By NDUMBE BELL GASTON
Some experts who participated at the 2nd edition of the International Investment Forum organised by the Chamber of Commerce in Douala challenged a cross section of Cameroonian economic operators to shun dishonesty and corruption, for good ethical proceedings in order to be accepted at the international level and improve the business climate domestically.
The forum that began on Tuesday, October 8 and closed on Wednesday October 9, 2019, had as main objective to bring together foreign and Cameroonian investors, financial providers, public and private partners, to share knowledge on investment opportunities through B2B meetings and realise possible deals so as to assist government’s development efforts.
According to the Minister of Mines, Industry and Technological Development, Gabriel Dodo Ndoke, Cameroon has now become a huge construction site with all types of development projects from energy to sports.
45 projects in the pipeline that needed financing were presented by their developers for further discussions with interested financial providers. The projects were in the domain of agro-industry, petroleum refining, mineral exploitation, water, health, transport, pharmaceutical industry among others, estimated at a total of 1,300 billion francs or roughly USD 200 000 000 according to official reports.
Talks on the need to improve the business climate, guarantee the risks of investments, public-private partnerships and local financial structures were presented by experts in the banking sector, specialised business organisations in big and SMEs and the opportunities available for foreign investors in Cameroon. One case in point was auto-critical, where one expert asked why the African continent can be so rich and yet so poor.
Internationally reputed lawyer, Barrister Ntumfor Nico Halle frankly told economic operators to desist from corruption in order to attract foreign investors because it is not only the opportunities that attract investments but also good business practices. “Without good business practice, the investors will find greener pastures elsewhere.” Nico Halle illustrated the ills of corruption to show that there is need for us to change our mindsets. He then suggested that before entering into partnerships, certain criteria are a necessary prerequisite, so as to know how credible a partner is or his or her track record. “Corruption is one of the reasons that makes Africa the least developed even though the richest. Instead of begging, we must be giving” he suggested.
The President of the Chamber who signed a Memorandum of Understanding (MoU) with the Ambassador of the Republic of Guinea on Wednesday, October 9 hailed the Ambassador for coming to improve bilateral relations between the two countries. In his closing remarks, Honourable Eken was happy to remark that 80% of the economic operators were of the younger generation. He urged economic operators to join associations, create synergies and cooperatives to operate in the formal sector. To financial providers, he said that the Chamber is there to link up partners, so banks and others should seize such opportunities to create partnerships. Also present was the Governor of the Littoral Region Ivaha Diboua, the representative of the APME, the Secretary General of the Chamber, staff and other close collaborators.