BY NDUMBE BELL GASTON IN DOUALA
The Chamber of Commerce has benefitted from the financing of the Minister of the Economy, planning and Territorial Administration Louis Paul Motaze, to the tune of over FCFA 1 billion francs to support the advancement of three major projects that were initiated and are still on going in the national territory.
The revelation was made during the signing ceremony of the three financial agreements on Wednesday February 21 at the precincts of the Chamber’s headquarters in the presence of a cross-section of economic operators, the honorary consul of India who has stakes in the pilot project, and many other dignitaries.
The right Honourable Christophe Eken the President of the Chamber of Commerce, tabled and outlined the objectives and longer-term goals of the projects.
He expressed gratitude to the Minister for having allocated FCFA 750 million for the pilot incubation Centre in Bonaberi started in 2008, now rebaptised as the Food Processing Business Incubation Centre in its second phase, after the signing of a financial commitment with the Indians.
The project is aimed at capacitating youth potentials especially in the transformation of locally produced raw materials such as cassava, to create jobs through second generation agricultural arrangement and to boost entrepreneurial spirit.
The second project that drew the attention of MINEPAT to pump in CFA 150 million is known as the Professional Resource Centre in Maroua for the production of leather-based products like shoes and other artisanal derivatives.
The project is to improve the expertise and managerial acumen of the sector and render more accessibility to the needed equipment and material inputs.
The centre was created in 2011, to improve the quality produced and to provide the consumers with higher standards of products.
The President of the Chamber of Commerce presented the Centre for Arbitration and Mediation as the third project.
This is an alternative method for enterprises at loggerheads to iron out their differences before crossing the red line into dissolution.
It presents a forum for out of court settlement which avoids burdensome financial involvement and unnecessary delays.
The existence of an arbitration centre, they hope, will influence respect of norms or ethics, fair play and good business practices among businessmen.
Minepat allocated another FCFA 150 million francs to encourage the provision of the wherewithal.
The Minister of the Economy reiterated his support for these and future initiatives to advance public-private partnerships and advised that whenever these projects reach maturity, they should not be solely dependent on public financing, but canvass for alternative financing through the banks, which the ministry even helped to create.