If public speeches delivered in the country of late are anything to rely on, then Cameroon would have negotiated an irreversible bend towards resolutely expanding her economy. In the wake of a drastic drop in the prices of commodity products on the global market; especially crude oil-one of Cameroon’s main export produce, the powers that be have been showing increasing determination to reduce the over reliance on the oil sector.
Economy, Planning and Regional Development Minister reiterated the government’s stance during his economic tour to the Moungo Division of the Littoral Region from January 25-26, 2018.
It emerged from the visit that coffee and banana sectors will receive a special boost in the economy diversification plan. With over FCFA 888 million already made available for the dream, hope is that the once vibrant sectors would in no distant future regain their yesteryear’s vitality and conveniently contribute to sustainable job creation and wealth generation.
Fortunately, these two sectors feature among those government has tagged “Priority areas” and tipped for in-depth grooming and well-tailored development.
Developing sectors like these that have the predisposition to speedily and extensively develop the economy, by virtue of the number of people they employ or could recruit, might be a good step in the right direction to realising the economy diversification vision.
Beyond the two sectors that were in the spotlight during Minister Louis Paul Motaze’s Moungo visit, thought should equally be given to other productive sectors of the economy that have the dexterity to bail the economy out of the current or impending global quagmires. Studies, can for instance, be carried out to clearly identify such sectors. In fact, this would be to add or update what government already has as priority sectors in her long-term sustainable development plan contained in the Growth and Employment Strategy Paper.
As a matter of fact, digital economy, agriculture as a whole, mining, transport as well as the service sectors have been signalled out as those capable of lifting the country’s economy to the heavens if well harnessed. What started in Moungo with coffee and banana is thus highly solicited in the rest of the already identified sectors. In fact, government has to stretch full length to spread her economy diversification tentacles to all susceptibly productive sectors.
Hope is that the annual conference of officials of the central and devolved services of the Ministry of the Economy, Planning and Regional Development that goes underway in Yaounde this Monday; coincidently under the banner of diversifying the economy, would whip up sentiments of best practices in the officials who are expected to materialise the government’s dream on the field.
Renewed determination, orientation and means are needed to make Cameroon an economy capable of relying on any sector to stand whatever challenge.