First cars assembled in Cameroon to get on the market in 2016

The indo-Chinese consortium, which is to partner locally with the Cameroon automobile industry company (CAIC), announced an investment of 92 billion CFA francs following an agreement signed with the Cameroon Government which will enable the country’s first assembled cars get on the market in 2016.

According to CAIC General Manager, Manoj Khiyani, “the first vehicles will be on the market in about a year and six months. This project will benefit from the law on incentives for private investment in Cameroon which grants tax-customs exemptions for the business over a period of 5 to 10 years, both during the phases of installation and production”.

The first cars assembled in Cameroon by the Indian company Azad Coach, Chinese Gac Gonow and Yutong in Douala and Kribi respectively, will be operational next year.

He added that about 4620 direct jobs would be generated through these projects during the first 15 years of activities. Because of the, Cameroon is a large consumer of second hand vehicles generally imported from Europe, primarily Germany, Belgium and France due to the low purchasing power of the population.