Cameroon: Investors Briefed On Potentials


  1. By Walter Wilson Nana
    The Chancellor of the University Institute of the Diocese of Buea, UIDB, Mgr. Immanuel Bushu and “Friends of Platinum Building Technology Cameroon”, FPBTC, are working hand-in-glove to bring in investment opportunities worth FCFA 10 billion.
    This is the kernel of a business banquet held by Bishop Bushu, of the Buea Diocese, officials of FPBTC and an international trade delegation from the USA, Canada and India, recently at the Buea Chariot Hotel, in the Southwest Region of Cameroon.
    In the discussions, the CEO of FPBTC, Rev. Fr. George Nkeze said his association is out to translate into reality a vision formulated by the Chancellor of UIDB, which is to create a university student, who is a job creator and not a job seeker. “We wish to emphasise in the Cameroonian society the spirit of entrepreneurial development. We are out to introduce a structure whereby our students will be in school and simultaneously get the industrial and research skills before they graduate.”
    According to Fr. Nkeze, they wish to begin this new twist at UIDB with the introduction of new trends in the housing and solar technologies. “The platinum building technology is our first step. Housing is a critical step in growth. This will be followed by solar energy. A student who has a good house, made in a simple model; air-conditioned, enough power, internet-connected, studies well, then, there is room for good thinking. And by the time our students graduate, they have picked up those skills, which will enable them manufacture their own solar energy and housing systems,” he explained.
    Fr. Nkeze said the entrepreneurial programme defined by the government of Cameroon is what they want to put on the ground.
    He expressed optimism that the UIDB Chancellor is working hard with some investors to ensure that action match words come October 2011 for the projects worth FCFA 10 billion.
    To the students of UIDB, Fr. Nkeze invited them to be open-minded, creative and be ready for the new challenges and opportunities on their way with the new investments. “We are out to enable the students identify the difficulties in their community and work towards them, thanks to the presence of the investors,” he added.
    Corroborating the FPBTC chair, Mgr. Bushu said Cameroon must get on together with the world in terms of technological development. He invited Cameroonians and the investors to get to work and explore all the capacities and capabilities present within Cameroon.
    The Bishop of Buea defined the partnership between the trade delegation and UIDB as that of sowing a seed, adding that their coming is a blessing to Cameroon, with the objective to make Cameroonians happy.
    Inspired by the Bible, the Prelate said the investors and Cameroonians will be working for the benefit of Cameroon, which is part of managing God’s wealth in the world in His name. “The basic thing is to give tertiary education to some young people, who could not because of inadequate space in some of our state universities. With the quality we are introducing, our graduates should be able to fend for themselves after school, instead of waiting for the state as we generally do now to give them employment,” he mentioned.
    Head of the Indian delegation, Kunal Chandra, specialised in Solar energy, said energy is a necessity for growth in Cameroon and theirs is technology driven. A reassuring Chandra noted in the discussions they will not be offering Cameroon a substandard technology, saying they have garnered experiences after successful operations in Japan, USA, Europe and other parts of the world.

    Chandra mentioned that their company Twincity Sunlife, will transfer knowledge in UIDB and encourage income generation through their operations in Cameroon. “Our technology is not only new but cutting edge. We are not coming to Cameroon to tell you what you need, but for Cameroonians to tell us what they need,” he said. The Indian investor found in their opportunity to come to Cameroon a leeway to add value to Cameroon’s economy and make solar power a great solution. The students of UIDB must understand the concept of solar energy,” he promised.

    From Genesis Production Services, Barry Keith Webb said they are bringing to Cameroon an American Building and Construction company, which has being existing for ten years, while highlighting that their operations speak for itself and ten times stronger than any of their competitors. “Our products are relevant for tropical climates like that of Cameroon,” he added.

    Still from the USA, Cameroonian-born Victor Anjeh, Legal Consultant at Nano Ventures Group said it is time to move minds and make Cameroon a knowledge-based economy. This, to him can only be achieved through those who can think outside of the box. He invited UIDB to be prepared for value proposition, which is making the institution different from other universities by their ability to acquire the transfer of technology. Anjeh challenged Cameroonians and the investors to make a difference.

    Earlier, Nicholas Achiri, Banker and Adviser to investors briefed the international trade delegation on Cameroon’s political, economic and social outlook, saying Cameroon is politically stable but is a country that has engaged in a fight against corruption dubbed “Operation Sparrow Hawk”. He saw in Cameroon a credible government, which raised FCFA 200 billion in 2010 and is about to raise FCFA 300 billion in the course of 2011.

    Achiri told the investors that Cameroon’s economy is on the progress lane, citing some tangible indicators and major economic and development projects, which are currently on going in the country. Some of these, he enumerated; the increase in the capacity of the national oil refinery, SONARA, the resumption of timber exploitation, the take off of the national airliner, CAMAIR-CO on March 28 2011, the Limbe Deep Sea Port Project, the gas plant in Kribi, a four lane road for Yaoundé – Douala highway, a new bridge over river wouri, a dynamic banking environment with thirteen commercial banks, huge potentials in the insurance market, the imminent recruitment of 25,000 graduates, which will boost productivity and more.

    Before the Buea meeting, the Chancellor of UIDB, officials of FPBTC and the investors met the Prime Minister of Cameroon, Philemon Yang, top officials of the Ministries of Energy and Higher Education respectively, to explain their vision.


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