An initiative of the governments of Cameroon and the US, the Business and Technology Forum was an occasion for fruitful business discussions, exploration of business opportunities and the procedures involved.

According to Jean Paul Yana, Commercial Specialist at the US Embassy in Cameroon, who led the Cameroonian delegation to Chicago and Eric Makuna Tande, President Makuna International Corporation, which is Chicago-based and facilitator of the Business and Technology Forum, the visiting business operators from Cameroon and their hosts from the US, met, discussed and forged a way forward for the eventual partnership, financing and follow-up to their businesses.

The Cameroon business delegation received with glee the announcement from the US Embassy’s Commercial Department, Illinois Department of Commerce and Opportunity, Overseas Private Invest Corporation, OPIC and Export, Import Bank of America, EXIM BANK, officials that they had a unique opportunity to tap from a fifteen billion US Dollars for development projects geared for Cameroon.

John Ritcher, Exim Bank Regional Director for Asia, Africa and the Middle East gave insights of his bank’s programmes and qualification requirements.

Some Cameroonian corporations at the forum, which included; FEICOM, SOPECAM, MAGZI, Chanas Insurance and the National Employment Fund, found new grounds for future possibilities, partnerships with related American investment partners.

African-owned companies but US-based were also very eager to extend their roots in the African continent. Mrs Ndgee in the food industry was very excited to undertake a production and distribution chains of her products in the African continent.

From Cameroon, Chanas Insurance, came up with the required warranty programme necessary for EXIM and OPIC banks to finance export and import of US commodities. This warranty has been a speedbrake to many companies from operating with EXIM, especially on the credit line.

The CEO of Makuna International Corporation was upbeat that the results of the forum is making inroads in Cameroon but a lot has to be done to meet up with the expectations of participants. “It includes government facilitating their businesses at the level of the ports and the customs giving a push to their initiatives,” he added.

A close partner to the development of the Cameroonian business scene, the Commercial Service of the US Embassy in Yaounde, Cameroon has programmed another such forum, this time with at the AGOA spirit from April-May 2008 in Washington, USA. The organisers intend to make the local masses feel the impact or the fruits of the business men and women, who are the endpoint of the business operators.

Keywords: cameroon business investment