CAMEROON-EUROPEAN UNION
BUSINESS WEEK
Cameroon has the most diversified economy in Central Africa. Endowed with significant natural resources, Cameroon in particular and Central Africa in general offer attractive growth prospects. Both economies have shown exceptional resilience in the face of recent crises (COVID-19 and the war in Ukraine). In its development strategy for 2030 (SND30), Cameroon assigns the private sector an essential role in the structural transformation of the economy. As such, attracting investors is a top priority. Given its strategic position as a gateway to the entire Central African sub-region, Cameroon accordingly deserves the attention of European investors.
Furthermore, in order to achieve the 2030 sustainable development goals, the European Union has opted for greater private sector involvement through its Global Gateway strategy, whereby it intends to mobilise private financing to a greater extent to deliver on these priorities in terms of inclusive and sustainable growth by speeding up the green transition, digital transformation and the creation of decent jobs. This strategy will be implemented by the EU, its Member States and European financial institutions, in particular through the financial instruments of the European Fund for Sustainable Development Plus (EFSD+), to support and finance concrete and high-impact projects. However, such investments cannot take shape without the full involvement of the EU and Cameroon’s private sector.
As a tool to promote a privileged public-private dialogue and as an instrument to support economic relations between the EU and Cameroon, the organisation of a Business Week called « Cameroon-EU Business Week » is a decisive step towards this involvement. Placed under the theme « Seizing investment and business opportunities in Cameroon », the overall objective of the Week is to promote business and investment opportunities in Cameroon for European and Cameroonian investors. In more concrete terms, the forum’s specific objectives are as follows:
- Launch the Team Europe Initiative – Invest in Young Businesses in Africa (TEI-IYBA);
Provide a platform for public-private dialogue to further improve the business environment and investment climate. - This will involve exchanging views on the regulatory framework, including new European regulations and directives impacting the private sector (European Union Deforestation Regulation (EUDR), Corporate Sustainability Due Diligence Directive (CS3D)), which may have an impact on Cameroonian companies in their relations with European companies or the European market;
- Present the opportunities and comparative advantages of Cameroon as a strategic destination for investors by identifying the sectors in which European and Cameroonian investors can become involved;
- Present the European Union’s instruments for private sector development. A workshop will be organised on the financial instruments of the European Fund for Sustainable Development Plus (EFSD+) (guarantees and blending) for the financing of the private sector in Cameroon;
Format of the event
The forum will be held in Yaoundé, at the Conference Centre, from Wednesday 21 to Thursday 22 February 2023 in synergy with the PROMOTE trade fair and will be structured around a high-level opening ceremony, cross-cutting panels in plenary sessions, thematic panels in parallel sessions, a regional workshop on EDFD+ financial instruments and a TEI-IYBA launching ceremony.
Stakeholders
The event is being organised in a « Team Europe » spirit and includes representations and companies from EU Member States. It is expected to attract high-level decision-makers:
· Ministers in charge of economic portfolios
· Ambassadors of EU Member States in Cameroon
· Managing Directors of strategic companies
· The EU, its Member States and its Development Financing Institutions (Commissioners, Ministers, Directors-General)
· European and Cameroonian companies (CEOs, General Managers)
DATE / TIME
From Tuesday 20 - Thursday 22 Feb 2024
8:00 am - 5:00 pm
