African Development Bank's investment in Cameroon reaches XAF177 bn

The investment accomplished by African Development Bank in Cameroon has reached XAF177 billion.

While speaking at a meeting with the economic operators on March 28 in Douala, African Development Bank's (AfDB) executives opined that only 11 percent of this portfolio was directed to the private sector.

"This is a paradox given that the African Development Bank has mechanisms for private investments. Sadly, these fund vehicles are weakly deployed in Cameroon," regretted Solomane Kone, AfDB representative in the central African country.

Due to the requirement to addressing the situation, the bank set up a strategy seeking to promote private investment in Cameroon, in order to make the sector more competitive, both nationally and regionally, as reported by Business in Cameroon.

Also Read: Cameroon to boost exports to DRC, Nigeria, 4 key products to be promoted