Cameroon has signed five new investment conventions with locally owned companies in a move aimed at strengthening industrialisation, boosting domestic value addition and generating employment across key sectors of the economy. The agreements were concluded on 19 February in Yaounde between the Investment Promotion Agency and project promoters, under the supervision of the agency’s interim General Manager Boma Donatus.
The deals span wood processing, hospitality, manufacturing, tourism and cement production, reflecting what officials described as a strategic push to diversify the economy through local capital mobilisation. Combined, the projects represent an investment value exceeding 107 billion FCFA and are expected to generate more than 2,000 direct jobs, with additional indirect employment projected around major industrial zones and supply chains.
Among the signatories is La Société Micasa By MCG Sarl, which will invest 2.6 billion FCFA in wood transformation and manufacturing activities. The project is expected to create approximately 450 jobs, reinforcing government efforts to move beyond raw timber exports toward higher value processed wood products. Cameroon has long sought to expand domestic processing capacity in its forestry sector, which remains a significant contributor to export earnings.
In the hospitality segment, ETS Befidi & Fils has committed 4 billion FCFA, with projections of 300 new jobs. The investment signals confidence in the country’s tourism and business travel recovery, particularly as infrastructure and event hosting activities gradually expand.
Manufacturing capacity will also be strengthened through a 1 billion FCFA commitment by La Société Générale des Travaux du Cameroun, which is expected to create around 200 jobs. Officials say this project aligns with broader industrial policy objectives aimed at reducing reliance on imports and supporting local production networks.
The largest single investment under the agreements comes from Sphinx Resort Palace, which has announced a flagship tourism and leisure project valued at 100 billion FCFA. The development is projected to generate approximately 1,000 jobs, positioning it as a major contributor to employment and domestic tourism infrastructure. Authorities view large scale hospitality projects as catalysts for service sector growth, local procurement and regional development.
The fifth agreement involves Société de Ciment du Cameroun, further strengthening the country’s cement production capacity. Cement remains a strategic industry in Cameroon due to ongoing public infrastructure projects and urbanisation trends. Expanding domestic production capacity is expected to reduce import dependence and stabilise supply for construction activity.
The Investment Promotion Agency said the conventions include both new agreements and amendments to existing arrangements, offering fiscal incentives and regulatory support under Cameroon’s investment code. These incentives typically include tax exemptions during the initial operational phase, customs benefits on equipment imports and simplified administrative procedures.
Officials described the package as a demonstration of confidence in local entrepreneurship and a deliberate pivot toward domestically anchored industrial growth. By prioritising Cameroonian owned enterprises, the government aims to deepen local participation in strategic sectors and strengthen the resilience of the national economy amid global volatility.
The agreements come at a time when many African economies are intensifying efforts to industrialise and move up the value chain. For Cameroon, leveraging domestic investors while maintaining regulatory clarity will be essential to translating signed conventions into operational factories, completed resorts and sustained job creation.
If fully implemented, the five projects could contribute significantly to industrial diversification, employment expansion and regional economic integration, reinforcing Cameroon’s ambition to position itself as a manufacturing and services hub in Central Africa.
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