(Business in Cameroon) – The Cameroonian Minister of Trade, Luc Atangana, received Qatar’s Ambassador to Cameroon on June 14, 2023. The Middle-Eastern official expressed his country’s interest in boosting commercial and economic cooperation with Cameroon. “We plan to come to this large market located in the heart of Central Africa. (…) We appreciate the unique nature of the Cameroonian market in the sub-region,” he declared.
The two men talked about the possibility of setting up a common business platform between the two countries.“We can collaborate with this platform, which opens a door for our businessmen. We are well-equipped in terms of banking and finance. Starting tomorrow, I will inform our company executives about the investment opportunities that Cameroon offers,” the Qatari said after the meeting.
The visit of the Abuja-based Qatari takes place a few months after a delegation of Qatari and Emirati investors came to Cameroon. The investors met with Louis Paul Motaze, the Minister of Finance. On the occasion, they mentioned their interest in investing in the country, in the mining, agriculture, textiles, and industry sectors specifically.
For now, economic cooperation between Cameroon and Qatar remains stagnant. However, this Gulf emirate recently made a direct investment in Cameroon. Indeed, in early 2021, Kasada Capital Management, an investment vehicle dedicated to the sub-Saharan Africa hospitality sector and controlled by the Qatari group Katara Hospitality, announced the purchase of a group of eight hotels in Cameroon, Côte d’Ivoire, and Senegal from the Accor group. Also, the Ibis Hotel of Douala, Cameroon’s economic capital, is involved in this transaction, which is Qatar’s very first investment in the country.
Source: Business Inc Cameroon