Investment in the agriculture sector has seen some positive changes as this sector is becoming more and more attractive to private investors. The agricultural produce transformation sector is still untapped and waiting for investors like you to take the lead.
According to statistics from the World Bank, the agricultural sector employs at least 60% of the active population. That not withstanding, it still remains a very important sector with high growth potentials that remains untapped. The majority of those in the sector farm for subsistence and not for business.
For this sector to achieve the much-needed growth, post-harvest losses have to be reduced. For this to happen, we need investors who will add value to our local agricultural produce.
Most industrialized nations today began their journey to economic growth with agricultural produce transformation. Cameroon, today, is still in the early stages of transformation.
Malawi took just one year to become self-sufficient in food production because they focused on agricultural transformation. With the increase in interest we are witnessing in agricultural production, it will be a great opportunity for those who complement this by investing in agricultural produce transformation.
I know the agricultural transformation business is capital intensive, but then, you can still start small and grow with time. There are many local businesses that manufacture machines for the transformation of agricultural produce. Just hit me if you need any machine for the transformation of these products.
There are also schools, like Agape Welding School, that have a specialized training for those who have interest in the fabrication of agricultural transformation machinery.
Cameroon has been a source of raw materials and minerals from many foreign companies. On a sad note, these foreign companies don’t consider the manufacturing potential of our country.
Most of these agricultural products are exported and come back to as processed. This is to tell the market potential is there. What if you processed these produces? You will certainly have the local and international market ready to buy from you.
We produce cocoa, and import chocolate. Increasing local processing of cocoa will not only benefit the entrepreneurs and local farmers, but also boost the consumption of made-in-Cameroon products.
What about the first-mover advantage? You will be an early bird that will benefit from the untapped potential of the agricultural transformation sector as well as get a large portion of the market share.
It’s worthy to note that some foreign companies are now taking the lead and successfully starting processing plants in Cameroon.
The necessary resources to succeed in the agricultural sector in Cameroon are many – arable land, manpower, favorable weather and the market. We have no choice but to give our attention to this sector, which to me, is the only source of wealth that will sustain our economy.
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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.