Agricultural business in Cameroon
As we grew up learning from our parents, “ground nodi fail” (you will not fail if you engage in farming). “Working the land is a sure thing. Do not be afraid to take that step, be the agricultural entrepreneurs Cameroon needs,” Paul Biya, 2016.
This is usually said when all other possibilities are not working. When success seems far, many run to agriculture. Same with the country – after the oil crisis, the state has seen the agricultural sector as one of the sectors that can help the country sail through.
However, this may not be the case today. Agriculture may not have been the option for many, but today, it seems it is just what many would want to engage in.
The agriculture industry has plenty of potential in Cameroon. Until the late 1970s, agriculture was the main source of foreign exchange and growth in Cameroon. This was replaced by oil production which negatively affected the agricultural productivity and development.
Agriculture plays a great role in the development of the Cameroonian economy. In 2016, it generated up to 23% of the gross domestic product of the country and employed about 62% of the population [The Future of Agriculture in Cameroon in the Age of Agricultural Biotechnology by Audrey Ball].
The rural sector still plays a great role in the development of agriculture as most of the farming is done in rural areas. Following the plunge in the oil sector, which Cameroon so much depended on, emphasis has been shifted to other sectors, especially the agricultural sector in order to diversify the economy.
The President of Cameroon once declared that the country’s development depends on Agriculture. In his swearing-in speech, after winning the 2018 Presidential Elections, he mentioned that an agricultural revolution is what will help Cameroon sail through the recent economic crisis. This can be seen in the field as the government has increased efforts to encourage and make the agricultural sector more competitive and productive.
In my opinion, this should be of interest to anyone who wants to invest in this sector. You should not be left behind as this revolution has already started. It’s not late to start.
Investing in agriculture
Many Cameroonians, through this platform (OpenHub Digital) have been showing interest in investing in agriculture. I have also shown interest in the sector, so I decided to carry out some research and find out institutions that can help in the promotion of agriculture.
This research wasn’t only for me, but for everyone who follows this blog and plans to invest in the agricultural sector. I will be sharing with you legal, tax and other necessary tips on how to go about your farm business in Cameroon.
Acquiring land for industrial agriculture is one of the problem most of those who got in touch with me face. This should be one of the least problem to worry about, as there’s enough land for those who want to invest especially in crop production. So don’t hesitate to get in touch with us if you need a fertile farming land for your farming business.
In my next post, I will be sharing with you some steps you can take to help you launch a farming business in Cameroon.
If you found this post interesting or helpful, don’t hesitate to share with those who may need it. You can also leave comments below.
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This content has been prepared for information purposes only. It is not intended to provide, and should not be relied on for, tax, accounting or legal advice. You need to consult your own tax, accounting or legal advisors before engaging in any transaction.