Investment Forum: Speakers encourage “Shared Growth”

Among the many issues highlighted the strategy of shared Growth as key factor to development was over emphasized.

According to the Korean Former PM Chian Chung, development can best be envisaged in a country if entrepreneurs learn to work in partnership.

The message was reechoed to a country like Cameroon which is beginning to experience a rise in the number of middle class personalities with a strong growth rate of over 4% in a population of over 20million.

Shared Growth also entails a favourable business climate for partners.To this, the Cameroon Government recently put in place some modalities to encourage companies that embark on new ventures in the country one of them being tax relief on foreign entrepreneurs based on specific requirements.

The phenomenon of shared Growth was also highlighted by the Chief Executive officer of the United Bank of Africa Tony Elumelu who pointed out the need for a very strong partnership between the private sectors and the Government so to ensure a favourable business climate.

He also expressed the need to partner with the Cameroon Government through his foundation which is out to empower young African Entrepreneur. So far, 44 young Cameroonian Entrepreneur will benefit from his 100 million US Dollars offer for serious African Youths for a ten years duration.

Among the entrepreneur’s numerous customers doted around the world, Cameroon is the second in Africa and 1st in the Central African Sub region. Presently, Cameroon hosts 14 branches of the Financial Institution with many Cameroonians employed to serve at higher levels - 3 of them as Chief Executive Officers.

While lauding the spirit of innovation and dynamism in Africa, the speakers underlined the need for sufficient electricity, education, health, the reduction of migration rate in search for greener pastures, the promotion of local entrepreneurship to attract investment, taking into consideration the frequent terrorist threats.