Camwood Corporation to invest 16 billion CFA francs in wood processing

Camwood Corporation aspires to build a unit for wood processing which will create 250 direct jobs for a total investment estimated at 16 billion francs CFA in Cameroon.

Wood has for some years become the 2nd export product in Cameroon after oil. However, the country which usually exports its timber after first processing barely attracts a substantial capital gain from logging (6% of GDP) due to lack of industrial units providing 2nd and 3rd transformation.

Camwood Corporation has been declared eligible for the benefit by the law on incentives for private investment in Cameroon.

The Cameroon government offers local and foreign economic operators the opportunity to benefit from the country for 5 to 10 years during the phases of installation or operation of their businesses.