Tunisia Africa Business Meetings: Unlocking Cameroon's Investment Opportunities
During the 2nd day of the 3rd edition of Tunisia Africa Business Meetings, international expert Raouf Jaoua shared a set of strategic information for investors interested in the Cameroonian market.
According to Jaoua's presented data, Cameroon's imports in 2023 totaled $8.4 billion, highlighting several key sectors:
- Vehicles: $570 million
- Cereals: $478 million
- Miscellaneous articles: $380 million
- Iron and steel products: $337 million
- Pharmaceuticals: $260 million
- Real estate: $202 million
These figures demonstrate not only the diversity but also the scope of commercial opportunities available to investors seeking to penetrate the Cameroonian market.
Promising Investment Opportunities
Jaoua highlighted several sectors offering particularly attractive prospects for investors:
- Automotive: A Cameroonian operator plans to introduce Russian manufacturing and then launch local production for the Cameroonian and Central African markets.
- Cereals: There is significant potential for substituting rice and wheat imports with local crops such as cassava, offering opportunities for local agriculture.
- Packaging products: Growing demand for packaging, often imported from China, opens the door to investments in local production.
- Pharmaceuticals: With a market estimated at $260 million and supported by the African Intellectual Property Organization (OAPI), this sector presents promising growth potential.
Developing Local Industry
Regarding industrial development, Jaoua drew parallels with the successful evolution of Tunisia's textile industry, suggesting the possibility of replicating this success in Cameroon. Furthermore, he identified untapped potential in creating a shoe industry, encouraging the training and employment of local artisans.