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Mad rush for palm oil in Central Africa

APAnews | There is a frenzied palm oil rush in Central Africa where several multinational firms are running production outfits in the region.

Img : Mad rush for palm oil in Central Africa
The rush would make the Central African Economic and Monetary Community (CEMAC), the palm oil capital of Africa, the Secretariat of the regional bloc said on Thursday.

Apart from firms, which were previously established in the sub-region, such as the French Group Bolloré through the resumption of the activities of the Cameroon Society of Palm Groves (SOCAPALM), there is a growing interest from foreign companies to invest in the sector in Central Africa.

Of note is the development of 73,000 hectares of plantation by Erakles in Cameroon, with a possibility for the American company to extend its capacity to 100,000 hectares.

In the same vein, the Asian firm Olam claims to have made an investment to develop 50,000 hectares in Gabon, where the international firm Eco Oil Energie is banking on a production of 50,000 hectares in Congo.

According to various sources, similar industrial ambitions have been announced in the Central African Republic, where if not for an ongoing crisis, Chinese and French interests could have launched their projects.

For CEMAC, palm oil investment in Central Africa is on the increase.

The region is poised to become the world’s foremost producer of oils.

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  1. The only people not Investing in Africa are other Africans and The African Diaspora!

    • Before blaming citizens in the Diaspora for not investing in Cameroon, make sure you have some back up. You will find no leg to stand on once confronted with statistics of failed ventures that our burdensome system ran aground!!!!!!

      • When the sociopolitical and economic climates are good, investments proceed at a fast rate; the reverse occurs with hurdles placed on the path of those who venture. Take a look backward in time (memory lane) at the following:
        Dr. William Tiga’s aborted IOCS (Input Output Computer Services) in Yaounde, Tamanjong-Ndumu Building Enterprise, Che Company Limited, Nangah Company Limited, Ndifor Automobile Company, Niba Automobile, Kilo Brothers Company LTD, Mbiwan’s POWERCAM, etc. Those were efforts by returnees from the Diaspora!!! Add to these Henry Agboraw’s AUDIT Department and you get the recipe for wistfulness.

  2. Pamol has been existing since 1888 as an affiliate of the Ambas Bay Trading Co., yet this region has gotten nothing to showcase for and still practices 1st generation agricultural techniques. Radical and transformational economic/agricultural are way-better than this so-called plantation agriculture.

  3. Unless you have an army to back your investments you would be a fool to invest in a country which does not respect lots own laws let alone international laws.
    Bolloré? Yes backed by French army
    Erakles? Yes backed by US army
    Chinese? Yes backed by Chinese interests and army.
    Diasporan? No army, nothing to back you. If you have money to waste, invest in la Republique.

  4. Agriculture is free and no tax. Just say anglophones will squander your investment not the law because of mismanagement . My mentor has over 500 archers and just bought a land for $6 million in Bastos from proceeds coming from the land.

    • Your mentor has a French passport nobi so?
      When we get to Buea, there will be land reform for the people

      • Shut up. What has a passport has to do with this. He is not a government worker. If you can’t appreciate the number of people he has to employ then you have a problem.

        • Ignorance will kill you.
          If you want to do business In a globalized world and you think a passport has nothing to do with it I leave you to dustbin of history. You are another reason why Anglophones must leave the unholy Union.
          You get jittery when we catch you playing your tricks. You all have French passports and you want to bring Ambazonia down with you. Never.
          Ambazonia must be free.

      • Do not forget that dual nationality can be an asset in the right hands even though some persons stupidly turn it into a condemnable liability in their blind quest to win all the time!
        Robbing Cameroon to pay Switzerland is a clear example.

      • You are very stupid. What’s a bakossi man like me doing in France and why are you crying about passports when your leaders are foreigners. We are not fools and you know nothing about investment otherwise instead of killing people, you would have harmonized resources to invest in these regions you do love. You are Damian the devil.