Investment Attraction Incameroon: Why put the cart before the horse?

Very little direct foreign investment comes to Cameroon

The Yaounde authorities are certainly not indifferent to the pressing need to attract foreign investors to Cameroon. Even as we write this there is a week-long ‘Africa International Economic Forum’ taking place in Yaounde. The Prime Minister only last week led a government delegation to a Commonwealth investment forum in London.

Organising or attending these events have become part of the process of government in Yaounde. But what results do they obtain from these activities, expensive as they are?

On this point the GM of an important public company told CRTV television last March, to explain the importance of another Commonwealth investment forum in Cameroon that not a single investor had come to Cameroon since an earlier forum a year and a half earlier.

It is well known that very little direct foreign investment comes to Paul Biya’s country. Happily the reason is not far to fetch.

The World Bank and GICAM have repeatedly told the government with facts and numbers that Cameroon’s business climate is not the least attractive.

To obtain a business licence, for instance, it takes 426 days to complete 15 different procedures! The courts are not independent.

Given such a prohibitive environment how does the government believe it can attract good business? Wouldn’t they consider clearing up the mess within before trying to attract anyone here?

We believe working to create a much better and enabling environment is the first thing to worry about. The rest can only come after.