joint IMF/World Bank/African

Development Bank Mission visited

Cameroon from May 2 to 16, 2012

within the framework of consultations under

Article IV of the IMF’s Articles of Agreement.

This Mission aimed to assess the recent

performances of Cameroon’s economy and to

discuss short and medium term prospects.

As a balance sheet of this Mission, here is an

excerpt from the statement made by the Head

of Mission, Mr. Mario de Zamaroczy:

"Cameroon’s economic recovery continued after

the global crisis of 2008-2009, with a growth

rate estimated at 4.2% in 2011 and inflation

contained to less than 3%. Economic prospects

remain favorable and growth is expected to

reach 4.7% in 2012, mainly thanks to a sudden

increase in oil production and exports, increased

public investment in major infrastructure

projects, and initiatives undertaken to improve

productivity in agriculture. Inflation is expected

to remain moderate in 2012, notably due to

efforts made to increase the supply of food stuff

and to maintain fuel, electricity, and water

subsidies.

"In 2011 oil revenues were higher than

expected, overdue payment obligations have

been regularized and cash management has

become more flexible through the issuance of

securities. Current expenditure has however

exceeded the allocated budgets and new

balances have accumulated. Efforts have been

made to reinforce tax and customs

administration, improve public expenditure

management, and strengthen dialogue with the

private sector through the Cameroon Business

Forum.

"The 2012 budget is expected to benefit from

exceptional oil revenues generated by the

current high level of international prices.

"The Mission agreed with authorities that, to

release Cameroon’s growth potential, it is vital

to reduce obstacles to a higher and integrated

growth by continuing to address infrastructural

constraints, increasing the quality and efficiency

of public spending and improving governance

and the business climate. It is also important to

accelerate regional integration. The Mission is

comforted by the determination of

Cameroonian authorities to take necessary

measures to achieve these goals.

"The IMF Board is supposedly expected to

examine the report on the 2012 consultations

with Cameroon, under Article IV, in July 2012."

(Excerpt from the statement of the IMF / WB /AfDB Head of Mission in Yaounde.)

A

editoRiAl

N°0013 - MAY / JUNE 2012 - Publisher : Emmanuel Nganou Djoumessi

n dollar bills, Americans proclaim their faith

in God (IN GOD WE TRUST). On the contracts

they sign with Cameroon, development

partners proclaim their faith and renew their

confidence in Cameroon (IN CAMEROON WE TRUST).

Since the re-election of its President, Mr. Paul Biya,

Cameroon has, indeed, stood as a new attraction for

investors and other development promoters whose

commitments extend over several years.

During the month of March 2012, new cooperation

frameworks were validated in Yaounde between

Cameroon and UNDP (the Country Program Document

for the 2013 -2017 cycle); between Cameroon and the

United Nations System (the United Nations Framework

Plan for Development Assistance to Cameroon, UNDAF

2013 - 2017); between Cameroon and the United

Nations Fund for Population Activities (6th

cooperation program for the 2013 to 2017 period)

Prepared in a participatory and inclusive approach,

these documents include national development

priorities contained in the Growth and Employment

Strategy Paper (GESP) and aspire to contribute to

achieving the MDGs (Millennium Development Goals)

and other country development objectives.

Beyond their direct contribution, these instruments

act as advocacy elements among other technical and

financial partners with a view to optimally seize all

given development opportunities.

THE RUSH TO YAOUNDE

It is no coincidence that, in March-April-May 2012,

there was like a rush of investors at the gates of the

Unity Palace and ministries in Yaounde.

• Germans, with a visit to the Head of State of Mr.

Ernst Burgbacker, Parliamentary State Secretary with

the German Federal Minister of Economy and

Technology, at the head of a high-level delegation

composed of officials and company managers involved

in sectors such as renewable energy development,

fertilizer production, security, infrastructure;

• Americans, with the announced return of USAID in

Cameroon, after an audience granted to the United

States ambassador, Robert P. Jackson;

• Australians, with an audience granted to a

delegation of CAM IRON SA in charge of operating the

Mbalam iron ore project (East-Cameroon);

• Multilaterals, with a tête-à-tête granted to Mr.

Gregor Hans Binkert, World Bank Director of

Operations in Cameroon, whose audience with the

Head of State focused on the financing of the Lom-

Pangar dam and other structural projects;

• Canadians with the visit to MINEPAT of a delegation

of negotiators for an upcoming agreement for the

promotion and protection of investments between

Cameroon and Canada;

• The French, with the signing between MINEPAT and

France's ambassador, Bruno Gain, of three funding

agreements of more than 41 billion CFA Francs within

the framework of the second Debt Relief and

Development Contract (C2D);

• Tunisians, with the simultaneous holding in Yaounde

of a business forum, a Joint Commission between

Cameroon and Tunisia, and the second round of

negotiations for a preferential trade agreement to bind

Yaounde and Tunis.

This renewed confidence is proof of at least one thing:

Cameroon is rich in its potential; many investors from

all horizons are willing to transform this potential into

accomplishments, so as to give substance to the

Cameroon of Greater Accomplishments. / -

Desk

O

In cameroon we trustThe good points of

cameroon’s economy

Also in this editionPartnership for emergence ..............................................................................................................................................P.2

Interview with Vincent Bolloré : « We will increase our investments in Cameroon »......................................................P.3

Incentives to facilitate business creation ........................................................................................................................P.4

Letters to the editor ........................................................................................................................................................P.5

The head of state with MrAnas SERFRIOUI, presidentof ADDOHA (Morocco)

www.minepat.gov.cm

2 CAMEROON’S ECONOMIC NEWSLETTER - N°0013 / MAY - JUNE 2012

FoCUs

www.minepat.gov.cm

a) MINEPAT-Private Sector discussions

Yaounde, February 29, 2012. Facing the Minister of Economy,

Planning and Regional Development, Mr. Emmanuel Nganou

Djoumessi, accompanied by several members of

Government (Finance, Trade, SMEs, Agriculture and Rural

Development, Communication etc.), were several

representatives of the private sector (employer associations

and trade unions). On the agenda: discussions in a plenary

session and workshops. Theme of deliberations: "Together,

let’s accelerate growth". At the end of discussions, a number

of recommendations were made among which the

development of priority infrastructure (energy, roads,

railways and ports) to open up areas of production, the

development of alternative funding methods for the funding

of Greater Accomplishments, the securing of tax revenues

and broadening of the tax base by integrating the informal

sector, the development of specialized financial institutions

through the operationalization of structures already created

(Agricultural Bank, Bank for SMEs), the search for growth

opportunities through the promotion of the Wood, Cotton,

Palm Oil, Tourism, and ICT sectors... A monitoring committee

has been set up.

b) 3rd Session of the Cameroon Business Forum

Douala, March 5, 2012. The Cameroon Business Forum (CBF)

held its third session under the chairmanship of the Prime

Minister, Head of Government Mr. Philemon YANG. Theme

of deliberations: "Investing in a simplified business

environment". Participants coming from public

administrative services and the private sector, in the

presence of members of the Diplomatic Corps and

Cameroon’s development partners, adopted

recommendations relating to various domains of the

business regulatory environment, and which are likely to

contribute to the promotion of entrepreneurship in

Cameroon.

Regarding entrepreneurship: bringing simplification

procedures in line with the reviewed texts of the OHADA

Uniform Act;

Concerning the payment of taxes: finalizing regulation on the

reinvestment system contained in the 2007 Finance Law,

notably on custom duty rates. Other recommendations

relate to the strengthening of the mechanism to fight against

fraud, counterfeiting and smuggling through the

implementation of the secured stamp on certain

manufactured goods and the implementation of the

dematerialization program of the one stop shop for foreign

trade to promote cross border trade.

These two meetings between the public and the private

sector is proof of the determination of each and everyone

to dialogue, to combine energy and intellect for the effective

implementation of the growth and employment strategy.

From an appeal to join forces in order to accelerate growth to a commitment to invest in a simplified business environment: A review ofresolutions and recommendations ensuing from meetings held in Yaounde and Douala between the government of Cameroon and theprivate sector in February-March 2012 in view of placing Cameroon firmly on the trail of emergence.

PUBliC–PRiVAte seCtoR

Partnership for emergence

ndeed, by all scenarios, thecritical issue for Cameroonat this time of radical

reform lies greatly in the ability ofthe private sector, considered asthe engine of growth, to addressthe challenge of competitiveness,in view of achieving a certainnumber of macroeconomicobjectives, namely: a projectedgrowth rate of 5.5% over theperiod 2010-2020; the creation ofdecent salaried employment, theupgrading of local enterprises, andsupport for the competitiveness ofSMEs-SMIs. However, to fully playtheir role, private sectororganizations emphasize on twomajor conditions: improvement ofthe business climate andimprovement on key factors ofproduction such as infrastructureand energy. With regard to thesetwo priority areas, great progresscan be noticed. The State has notdelayed in responding to theserequirements.Regarding the businessenvironment, governmentmeasures have been taken to:

- Speed up the creation of SMEs-SMIs, by simplifying administrativeprocedures, including taxprocedures.- Reduce the mortality rate ofyoung businesses (less than 2years), through a set of measuressuch as human and technicalcapacity building and corporategovernance.- Promote technological choicesfavoring employment in favoriteareas such as building andconstruction, food industry, andtourism.As for basic infrastructure andenergy, the government haslaunched major projects known asstructuring projects: Kribi industrialand port complex, Lom Pangarstorage dam, Memve'elehydroelectric dam, Mekinhydroelectric dam... To preserveaccess to the SME and SMI market,the government intends, within theframework of these major projects,to systematize the reservation, infavor of local SMEs and SMIs, ofmarket shares representing at least30% of the overall cost of

investment. To enable SMEs toeffectively take advantage of thesenew market access opportunitiesthus created, the GESP hasprovided for the launching ofactivities of the subcontractingfund, which should encourage thegrouping of SMEs by sector. TheseSME associations will benefit fromgovernment support in their effortsto improve performance,competitiveness and governance.Concerning access to funding forSMEs, the government intends toprovide specific responses, notablywithin the framework of the ActionPlan for the Strengthening ofFinancial Intermediation inCameroon (PARIF). It is therefore cognizant of theissues and challenges facingCameroon’s economy that thegovernment and the private sectorwanted, through multipleconsultations, to adopt a businessupgrading policy centered on theimprovement of competitiveness,in view of achieving the objectivescontained in the country’s long-term development vision.

I

A strategic imperative

fter the fall in oilproduction, estimatedin 2011 at 12.6% as

compared to 2010, that is,23.3 million barrels, recoverymay come from offshoreexploration: in recent months,several production sharingcontracts were signedbetween the NationalHydrocarbons Corporation(SNH) and multinational oilcompanies for thedevelopment of new blocksoffshore. The last contract ofthis kind is that of last Januarybetween the NationalHydrocarbons Corporation andKosmos Energy Cameroon HC,covering an area of 1.2 km2. Inthe offshore fields of Dissoni inRio del Rey, Baf in the Kribi-Campo area or in theMokoko-Abana area (AddaxPetroleum Cameroon) severaloil wells are being drilled withthe objective of stabilizingproduction as from this yearfor a raise up next year. On theother hand, Yan Chang LogoneDevelopment HoldingCompany, a Chinese firmoperating the Zina-Makaryblock in the Logone BirniBasin, Far North region ofCameroon, discovered a greatpotential in an onshore basinin the North region of thecountry. "These results fromthe first exploration wells inLogone Birni Basin are asuccess for hydrocarbonexploration in the Northernpart of Cameroon’s miningarea, said Adolphe Moudiki,General Manager of theNational HydrocarbonsCorporation, in a release.These results are encouragingat a moment when theCameroon government ismaking all efforts to increasedomestic oil production. Weremain motivated, but arehowever waiting for the teststo confirm this discovery andespecially to clarify us on itscommercial nature through anassessment program toestablish later". Theexploitation of this adjacentdeposit to the Chadian andNigerian oil slicks is expectedto give an upward trend todomestic oil production.

A

Towards an increasein oil production

The Growth and Employment Strategy Paper (GESP) presents the private sector as an engine of Cameroon’seconomic development. Frequent public-private sector consultations are a major option in the implementation of thecountry’s new socio-economic ambitions.

3CAMEROON’S ECONOMIC NEWSLETTER - N°0013 / MAY - JUNE 2012

inteRView with …

www.minepat.gov.cm

MAjOR PROjECTS• Kribi Deep Sea Port: Construction Work in Progress17 per cent representing about 247m out of 1355m ofthe sea wall have already been erected. This work waspossible thanks to the thousands of tonnes of rockmaterial extracted from the Eboundja quarry whichhas been operating since January. The staff quartersfor China Harbour Engineering Company (CHEC) arealready completed. 320 persons including 120 Chineseare already settled. Thus, several preliminary elementshave been completed. We can cite land and maritimeexcavation, preliminary design works, and the concreteplant which will produce inputs for the protection ofthe sea wall.

AGRICUlTURE• Project for the integrated development of cottonand food crops in CameroonThe Islamic Development Bank (IDB) granted an 11.390million euros loan to Cameroon representing CFA7.411 billion in April 2012 for the funding of the projectfor the development of cotton and food crops inNorthern Cameroon. The project seeks to improve theincome of farmers in the Northern region and secureemployment opportunities generated by the cottonindustry while enhancing food security. The CottonDevelopment Corporation (SODECOTON) will beresponsible for the execution of the three componentsof this project. This project will help not only to support agriculturalresearch and farmers with emphasis on theconstruction of an entomology laboratory and theacquisition of cotton sowers for farmers, but equally

facilitate cotton gear through the setting up of anindustrial plant and develop food crops (millet,sorghum, groundnut, etc.). This last componentincludes support to the maintenance of rural roads andthe supply of improved seeds to producers in cottonareas and peasant organisations.

COOPERATION• Cameroon-BelgiumCFAF 8 billion for the funding of phase IV of therehabilitation project Cameroon (MINEPAT, MINEE)and Belgium (Dexia Bank) on 16 March 2012 signed aloan agreement worth 12 million euro representingapproximately CFA F 8 billion for the funding of phaseIV of the project on the rehabilitation, reinforcementand extension of potable water supply systems inCameroon. This loan will help improve on the livingconditions of populations in the localities of Kribi,Mbouda, Foumbot, Mfou, Belabo, Bamenda,Messondo, Maroua-University, Kaele through theincrease of potable water provision and the control ofwater-borne diseases.

GOUVERNANCE• Electronic payment of customs duties goesoperational A memorandum of understanding was signed last April2012 between the Ministry of Finance and the 13major banks in Cameroon. This memorandum ofunderstanding aims to: reduce the time frame forclearance of goods at customs posts, encourage thebetter management of State finances, secure financialtransactions by reducing the circulation of physical

cash, and decongest the one-stop shop for foreigntrade. These are some of the solutions envisaged bythe Memorandum of Understanding between theMinistry of Finance and the 13 banks in Cameroon. Thedocuments signed by different stakeholders alsoestablished the electronic payment system at Customscounters.Concretely, economic operators will now have to paytheir customs duties by bank transfer. According toPascal Rebillard, president of the association of bankprofessionals in Cameroon (APECAM), this is aninnovation in the sector. "Once the business operatorcompletes his transaction at the bank, he is issued areceipt to present at the customs clearance counter"he said. In the opinion of Alamine Ousmane Mey,Minister of Finance, the Memorandum ofUnderstanding is proof of government's determinationto improve the business climate and reorganize publicfinances, as recommended by the Cameroon BusinessForum. "The money collected by the banks istransferred to the public treasury the day following thetransaction" the Minister said before adding that it isthe 20% of the customs revenue, up till now collectedin cash, that is concerned by this memorandum.Actually, as Mr. Rebillard explained, only companiesare, for now concerned by this new method ofpayment. "Individuals will do so later on" he said. Butbankers are already pleased to announce that they didnot wait for the protocol phase to launch this methodof payment. Indeed, as Mr. Rebillard said during thelast Cameroon Business Forum, the Prime Minister,Head of Government, was able to test out thefunctionality of this payment method in all banks.

« We will increase our investments in Cameroon »

Vincent Bolloré

MeMo

The captain of industry, whose group is present in close to 130 countries with 35,000 employees, last May 14, announced a significant increase in itsinvestment in Cameroon, in port and railway infrastructure, and in renewable energy.

What is thepurpose ofthe audiencethe Head ofState grantedto you?

Dominique Lafontand I came to talkabout economicdevelopments andemployment. Ourgroup is establishedin Cameroon for avery long time now,about fifty years.We are currentlyemploying about7,000 people inCameroon. We are one of the leadingemployers. Obviously, our ambition is tocontinue, and even to intensify ourdevelopment in Cameroon. You should knowthat this year and next year we will invest morethan fifty billion CFA francs in logistics. Werecruit about 400 youths and in addition wehave close to 300 trainees per year. These arefigures of a group that has 190 years ofexistence and that has placed its hopes in Africaand therefore in Cameroon for many decades.In our projects today, we have the developmentof the current port through its ContainerTerminal, the development of the Kribi Portbecause we believe that port opportunities are

substantial. And then we have thedevelopment of CAMRAIL. DominiqueLafont and I, this morning, visited theYaounde railway station that wasrenovated and that gave me a goodimpression. I'll visit that of Douala soon.We also have projects for the railway,which consist both in extending therailway to other countries and enablingthe transportation of passengers andgoods via Cameroon. And then we have aspeed train project between Douala andYaounde with rail liners that could takethree hours. We need to maintain thethree hours, it is very important. It wouldhelp decongest the roads and reducetraffic jams.And then I talked to the President of a

new project that I have, since the BolloréGroup, in addition to its developments inlogistics and transport, is today one of theleading groups in new energy sources andnotably in solar energy. We are the ones chosento launch Auto-lib in Paris. We have 2000 noise-free and odorless vehicles, moving in town. Andthese vehicles are powered by electric batteriesthat help capture solar and wind energy. And Iwould like to launch, at our expenses of course,a project in Cameroon with a solar farm,batteries and houses that would be providedwith electricity without resorting to fossilenergy. Although Cameroon is a major oilproducer, we have to be concerned about the

future.Those are development projects andemployment projects. Cameroon is a countrythat we like on the whole, first because of itspolitical stability, and then because of theexpertise and exceptional quality ofCameroonians. And as I told you, we have beenhere for decades. It's been thirty years since Iam managing this group in Cameroon. It hasbeen joy all over. We have 7,000 people rightnow. We have to move up to 10,000 people inthe next five years. So we have to recruit andcreate new activities.

What was the reaction of the Headof State and what is the time framefor the implementation of theseprojects?

The Head of State remains concerned abouteconomic and employment problems. And he isa man who considers the loyalty of investors.He knows that we are not just a friend of thegood days. We are here, whatever thecircumstances. For over thirty years, we havespared no effort and, of course, everyone iseager to succeed. As for the Douala-Yaoundeconnection, we have given ourselves a year todo it. The development of ports will also beimplemented as soon as possible. Regardingthe solar farms, I think in 16-18 months I willhave the opportunity to come and conduct afirst test and take advantage of this wealth of asun you have.

Payment and settlement systems

In order to facilitate the payment system,

the Bank of Central African States (BEAC)

helped six Member States to get an efficient

and secured regional system for payment

and settlement that complies with

international standards.

A- Regulation of exchange

The minister of Finance ensures the smooth

application and dissemination of the

provisions of the regulation on exchange in

force in Cameroon since 2004. This

regulation rescinds most of authorisations

and administrative visas once required

within the framework of short and long

term movement of capital.

B- Funding of projects by banks

About 40 per cent of SMEs request bank

support to fund their projects. There are

financial establishments and leasing

companies that finance the acquisition of

professional capital goods. Medium and

long term loans are funded by national and

international banks as well as funding

agencies.

C- legal governance

Ministers of Justice from 14 Member States

of the Organisation for the Harmonisation of

Business Law in Africa (OHADA) adopted in

April 1997, series of instruments that laid

down the bases for a modernised economic

law common to countries of the West

African Economic and Monetary Union

(UEMOA) and the Central African Economic

and Monetary Community (CEMAC). These

new instruments introduced in-depth

changes into the business landscape by

advocating the liberalization of economic

activities with solid legal guarantees.

D- Conflict of law rules

National tribunals (High Court and Court of

Appeal) and the Common Court of Justice

and Arbitration (CCJA). At national level,

conflicts are settled in courts of first

instance and appeal courts. The Common

Court of Justice and Arbitration (CCJA)

created within the framework of the OHADA

Treaty examines conflicts in the last resort.

Its decisions are final and binding and serve

as jurisprudence in the OHADA space.

4 CAMEROON’S ECONOMIC NEWSLETTER - N°0013 / MAY - JUNE 2012

BUsiness CliMAte

www.minepat.gov.cm

Incentives to facilitate business creationCameroon has identified a series of measures in order to improve its attractiveness. Some of these measures havealready been implemented while others have been scheduled in the medium term. The second series of facilitationmeasures are published in this edition.

Publisher

Emmanuel NGANOU DJOUMESSI

Advise editorial staff

Yaouba ABDOULAYE

Editorial committee

Paul TASONG, Joseph TEDOU, Dieudonné BONDOMA

YOKONO, Blaise ESSOMBA NGOULA, Janvier OUM

OLOMA

Managing editor

Christian ABOLO MBITA

Chief editor

Jean ATANGANA

Editorial office

Emmanuel YENGA

Translation

Diane Edzougou, Vincent Chefor

Redaction

Jean ATANGANA, Emmanuel YENGA, Engelbert MBOA,

Augustine NGO NYUNG KANNA, Anne Lyselotte

KOANKO, BARAN Dorothée Arlette Blanche, MBOU’OU

Jocelyne Marthe.

The CEN is available in electronic and paper versions

Cameroon’s economic newsletter

is the bimonthly publication of the Ministry of Economy,

Planning and Regional Development of the Republic of

Cameroon (MINEPAT)

Po.Box. : 660 Yaoundé / Cameroon

Tél : (+237) 22 22 09 22 - Fax : (+237) 22 23 65 07

GENERAl INFORMATION

Official name : Republic of Cameroon

Surface area : 475,442 km²

Population: 19,406,100 inhabitants (with 64

per cent under 25 years)

Political capital : Yaounde,

Economic capital: Douala

Main cities : Douala, Yaoundé, Garoua,

Maroua, Bafoussam, Bamenda, Limbe,

Bertoua, N’Gaoundéré, Nkongsamba, Edéa,

Ebolowa, Buea, Kribi.

Official languages: French and English

Currency : CFAF Franc (100 CFA franc = 0.15

euros)

Time zone and time difference: GMT + 1 hour

Telephone code: 237

Investing in a free zone in Cameroon

The entire country has been erected into a

Free zone. Information on establishment

requirements is available online at

www.onzfi.org.

BoX

ince 2009, the Government isimplementing reforms to facilitatebusiness activities. Results have

been achieved including the reduction ofthe timeframe for creating a business andobtaining building permits, and thesimplification of tax payment processes.These measures have been possible underthe public-private dialogue platform. Also,laws on e-commerce and leasing have beenratified. Accordingly, Cameroon hasimproved its position in the 2012 DoingBusiness ranking. The country won 7 seats,occupying the 161st position in the globalrankings. In the 2011-2012 report of theGlobal Economic Forum onCompetitiveness, Cameroon, with a score of3.61 occupies the 116th position in theworld among 142 countries. It is ranked17th out of 34 African countries. Cameroon

has improved its ranking as concerns thenumber of procedures for starting abusiness. However, efforts should be maderegarding the fight against corruption,infrastructure development, the financialand technological market, and theregulation of internal trade. To improve onthe business environment, several projectsare planned in the short and medium term.These include: (i) the establishment of asingle geodesic network and thedevelopment of cadastral plans that willcontribute to securing of landed property;(ii) the reduction of timeframes forconnection to the electrical network; (iii)the extension to Divisional Chief towns ofthe one-stop shops for the facilitation ofland transactions; (iv) the implementationof e-filing; (v) continuation of theimplementation of judicial system reform.

S

A constantly improving business environment

5 CAMEROON’S ECONOMIC NEWSLETTER - N°0013 / MAY - JUNE 2012

www.minepat.info

Ladies/gentlemen,

Thank you for sending me thisgreat document. I want to believethat this will be a constant endea-vour. In fact, I am the manager ofthe Fojeno International Consul-ting firm which is specializedamongst others, in the Studies ofprojects, investment strategiesand resources; Drawing up of Mu-nicipal Development Plans; Tech-nical design of agro-pastoralprojects; Monitoring/evaluation;Social impact assessment of de-velopment aid projects; Marketsurveys; Internal/external audit;along with training in these fields.Have a nice day!

Mr. FOCHIVE Jean NoelExpert in development project

engineeringFounder of FOJENO

INTERNATIONAL CONSULTINGP. O. Box: 8299

Yaounde - CameroonCell phone: 96 04 22 40

Mr. Emmanuel Nganou Djoumessi, Minister of Economy, Planning and Regional Development

Good morning, I hereby invite you, as well as the Cameroonian business community, to participate inthe 17th edition of the FUTURALLIA Forum that will take place at Lille, France from 27 to29 June 2012. This event will be an occasion for the business community to meet, buildsustainable partnership contacts, seek investors and promote their activities. I am the President of the International Chamber for Consulting and Promotion (CICP).

Dear friends of the Cameroonian economy,I don’t know how I appeared in your mailing list, neither do I know who forwarded thisnewsletter to me; however, it did remind me of a great deal of things. Fifty years ago (Iam old now!) I took the personal challenge of climbing Mount Cameroon alone, duringa full moon night. I still have in mind that wonderful experience. Ever since, I have neverreturned to Cameroon.I had an international career in education, mainly in the spatial field, which was crow-ned by my appointment as Chair of the Education Committee of the International Aero-nautic Federation; a career that was built on the spirit of service, service of the people,service of humanity. Over the years, I became a specialist in project conduct training.There is a strong appeal in your editorial, « entering into the first stage of our longmarch towards emergence”. If you are interested, I may bring my modest but significantcontribution by organising training sessions in the conduct of projects for trainers in Ca-meroon. Leverage effect guaranteed.Regards,

Guy Pignolet

letteRs to the editoR

The editorial board of Cameroon’s Economic Newsletter (CEN) is thanking its increasing number of readers whoturn in feedback on their reading. Some of your letters are reproduced here for their relevance and our obligationto share with the CEN readers club. Enjoy your reading.

Invitation to the 17th edition of Futurallia, Business partnership forum, 27, 28 & 29 June at Lille

gReAteR ACCoMPlishMents

Contruction of the Kribi deep sea port’s seawall

even months after the official laying of the foundation stone of theKribi deep seaport construction project, work is in progress on theMboro site, about thirty kilometers from Kribi. The domestic site is

completed and is already welcoming workers. As concerns the dam, workprogress is more visible: 350 m have been covered on the sea, on the final1,355 m that should be realized. About 400,000 m3 of rocky materials havealready been produced on the construction site.

S

Spotlight