focus was placed on identifying lucrative investment avenues and establishing cooperative frameworks that would foster Moroccan direct investment, along with commercial contracts and partnerships with local enterprises.
This initiative is part of Cameroon’s broader strategy to attract additional private capital into key economic sectors. The areas earmarked for potential collaboration include agro-food industries, infrastructure development, ecotourism, logistics and transport, renewable energy, mining, and other vital sectors that are essential for economic growth and value-chain enhancement. Organizers of the mission believe that it will serve as an excellent platform for Moroccan and Cameroonian businesses to explore investment opportunities and forge commercial relationships.
Hicham Chaoudri, the Director of Institutional Affairs and African Partnerships at Casablanca Finance City, explained that the choice of Cameroon as a destination for this mission stems from the country's robust economic profile, which positions it as an ideal partner. He emphasized that Cameroon plays a pivotal role in Central Africa and boasts a diverse and dynamic economy. Chaoudri remarked, "Cameroon is a power in Central Africa, with a very diversified and highly dynamic economy. Our strong relations with both the Cameroonian government and private sector further solidify our decision to engage here."
Officials at CCIMA have highlighted the necessity for local businesses to adequately prepare to seize the opportunities that will arise from this visit. They are particularly focused on sectors that require financing, technical partnerships, and access to new markets. Daniel Tala Kuate, President of the Industries and Public Works Section at CCIMA, noted that this mission could unlock potential opportunities for local operators seeking partners and investors. He stated, "The Moroccan mission brings a solution. Economic operators, particularly those in the construction sector, are resourceful and will know how to present their projects and assess the opportunities available."
The emphasis on developing bankable projects prior to the delegation's arrival was underscored by Dr. Simon François Yonga Bakalag, National Coordinator of the Growth Sectors Network Centre. He stressed the importance of project preparation in securing investment commitments and indicated that the centre plays a crucial role in supporting working capital needs and mobilizing direct investment. He stated, "The projects must be sufficiently developed, and that is the role the centre must play in terms of working capital and direct investment to strengthen weak links in our value chains."
Following this preliminary mission, the organizers aim to identify 25 Moroccan companies that will participate in the November visit, which is expected to emphasize investment promotion, business partnerships, and sector-specific opportunities.
As reported by businessincameroon.com.
