IPA signs five conventions with Cameroonian firms.

The Interim General Manager of IPA, Boma Donatus, sealed the deals with promoters of the projects. 

The investments, totalling well over 107 billion FCFA and projected to generate close to 2,000 direct jobs, cover wood transformation, hospitality, manufacturing, tourism and cement production. 

The five beneficiaries are La Société Micasa by MCG Sarl, operating in wood transformation and manufacturing, with an investment of 2.6 billion FCFA and 450 jobs projected to be created while ETS Befidi & Fils is in to hospitality, with 4 billion FCFA and 300 jobs projected. 

La Société Générale des Travaux du Cameroun in manufacturing, has an investment portfolio of 1 billion FCFA, with an expectation to create 200 jobs. 

Sphinx Resort Palace in tourism and leisure, commanding the largest single commitment at 100 billion FCFA, targets the creation of 1,000 jobs at project completion. 

The fifth signing was an addendum to an existing convention for the Société de Ciment du Cameroun, a cement manufacturing venture backed by Atlantic Group.

IPA boss urges Cameroonians to invest at home­

Addressing stakeholders at the ceremony, the Interim IPA General Manager commended the all-local character of the occasion.

“Today's signing is purely Cameroonian, and I believe that is something important to highlight. Congratulate yourselves first for this confidence you have in your own country,” Boma said.

He stressed that local entrepreneurs were the first ambassadors of investment promotion. According to him, domestic investment demonstrates seriousness and strengthens the country’s appeal to foreign direct investors.

“If you go to London and ask a British investor to come and he sees that Cameroonians are not investing at home, why would he come?” he questioned. 

The General Manager further noted the diversity of sectors represented as evidence of a broadening and resilient economy, adding that the use of local raw materials was particularly in line with the country’s investment promotion priorities.

Referring to import substitution, he described it as one of the most important priorities for the country at the moment. 

Boma pointed to the wood transformation project as an example of adding value locally and exporting finished products. 

He expressed his vision of a future where Cameroonian-made furniture replaces imported goods in boardrooms, offices and homes nationwide.

On the regulatory front, Boma pointed to a 2025 presidential ordinance as creating a more conducive investment climate. He announced that the IPA would soon operate a one-stop shop for investors, with a virtual platform enabling applications to be submitted online from abroad.

“Whether you are in France or the United States, you will be able to apply online and obtain your approval within 10 days. If we cannot deliver within that period, we will have to account for why it was not done. There will be total transparency,” Boma underscored. 

He concluded on an upbeat note, echoing the Head of State's own rallying call: “The last word I can say is, as the Head of State always says, one word: keep going”.

Investors laud IPA’s support

Speaking to reporters after the signing, the investors praised the IPA for backing their projects noting that the agency's incentives would make a tangible difference and fast track project implementation.

The Director General of Sphinx Resort Palace, Ngono Onana, was enthusiastic about the convention's fiscal benefits.

“We will no longer pay customs duties for five years during implantation and five years during exploitation,” Onana said, urging potential investors not to hesitate.

The chain's first property in Sangmelima, a four-star hotel with 82 rooms and 12 suites is nearing completion, with an inauguration projected for May or June. More hotels are planned for Efoulan in Yaounde, Ebolowa in the South Region and Bafang in the West Region. 

Atlantic Group’s Vice President, Georges Wilson, signed an amended convention for the Société de Ciment du Cameroun, a one-million-tonne cement plant already under construction and expected operational within 24 months. 

Wilson said customs and VAT exemptions on imported machinery were critical to ultimately producing affordable cement for Cameroonian consumers.

Female entrepreneur, Léonie Ella of Micasa by MCG Sarl, revealed that the aim of her project is to curb furniture imports and promote technology transfer. The first phase is projected to create 350 direct jobs, with long-term employment expected to exceed 1,000. 

This article was first published in The Guardian Post Edition No:3712 of Monday February 23, 2026