Kawtal merges with Sagex, an IPDEV investee company in CameroonSubmitted by Admin on Wed, 03/19/2014 - 14:39
Investisseurs & Partenaires gets into Kawtal Ndmeri’s capital thanks to its merger with Sagex, a company of which I&P is a shareholder since 2009. Both work on the rural lands of the Wassandé site which was conceded by Cameroon’s state.
Kawtal Ndmeri responds to an important demand on the local market. Though agriculture is a key sector to Cameroon’s economy (up to 40% of the GDP), it suffers from a lack of mechanization and production rationalization which affects its profitability and production volumes. Thus, local corn farming is highly insufficient to cover the current market needs. Cameroon is every year a net corn importer, which implies high costs for local consumers because of transportation and importation costs.
For that matter, building local production and distribution chains in the agribusiness field in order to get an autonomous national demand is an impact objective of I&P.
This merge aims at gathering human and technical means of both companies, enabling them to plan on a 1000 ha corn production as soon as next season, and finally get to locally transform the products into baby food, among others.