Paul Biya's bad choice of investors

The President of the Republic very often receives foreign businessmen at his palace who promise heaven and earth to Cameroonians, with the anointing of their host.

In October 2012 Fuqing Lu, general manager of Beiqi Foton Motor Co Ltd, cracked a sensational announcement that he had agreed with the Head of State that his company will build a vehicle assembly plant in Cameroon and in less than seven months Chinese made cars would be sweeping the streets of Cameroon.

But the time advertised for such a major project was by far the least oddity of this meeting. The Sherpa’s of the President, "forgot" to report that the company in question had almost no internationally recognized reference in the automotive sector.

Futian Automobile Co Ltd lacked (and still lacks) internet accessibility, but the presidential security did not care. A year and a half later, the only visible sign of this project is the villa seat (located in Yaoundé) ostensibly bearing the sign "Cameroon’s first automobile Manufactured Co Ltd".

Chronicles of the Presidency of the Republic remember a meeting held with U.S. investors during an acute political crisis in Cameroon caused by the refusal of the opposition to participate in the presidential election of that year.

The Head of State had then received a delegation of American business men who, after the hearing, promised massive investments in many sectors of the Cameroonian economy. History will retain their passage and their statements.

Last Wednesday, Cameroonians learned that the Head of State had received that same day, the Chinese investor’s consortium CITIC Group. For nearly an hour, businessmen and the president discussed at length possible opportunities and at the end it was announced that Citic Group would invest in "infrastructure and social housing." However, they reserved the details of their investment to the office of the Prime Minister.

The symbol is strong. Several times a year Paul Biya receives an audience of "foreign investors", Turkish, Chinese, American, German, Arabic etc, all who announce large investments but very little follows.

The questions the presidential security put forward to these investors should also ask what happens between presidential and ministerial offices to show that such projects will be completed. Many foreign investors often have trouble with the ministers and their families that want to know what they would execute these projects.

Between illusions sellers, investors and real carpets ogres in ministerial offices, we must find the cause of these blockages.