Cameroon’s Interim Minister of Mines and Industries, Fuh Calistus Gentry, wants the CDC to be transforming 70% of its products.
Minister Calistus said during a working visit to the Southwest Region over the weekend.
The Cameroon Development Corporation (CDC) produces rubber, banana, palmnut, and cassava.
CDC exports its cash crops, like rubber, to other countries for transformation into finished products.
So, the minister has set an example by commissioning the first-ever tyre manufacturing factory in Tiko, South West Cameroon.
To him, it is part of government’s drive to ensure each municipality has a factory. “That is where jobs are created, where wealth is developed,” he said.
Though with the policy of one municipality, one factory, he said, some “municipalities, regions would have more capacity to expatiate.”.
The essence of this policy is to create jobs for youths in every municipality, he said.
CDC Producing Cassava
CDC, a few years ago, started producing cassava, which is a short-term product unlike rubber, palmnut, and banana. The Southwest Region, where CDC is based, has one of the fertile grounds for cassava cultivation.
The tyre factory, which has come close to the raw material. So CDC could also set up a cassava processing factory like its oil mill in Limbe. Through that, cassava can be turned into flour, which will, in turn, reduce the dependency on imported wheat.
Cameroon Mining, Industrial Sector
Last year, Trading Economics, an online data site, reported an increase in industries in Cameroon at 32.29 percent. The areas that contributed most are manufacturing, mining, and utilities.
Despite growth in the mining and manufacturing sector, Cameroon’s economy in 2023 slowed down.
However, projections have indicated that Cameroon will have an increase in growth of 3.9% and 5.5% in 2025.
The IMF and World Bank last week congratulated Cameroon for strides taken to revamp the economy.
