Although doing business in Cameroon is not as easy, there are still fertile grounds which are highly un exploited that can yield many fruits. Doing business in Cameroon came up with the 5 top Cameroon’s untapped business opportunities as listed below.
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5 TOP CAMEROON’S UNTAPPED BUSINESS OPPORTUNITIES
1) Agriculture and food production
Cameroon has immense agricultural potential and is already a world-leading producer of cocoa. Other significant crops include coffee, bananas, palm oil, cotton, rubber and cassava. However, the vast majority of farmers are smallholders, and there are opportunities for large-scale commercial operators to increase agricultural yields through modern processes.
2) Oil and gas
Cameroon is the sixth largest oil producer in sub-Saharan Africa and the country sits on five sedimentary basins, providing significant opportunities for exploration companies. There is potential to build a downstream oil and gas base and set up petrochemical plants for urea, ammonia, methanol, fertiliser and liquefied natural gas (LNG), as well as establishing electricity generation facilities. “These are very bankable projects that ensure great returns and stand to create more jobs in the country,” “There is a huge need for power in order to meet government’s industrialisation goals. Furthermore, new projects coming up – like the floating LNG project by Golar and Perenco – present huge opportunities for service companies in the country.”
3) Hospitality and tourism
Cameroon has rich cultural heritage sites with terrain that ranges from tropical along the coast to semi-arid in the north. It is often described as ‘Africa in miniature’ due to an array of cultures, climates and terrains. Its wildlife also offers opportunities for safaris and big-game hunting. However, Cameroon’s tourism potential is largely unexploited and there are prospects for local entrepreneurs to develop businesses such as tour and transport services. In addition, there is also a need to build quality boutique hotels to cater to foreign travellers and tourists. “So there is actually a lot more that can be done to boost the tourism sector.”
4) Affordable housing / Real Estate
There has been no real effort to build low-cost housing [on a large scale] in Cameroon… for low income and [emerging] middle-class families and not just projects for high-net-worth individuals. While the demand for low-cost housing is vast, these type of projects require innovative entrepreneurs who can work with banks and construction services to develop unique solutions.
5) Formal retail, fast-food chains and entertainment
An estimated 98% of Cameroonians shop at traditional or informal markets, and can buy products at wholesale prices at large open-air markets in major cities – such as Douala’s Marché Mboppi. There are few formal retail chains, although French supermarket group, Carrefour, plans to expand in the market.
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