It is no secret that the world’s most pow-erful economies have their sights set onthe resources-rich African continent as a

stimulus for global growth. The United States,the European Union and China, the threebiggest players, are vying for positions andinvesting heavily in a region of the world thatis slowly emerging from a decade-long eco-nomic crisis. The United States, thanks to itslong-standing ties and aid commitments topeace-loving and democratic African nationslike Cameroon, is clearly ahead of the game.

As America moves to decrease its depen-dence on Arab oil, investments in the Gulf ofGuinea—and especially in Cameroon—havesteadily increased. The United States nowpurchases some 10% of its oil from the region.And thanks to the political stability nurturedby Cameroon’s adroit President, Paul Biya,Cameroon offers a perfect platform for thedevelopment of a wide range of U.S. invest-ment throughout the region.

Washington’s construction last year of a new$54 million U.S. Embassy in the capital Yaoundémarked the beginning of a new era inCameroon-U.S. relations and is a clear signthat the United States is committed toCameroon for the long haul.

“Our relations with the United States ofAmerica have always been excellent and theyhave taken on a special dimension in recentyears,” notes President Biya. “The building ofa new American embassy attests to the qual-ity of our relations and contributes to beauti-

fying our political capital. Cameroon hails theUnited States Government for its support toour development efforts. Indeed, relationsbetween Cameroon and the United States areexcellent.”

Shortly after President Biya was reelectedfor another seven-year term in 2004, he steppedup his campaign to quash corruption andlaunched a “Great Ambition” program to speedup reforms and develop investment in sever-

al key areas including tourism, industry, ener-gy, infrastructure and agriculture, with thegoal to make Cameroon a middle-incomenation by 2020.

His efforts were rewarded last year whenCameroon achieved the completion point ofthe IMF’s Heavily Indebted Poor Countries(HIPC) Initiative, making fresh financing avail-

A S P E C I A L A D V E R T I S I N G S U P P L E M E N T T O T H E N E W Y O R K T I M E S M A G A Z I N E

�LOCATION: western Africa, bordering theBight of Biafra, betweenEquatorial Guinea and Nigeria�POPULATION: 18,060,382 (July 2007 est.)�GOVERNMENT TYPE:republic; multiparty presidentialregime�INDUSTRIES: petroleum production and refining,aluminum production, foodprocessing, light consumer goods,textiles, lumber, ship repair�GDP (real growth rate): 4.1% (2006 est.) �LABOUR FORCE: 6.394 million (2006 est.)

This supplement has been produced and sponsored by Summit Communications. It did not involve the reporting or editing staff of The New York Times.

A beacon of political stability and democraticprogress, Cameroon is rapidly becoming ahotbed of investment as American companiesturn their attentions to the oil rich West Africancountry, strengthening mutual cooperation

GREAT AMBITION DRIVES ANAFRICAN SUCCESS STORY

Cameroon

Continued on page 2

Cameroonian President Paul Biya with George Bush. Bilateral relations between the two countriesare both cordial and mutually fruitful as American investors and U.S. aid bolster the economy.

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able. Moreover, the donor members of theParis Club have since moved to cancel mostof the country’s debt.

“Cameroon is the nineteenth country toreach the completion point of the HIPCInitiative,” notes Prime Minister Inoni Ephraïm.“This is recognition by multilateral financial insti-tutions as well as our partners of the substantialefforts we have made under the aegis of HisExcellency Paul Biya in the area of macro-eco-nomic stability, implementation of the pover-ty reduction strategy, revamping investmentsin the social sectors, significant progressrecorded in the privatization process andreforms in the forestry and transport sectors.”

The Cameroon government is bent on sig-nificantly improving the business climate andon improving protection for life and property.

“These are primordial forattracting more directforeign investment ingeneral, and Americansin particular, toCameroon,” Mr. Ephraïmexplains. Cameroon’sVice Prime Minister andMinister of Justice,Amadou Ali, added that,“The IMF did not err in

classifying our country among the 35 coun-tries in the world where investments are bestprotected.”

Resolving conflicts peacefully is anotherintrinsic Cameroonian trait. After a years-longborder dispute, Nigeria last summer formallyhanded over the oil-rich Bakassi Peninsulato Cameroon in compliance with anInternational Court of Justice ruling and UN-brokered deadline.

“On behalf of the people of Cameroon andon my personal behalf, I thank former UNSecretary General Kofi Annan and friendly coun-tries like the United States, France, Great Britain,Germany and others that were so supportivein this process,” President Biya said.

“As I often say, peace is a sine qua non forthe life of states. Without peace, there is nodemocracy, no development, no social progress.This is why Cameroon always feels concernedabout any efforts that may put an end to con-flicts and consolidate peace and stability in itsimmediate vicinity or further afield,” ■

Cameroon / 2 SPECIAL ADVERTISING SECTION

INONI EPHRAÏMPrime Minister ofCameroon

AMADOU ALIVice Prime Ministerof Cameroon

Continued from page 1

The Washington, D.C. basedCorporate Council on Africa(CCA) is dedicated to

strengthening trade and investment partnershipsbetween the United States and the 53 countries ofAfrica. CCA programs and events are designed tobring together potential business partners and toshowcase business opportunities on the Continent.

Once every two years CCA convenes the U.S.-Africa Business Summit, the premier gathering ofbusiness and government leaders from the UnitedStates and Africa. We invite you to join us fromNovember 14-16, 2007 in Cape Town, South Africafor the biennial U.S.-Africa Business Summit, ourfirst summit on African soil.

The summit will be a three-day event at theCape Town Convention Center packed with net-working opportunities, as well as sector-specificplenary sessions and workshops such as finance,energy, ICT, mining, agribusiness, and the sportsand entertainment industry. A new feature at the2007 Summit will be a trade show that will allowcompanies to showcase their products, services,and capabilities to potential buyers and customersthroughout Africa.

Increased trade and investment between UnitedStates and African businesses is the goal of CCA.This year’s Summit will enable you to exploremany business partnerships in Africa. We hopeto see you in Cape Town.

LETTER FROM STEPHEN HAYES, PRESIDENT OF THE CCA

STEPHEN HAYESPresident of the CCA

Mr. President, what is yourvision for Cameroon by 2011?

I have placed my seven-yearterm under the banner of greaterachievements in a bid to usher infar-reaching changes inCameroon. Such changes wouldtransform Cameroon into a mod-ern country, with efficient and sta-ble democratic institutions, rununder an organized decentraliza-tion system where citizens areinvolved in the development oftheir communities; a country thatis strongly driven by a vibrant andsound economy that is open to for-eign capital, yet promoting therational exploitation of itsresources.

What will be the main thrust ofgovernment action?

We must improve the man-agement of our public investmentbudget, as well as resources lever-aged from debt relief or aid.Incentives to boost national or for-eign investment have been intro-duced. The enhancement of ourenergy capacity through a com-prehensive program to harnessour gas deposits and hydroelec-tric plants will pave the way foran intensive industrial policy.

The Government should mapout a major agricultural policy,and a true tourist policy will helptap Cameroon’s huge potential.New and diverse means of trans-

port will be developed. Our coun-try needs more roads, bridges,dams, ports, telecommunicationssystems and maritime, rail and airinfrastructure. Lastly, informationand communication technologieswill not be left out, as they areevery nation’s gateway to moder-nity.

Cameroon has attained the com-pletion point of the HIPC initia-tive. What does that mean forthe country?

This initiative aims to help somecrisis-ridden countries revamptheir economies through debtrelief, or cancellation of all or partof the debt owed to variousdonors. We will therefore startimplementing major developmentprojects through a bold and par-

ticipatory policy. The resourcesaccruing from debt relief will beearmarked, as a priority, for theeconomic and social developmentof the country.

Attainment of the completionpoint of the HIPC initiative confirmsthe vibrancy of the Cameroonianeconomy in the aftermath of rel-evant adjustment programs. The

growth outlook is good. Inflationhas been contained while our pub-lic finances have been rehabili-tated. In short, the businessclimate is investment-friendly.

Cameroonian-U.S. relations arevery sound. What would yourmessage be to potential U.S.investors?

I would like to reassureAmerican investors that

Cameroon is a country where theycan do business. We are blessedwith abundant and diverse naturalresources and qualified humanresources. There are numerousinvestment opportunities for theU.S. private sector in Cameroon.They include road, railway, portand airport infrastructure as wellas water, electricity, mining, gasand oil production.

For many years now, my coun-try has enjoyed peace and stability,which are prerequisites for invest-ment. Cameroon is today amodem democracy where fun-damental freedoms and free enter-prise are guaranteed. We havemany incentives pertaining main-ly to improved governance andcombating corruption, furtheringstructural reforms and promotingan enabling framework for invest-ment.

According to the World Bank,Cameroon now features amongthe 35 countries in the worldwhere investors and investmentsare best protected. We areengaged in reforming our legaland judicial environment so thatinvestors may settle in our coun-try for as long as they wish.Hence, the new CriminalProcedure Code seeks to furtherprotect individual freedoms. In ashort, my message to Americaninvestors is that ‘Cameroon is agood risk for business’. ■

‘ATTAINMENT OF THE HIPC COMPLETION POINTCONFIRMS CAMEROON’S ECONOMIC VIBRANCY’The Biya administration has drawn up a wide-ranging package of economic reforms called ‘GreaterAchievements’ 2020. In an exclusive interview, President Biya reveals his goals for his current seven-year term.

President Biya and former Nigerian President Obasanjo shake hands af-ter the peaceful conclusion to the Bakassi Peninsula dispute.

‘THE IMF DIDNOT ERR INCLASSIFYINGCAMEROONAMONG THE 35COUNTRIESWHEREINVESTMENTSARE BESTPROTECTED’

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Cameroon / 4 SPECIAL ADVERTISING SECTION

The Cameroonian govern-ment is well aware that con-tinued development

depends on providing the kind ofservices and infrastructure thatforeign investors demand of anation that represents nearly 70%of the economic activity of theentire Central African sub-region.Thus, much of the country’s bud-get is earmarked towards ensur-ing a fluid transport system anddependable basic utilities.

“Cameroon is a developingcountry. It is under construction.The president has the firm willto make the development of infra-structures one of the most impor-tant levers of growth,” explainsPublic Works Minister BernardMessengue Avom. “In 2007, theglobal budget devoted to infra-structures will be about 133 bil-lion CFA ($273 million), including56 billion CFA from internation-al donors. That is an evident signof the development of infra-structure.”

All major Cameroonian citiesare linked with good roads, allow-ing industries and people to movefreely across the country. Cameroon’s trans-port sector accounts for some 15% of GDP,and its road network is the most developedamong nations in the Central Africa sub-region, most of which use Cameroon’s roadinfrastructure to get their exports to market.

Moreover, the Public Works

Ministry is overseeing a decades-long road development and reha-bilitation program.

“Our responsibility is effec-tively very big, because we knowthat in the Central African sub-region many countries dependon us: Chad, the Central AfricanRepublic, Congo, just to name afew,” adds Mr. Avom.

One U.S. company has target-ed Cameroon’s infrastructure sec-tor for investment. The Americanutilities group AES Sirocco has alarge presence in Cameroon andis an example of one of the manysuccess stories of U.S.-Cameroonian cooperation.

“It is successful because wehave set up a legislative and reg-ulation framework favorable tothat kind of partnership,” notesEnergy and Water Minister SindeuJean Bernard. “We have made alaw that liberalizes the electrici-ty sector, we have created anagency of regulation, we havecreated basic structures to attractinvestors, to enable them toinvest, to enable them to bene-fit from their investment, so thatthey can bring back home thedividends as they wish.”

That policy of liberalism hasattracted other U.S. companiesto the Cameroonian energy sec-tor, including Mobil and Exxon.“We are in a productive area.Near us, we have Angola, Guinea,Nigeria, Gabon, Congo. Cameroon

can develop, with the United States, an oilrefinery that could supply all the markets ofWestern Europe and America itself. Therefore,we wish to put in place mutually beneficialpartnerships in the oil and gas sector,”explains Mr. Bernard.

Partnership opportunities between U.S.

THE DRIVING FORCE BEHINDCOOPERATIVE GROWTH2007 sees the unleashingof a huge infrastructurebudget, a large percentageof which comes frominternational donors withinternal business interests

As Cameroonrepresentssome 70% ofthe economicactivity of thesub-region, itsneighbors arelinked to itseconomy. Thus,the necessityfor soundinfrastructuresresonatesbeyond theborders ofCameroon.

BASILE ATANGANAKOUNAManaging DirectorCamwater

and Cameroonian companies also exist in thewater sector following the successful restruc-turing of the national water provider SNEC.Under the new structure, the entity CAMWA-TER was set up to develop water productionon a national level in conjunction with theprivate sector, which handles distributionand commercialization.

Under the leadership of Basile AtanganaKouna, Managing Director of CAMWATER andSNEC Administrator, both water productionand turnover have increased by 50 percent,and the number of connections to the watersystem has greatly increased. He has beenhailed a part of the “new guard” ofCameroonian managers, fighting corruptionand increasing revenue for the company,which was in a deep crisis when he wasappointed in 2002 to restructure and pre-pare for privatization. In July of 2005 he wasawarded the “Africa Prestige” prize from theInternational Council ofAfrican managers(ICAM).

“One of the missionsof the ProvisionalAdministrator of SNEC is to look after thesmooth continuation of the on-going processof privatization that has advanced remark-ably with the creation of the patrimony com-pany, CAMWATER in December 2005,” Mr.Atangana Kouna explains. “The withdraw-al of the state from some economic sectorsis a strategic choice made by the govern-ment aimed at making public companiesmore competitive.”

On the invitation of the American Agencyfor Commerce and Development (AACD), adelegation of SNEC took part in a seminarconcerning the orientation of the water sec-tor in 2006, Mr. Atangana Kouna recalls.

“During this seminar contacts were madewith American companies that operate inthe water sector, concerning the opportuni-

ties of partnerships, asa prelude to the com-mencement ofCAMWATER’s activities. At the end of that mis-

sion, there was hope that it would be pos-sible to consolidate mutually beneficialrelations with American economic opera-tors.”

This year, Mr. Atangana Kouna says he isexpecting to receive “more than a dozenU.S. investors who already showed an inter-est in the project of the current public–pri-vate partnership in the sector of drinkingwater in Cameroon.” ■

BERNARDMESSENGUE AVOMMinister of PublicWorks

SINDEU JEANBERNARDMinister of Energyand Water

The transport sector accounts for 15% ofGDP, and Cameroon’s road network is the

most developed in the sub-region.

‘OUR RESPONSIBILITY IS VERY BIG, BECAUSE MANY COUNTRIES

IN THE CENTRAL AFRICAN SUB-REGION DEPEND ON US’

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5/ CameroonSPECIAL ADVERTISING SECTION

After years of hard work to modern-ize and liberalize its telecommuni-cations sector in order to bridge the

digital gap between cities and villages,Cameroon is now poised to embark on anambitious plan to become the IT hub of theCentral Africa sub-region with the help ofU.S. companies and know-how.

Impressed by IT developments inCameroon and the inroads made by CAM-TEL—the state-ownedtelecom operator cur-rently undergoing pri-vatization, CISCOSystems have decidedto make Cameroon one of three or fourdevelopment focal points in Africa, accord-ing to Minister of State and Minister ofPosts and Telecommunications, Bello BoubaMaigari.

“We were very happy to know that CIS-CO has an interest in Cameroon. We havemostly been very happy that they knowthe scope of the role that Cameroon can

play in the sub-region of Central Africa. Wehave a working program with them andfrom that we are going to implement thedevelopment program of telecommunica-tions and ICT in Cameroon,” notes Mr.Bouba Maigari.

Last summer, Cameroon issued an invi-tation for tender proposals to sell its 51%of the state’s CAMTEL holding to a strate-gic partner. Since then CAMTEL, under the

leadership of ManagingDirector David NkotoEmane, has becomemore and more attrac-tive to potential

investors. It has increased the number offixed lines by nearly 50%, has just attainedanother mobile phone license and is welladvanced on a government plan to installfiber optics lines along the Chad-Cameroonpipeline.

“I would say that CAMTEL is the imageof Cameroon today. It is a company that iscoming to life again, that is growing,” says

Mr. Nkoto Emane.The CAMTEL

managing directorsays his main per-sonal objective forthe company is toconduct the privati-zation process well.

“I want to nego-tiate it well and totake it to the end. Itwas a choice of gov-ernment that Irespect, but it should

be clear that the political will of governmentremains the deployment of ICT throughoutthe whole territory,” he explains.

As far as collaboration from the UnitedStates is concerned, Mr. Nkote Emane doesnot mince words. “I can say that they havenot done much so far at the level of telecom-munications. I would like them to do more.I am ready to do everything within my pow-er for the United States to bring us sub-stantial help as far as the development ofinformation and communication technolo-gy is concerned.

“If we go somewhere else, it’s becausewe don’t feel the presence of the UnitedStates. We really want the United Statesto help us. In terms of technology, they arethe most important partner,” he adds.

Minister Bouba Maigari echoes thosesentiments. “Africa is not only the conti-nent of great humanitarian catastrophesthat are often broadcast on television. Africais a continent that has a future. It is a con-tinent that today has between 500 and 600million inhabitants. We will rapidly reach700 million and more. It is a continentwhose population is young, a continentthat is rich in potential.

“Its populations are more and moreaware of the fact that the world is chang-ing very fast and they don’t want to fallbehind in the evolution of society. In Africa,people are making a lot of effort to improvegovernance, promote education, scienceand technology. In short, Africa is a con-tinent where there are reasons for hope,reasons to believe and we want the UnitedStates, which is the main economic pow-er in the world, to have more interest inAfrica.” ■

RINGING THE CHANGES IN REGIONAL TELECOMMUNICATIONS As Cameroon positions itself as a regional IT center, overtures towardAmerican companies are being made for ICT development on a grand scale

DAVID NKOTOEMANEManaging DirectorCamtel

‘I WOULD SAY THAT CAMTEL ISTHE IMAGE OF CAMEROON TODAY.IT IS A COMPANY THAT IS COMINGTO LIFE AGAIN, THAT IS GROWING’

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7/ Cameroon

After returning from a month-long trekacross several African nations, a sea-soned traveller recently lamented that

the sheer size of the continent made it impos-sible for one to experience all the wondersAfrica has to offer in just a few weeks. Toobad his trip excluded Cameroon.

Thanks to the diversity of its landscapes,flora and fauna, Cameroon is often describedas “Africa in miniature” or “all of Africa inone country” in the most popular travelguides, notes Tourism Minister BabaAmadou.

“The extreme diversity of Cameroonian cul-ture and all is such that the tourist who wish-es to visit the African continent in one tripcan come to Cameroon and be satisfied.

That is the asset of Cameroon. We are notrelying only one product, but on many. Forexample, we have two hundred and fiftytribes in Cameroon and each tribe is a cul-tural treasure,” Mr. Amadou explains.

Cameroonian President Paul Biya has often

THE JOYS OF AFRICA GIFT-WRAPPED IN ONECameroon’s incomparablediversity makes it the idealdestination for travelers wishing tosee Africa’s wonders in one place

Agriculture is the backbone ofthe Cameroonian economy,making up some 42% of thenation’s GDP and accountingfor 70% of the workforce. Muchof the sector is dedicated tohelping to make Cameroon self-sufficient in food production,cash crops —especially cot-ton—and to earn the foreigncurrency that feeds the econ-omy and job market.

“Food security is a majorconcern of the Cameroonian government,”notes Jean Nkueté, Minister of Agricultureand Rural Development, “but the ministry’skey policy objectives includes making surethat the sector contributes to economicgrowth and particularly to the growth of for-eign exchange and employment.”

That is where state-owned cotton devel-

opment company Sodecotonplays a major role. The enter-prise has a turnover of CFA 96billion ($196 million) and takescare of 350,000 cotton pro-ducers. Cameroon is a smallcotton producer but the quali-ty of its crops makes it a majorworld player, despite having tocompete with nations whosefarmers receive governmentsubsidies, such as the UnitedStates.

“When Sodecoton is breathing, the econ-omy of northern Cameroon is alive,” saysSodecoton General Director Iya Mohammed.“Since even the most powerful economiessuch as the United States and the EuropeanUnion help their producers, I don’t see whyour government cannot help us too. It is intheir interest because I cannot imagine thedisastrous consequences that the Northwill suffer without cotton, bearing in mindthat those 350,000 cotton producers eachhave a family of about 7 people. That meansat least two million people depend on cot-ton revenues. Surely the state has an inter-est in a cotton sector that fights poverty,saves jobs and prevents rural exodus.

“As long as people in the Western Worldpersist in their lack of solidarity, not onlyare they going to create problems in Africa,they are going to create problems in theirown countries.”

IYA MOHAMMEDManaging DirectorSodecoton

Continued on page 8

FIGHTING THE COTTON FARMERS’ CORNER

Palm-fringed beaches characterize thecountry’s Gulf of Guinea coastline.

Cotton is a major agricultural commodity,with some 350,000 employed in the sector.

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Cameroon / 8 SPECIAL ADVERTISING SECTION

described tourism in Cameroon as “a lucra-tive investment sector,” and has targetedtourism as one of the levers with which thegovernment hopes to catapult economicactivity.

“Tourism not only brings people and cul-tures together, but it also creates jobs, gen-erates income and enables us to fightefficiently against poverty,” says Mr. Amadou,whose ministry is nearing its objective ofattracting more than 500,000 tourists toCameroon annually.

As the government plans toprivatize all hotels and developfour major tourist sites, includ-ing the Kribi-Campo beach andthe Ebogo district, the TourismMinistry has been hard at workon a tourism investment codethat will ease operations for for-eign investors.

“There have been severalpotential investors visiting here,including Americans,” notes Mr.Amadou. “Recently we received a team fromMarriott, which intends to build a five-starhotel of 180 rooms in Douala. It will be thefirst hotel built by Mariott in Cameroon, andthe opening of a Mariott hotel will no doubtattract visitors and tourists here.”

Cameroon is a country that lives in peacein a continent that is quite often tormentedby conflicts and violence. And now that it isemerging from the economic crisis of the pastdecade and has reached the completion pointof the International Monetary Fund’s HIPCinitiative, the government has launched anationwide campaign to “sensitize theCameroonian society to the respect of finan-cial orthodoxy, the fight against corruption,and everything to reassure the country’s for-eign partners, particularly the United States,”

Mr. Hamadou explains.“When the officials of Marriott

came to see me, they told me thatthey were mostly interested by theadvantageous location ofCameroon. In the Gulf of Guinea,Cameroon assures a good linkbetween West Africa, CentralAfrica, East Africa and furthertowards southern Africa. Our strate-gic position, coupled with the factthat our country is stable and lives

in peace, has become a leitmotiv toCameroonians,” concludes Mr. Hamadou. ■

For further information contact: SUMMIT COMMUNICATIONS

1040 First Avenue, Suite 395, New York, NY 10022-2902

Tel: 1 (212) 286-0034 ,Fax: 1 (212) 286-8376, E-mail: info@summitreports.comAn online version is available at

www.summitreports.com/cameroon2007

SUMMIT COMMUNICATIONSIN CAMEROON

Project Director: Mathieu BrissetProject Coordinator: Yanu PederivaProject Assistant: Geraldine Hardy

Continued from page 7

BABA AMADOUMinister of Tourism

The 2,396meter Mount

Manengouba inwestern

Cameroon is aforested

volcanic craterthat is home to

a wide range ofendangered

species, someof which areonly found in

this untouchedparadise.

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