CAMEROON
The new locomotive of Western Africa

Introduction - Economy - Banking - Government Challenges - Communication
- Oil - Agriculture - Public Works - Transport - Tourism

"GREEN GOLD MIRACLE"

Whereas the agricultural sector makes up more than one third of the gross national product (GNP), the production of Cocoa during 1998-99 increased to 124 391 tons produced while Coffee recorded a 10% growth to 58 885 tons for the same year. Palm oil production increased by 3% , banana production by 8.8% and natural rubber production by 3.9% . Being confident about this agriculture which rent has increased of about 2.3%, the Minister for Agriculture, Mr. Zacharie Perevet ensures that " the production could be multiplied by three or four since the production implement can increase the current benefits and so much as the country still offers unexplored grounds " Cameroon's Cotton Development Company, Sodécoton, with a stable production of about 200 000 tons per annum, hopes to increase its production after having undergone privatization. This company, one of the most powerful in the country, also endeavors to fight against poverty. "
Except for 35 billion CFA Francs redistributed to our shareholders each year, our social commitment , particularly in road construction, is greatly appreciated by the 350 000 independent producers that we employ ", explains Mohamed IYA, General manager of Sodécoton. The production of barks increased only by 2.5% in 1998-99, only 3.5 million cubic meters of wood, due of heavy taxation and the limit on concession grant. Onadef, the National Office of Forest Development, is responsible for planning and increasing the exploitation of the 22 million hectares of the Cameroon's forests. To produce up to 6 million cubic meters and generate added value prove to be possible for Mr. Jean William Sollo, General manager of Onadef who believes that it was possible thanks to: " our actions of reclaiming, reforestation and of our support for the wood activity field by training workers able to transform wood from its natural state into finished products ".


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You can find the version published in Forbes Global or Far Eastern Economic Review

© World INvestment NEws, 2001. This is the electronic edition of the special country report on Cameroon published in Forbes Global Magazine, October 1st, 2001. Developed by Agencia E.