Economy

Cameroon makes charming eyes to France on wake Macron’s visit

A Press kit available for the perusal of media men and women has been made available. This is a major gatekeeping style by the Biya regime as they make all attempts to control the media narrative in an environment where everything French annoys most Cameroonians.

The Cameroon government claims that the colonial links between Cameroon and France have gone beyond politics Over the years. France is recognized as a major partner in the development of Cameroon, its former UN trust territory.

Economic partnership

The Republic of France has since 2002, launched the C2D program which is aimed at reducing Cameroon’s debts by using the money to foster development in Cameroon.

The C2D program has helped in the construction and rehabilitation of schools, health institutions, etc.

France through its AFD agency (Agence française de Developpement) has contributed to the realization of major projects such as the second bridge over the River Wouri in Douala completed in 2017 worth 150 billion francs CFA with the support from the AFD. The Lom Pangar electricity dam in the east region of Cameroon worth FCAF 300 million supported by the AFD, and the Nachtigal project in the northeast of Yaounde in the center region still on construction benefited from a loan from the AFD worth 150 billion euros.

This damn once completed will contribute to 30% of electricity production in Cameroon. The crossover at Nlongkak in Yaounde, the bridge over River Sanaga is another project co-financed by the AFD and the Cameroon government worth FCFA 12.3 billion. The 400 m long and 11.96 m large bridge has been beneficial to the population.

Education

France is home to about 10.000 Cameroon students

This figure was made known by the Cameroon government as the country prepare to welcome the 8th French President Emmanuel Macron come July 25, 2022.

In the last 3 years, France has been a fertile ground for Cameroon students in search of knowledge. Cameroon with 27.2 million people and a 2.5% growth rate.

What does France gain from this? Lion’s share of course!

An observer said France gives you something with the right hand and takes it back with the left hand. This is an apt assertion of what we have read above. The numerous programs sponsored by France are debts, then they give you a loan, cancel it, and in future bargain to have control over some economic gains. By so doing you are at the weakest point to deny.

It goes without saying that France controls almost every sector of Cameroon’s economy. Paul Biya’s country harbors about 200 private enterprises or affiliates owned by French citizens in Cameroon. These companies are found in the petroleum, agro-industrial, cement, telecommunications, and public works sector. From TOTAL Energies filling Stations to Bolore companies passing through Les Brasseries du Cameroon brewery company to the Cameroon Railway, using the Orange Cameroun communication network, France is everywhere.

Cameroon has the natural resources, yet turns to France every time she has her back down. What explains this? Rwandan President, Paul Kagame in a speech during the 14th virtual Annual Banking and Finance Conference on September 14, 2021, wondered why Africa has the natural resources but still looking for help from elsewhere.,

“Indeed, Africa has the resources to fund its own economic growth and reduce dependence on external resources,” Kagame said. “To stay competitive, there is a need to keep integrating new technologies into banking to increase financial inclusion and access.”

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