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Cameroon to inject 98 billion FCFA to stimulate local industrial sector 

CEMAC ECO FINANCE

The Cameroonian government plans to inject a budget of 97.85 billion FCFA for the industry and services sector, within the framework of the  2021 finance law which is being elaborated at the moment.

This envelope will be used in sectors such as craft production, agro-industrial technopoles and priority economic zones.

According to Agence ECOFIN, “This allocation is mainly directed towards the operationalization of the industrialization master plan (PDI); promoting the “Made in Cameroon” label through the construction of a metrology laboratory, support for supervisory structures for artisans, promotion of local crafts and the establishment of business incubators in the locality of Edéa ”

The budgetary envelope will also be used by government to strengthening the governance of artisan production units and the system for verifying and checking standards on imported and local products, the pursuit of the development of priority tourist sites (launch of the Mingoa Valley in Yaoundé, etc.), the establishment of the agro-industrial technopole of Ouassa-Baboute and support for actors in the artisanal mining sector in terms of production and marketing of substances mineral through the gold pipeline.

Finally, with the same funding, the State intends to complete and operationalize the priority economic zones in Douala, Kribi, Limbe and Maroua.

Cameroon faces a deep balance of trade deficits due to huge imports of food and materials for agro industrial companies. The country’s economy suffers from factors such as stagnant per capita income and a relatively inequitable distribution of income. The Government of Cameroon provides subsidies for electricity, food, and fuel. Though this contributions helped many households, at the same time they had their toll on the federal budget and diverted funds from education, healthcare, and infrastructure projects



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