CMO London explores future growth potential
The CEMAC Market Opportunity (CMO) conference that took place at the Grand Connaught Rooms in London in October was led by founding chairman Elizabeth Andony-Traore, and focused on potential investment within the region.
The Economic and Monetary Community of Central Africa (CEMAC) is comprised of six countries located in Central Africa; Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon and Congo. These countries offer investment opportunities in strategic sectors of their economies, ranging from telecommunications to urban planning and construction.
The conference focused on presenting the positive potentials these countries offer, whilst also discussing the progress and advancements individuals governments have been able to achieve. These include promoting both economic and political development in line with the specific needs of their communities, as well as looking to bridge the current gap that exists with countries in the northern hemisphere.
Many European investors have recently turned to Africa, mainly Central Africa, to explore the possibility of investment. They have looked to support local economies whilst also benefiting from various petroleum operations. At present, Cameroon offers significant agricultural potential whilst countries such as Gabon, Equatorial Guinea and Congo offer the possibility of natural gas explorations.
With the CEMAC region currently in the process of a political and economic renewal, better governance is being implemented, and the introduction of social developments are being explored, enabling continual progress and moving away from political instability and corruption.
With more countries across the African region becoming open to the prospect of tourism (CAN 2012), guest speaker Robert Tashima of the Oxford Business Group said, ‘the potential to stimulate revenue growth is enormous, particularly in light of the rich biodiversity of the region.’
However, the conference highlighted CMO London’s belief that the most important change is the need to listen to Africa’s diverse population and for Africans themselves to be proud of their ethnic background to enable continual growth within the region.
The strides currently undertaken by governments in the region, supported and publicised by CMO London, are bound to make business opportunities a reality and enable the CEMAC area to break free and become a destination for serious investors around the globe.
CMO London annual conference 2011 has been a success for the organisers and the special guests and in particular to the CEMAC region.
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