Agribusiness, the hidden gold mine!

Industrial farming is seemingly one of the sectors that if well exploited can change the face of the economy.

They are young, old, poor and rich, that have returned to the land; a trend that is closely linked to the upsurge in the demand. Agriculture in Cameroon hitherto considered as a thing of a class of people has won the hearts of many, even those in airconditioned offices.

Going industrial is however the challenge, as it comes with huge investment in terms of financing and space.

The just-ended Yaounde International Economic Forum was once more an opener for investors to embrace industrial farming as a way of supporting the country meet its middle-income economy dream by 2035.

Four projects submitted during workshops on Soybean processing, palm and coacoa production, creation of a professional marine culture plant and the installation of three industrial units for the cultivation, production, packaging and processing of cassava tell of the country’s commitment to turn tides in the sector.

Success Story

Cameroon’s 68-year-old Nana Bouba, has built an empire in the manufacturing and distribution of tomato paste, household soaps, soft drinks and mineral water. The award winner is one of Cameroon’s finest agriculture industrialists that have caught the attention of government and individuals wishing to embark on self empowerment and development.

The business guru’s holding, NBG that claimed a business turn-over of over FCFA 144 billion in 2014, earned him a prize in 2015 at the fourth International Africa Development Forum on February 25-26 in Casablanca, Morroco.

Access To Land Is Biting...

Access to farm land is an old-aged problem that continues to drawback potential investors. Industrial farming requires considerable land and ceding such cultivable land to industrialists has never met a favourable response from peasant farmers.

A case in point that raised controversies was the palm oil production plantation in the South West-the Herackle Farms and the extension of the tea plantation farms in Esu in the North West.

The Greenfil project received a FCFA 89 Million African Development Bank grant for a project to produce palm oil. The project owner, Mohamadou, the eldest of Nana Boubas sees the acquisition of land for the project as the prime challenge.

The project owners are hoping for intervention from government authorities forn the scheme that is expected to spread through the Littoral and South West Regions.