Cameroon-based company Cimencam has officially announced that its newly established factory in Figuil, located in the North Region of Cameroon, is set to commence operations in January 2024.
As anticipation surrounds the inauguration of the new factory, questions arise about whether the increased production capacity will lead to a subsidy in the soaring price of cement.
According to reports, Cimencam’s production is expected to surge by approximately 500,000 metric tonnes per year, reaching a total of 2.3 million metric tonnes. This revelation came during an audience with Cameroon’s Minister of Commerce, Luc Magloire Mbarga Atangana, on November 7, 2023.
Over the past few years, the price of cement has experienced a significant hike. Approximately five years ago, a bag of 42.5 R-grade was priced at 4500 FCFA, while a bag of 32.5 R-grade was sold at 4000 FCFA.
“Currently, a 32.5 R-grade is sold at 4500 FCFA, while a 42.5 R-grade is sold at 5500 FCFA,” noted a builder based in Buea.
In November 2022, the Cameroon government, through the Ministry of Commerce, announced a reduction in the price of bagged cement in response to the country’s expanding cement production capacity. Consequently, the price of a bag of 42.5 R-grade cement decreased from XAF 5100 to XAF 4800 (US$7.26) in Douala and from XAF 5400 to XAF 5100 in Yaoundé.
Regarding 32.5 R-grade cement, the price was slated to drop from XAF 4600 to XAF 4100 in Douala and from XAF 4900 to XAF 4400 in Yaoundé.
Employment Opportunities
The establishment of the new Cimencam factory is expected to generate employment opportunities for numerous Cameroonian youths.
Reports suggest that the new facility could potentially employ close to 1,000 young Cameroonians, thereby addressing the issue of unemployment in the locality.
