Tax exemptions for 4 industrial projects worth 45b FCFA

In the month of January, the Cameroonian government will be signing of the second round of agreements with economic operators with industrial projects that have been granted tax and customs exemptions stipulated in the Private Investment Code in effect.

The cumulative investment of these economic operators is estimated at 45 billion FCFA. Close to 1,600 jobs are expected from these industrial projects.

According to the Investment Promotion Agency (IPA), among the beneficiaries of these agreements to be signed are two companies newly created by Cameroonian industrial mogul, Samuel Foyou.

They are the brewing company Brasaf (Brasserie Samuel Foyou), which should cost over 30 billion FCFA and will generate 600 jobs as well as First Industry Cosmetics (Fico), a 2.7 billion FCFA investment with 350 jobs.

The two other beneficiaries announced are Société camerounaise de savonnerie (SCS), for which 3 billion FCFA will be invested, creating 152 jobs and Société African Pool Construction, which will enable the creation of 480 jobs, thanks to an 8.2 billion FCFA investment.