Chinese firm to invest FCFA1200 tln in electricity, housing

The Chinese company Poly Technologies is committed to investing CFA 1200 trillion in Cameroon’s electricity sectors and social housing.

This was disclosed after a meeting between the Secretary General of the Presidency, Ferdinand Ngoh Ngoh and officials of the Chinese firm.

Details of the transaction were not specified but the businessmen assured Cameroon that their British partner, New Edge, will provide the same amount.

In late March, China Xhanxi Construction Engineering had signed a CFA 60 billion agreement with Cameroon for the construction of the Cité des cinquantenaires in Douala.