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NW, SW to benefit FCFA 9 billion as Gov’t battles to raise FCFA 150 billion

Douala (National Times)-Cameroon’s restive English-speaking Regions of the North West and South West will benefit investments worth FCFA 9.1 billion in major development projects from the FCFA 150 billion which the Government is raising through the issuing of treasury bonds. The bond operation ends on November 9.

The earmarked projects were unveiled as Finance Minister Louis Paul Motaze launched the bonds sale operation in the economic capital of Douala on October 26. A document on the projects which Government intends to execute specifies what will be done in the two Regions and other parts of the country.

FCFA 3.5 billion will be invested in the South West Region. The agro industrial giant PAMOL plantations will benefit from a financial aid of FCFA 1 billion.

The same package will be given to the South West Development Authority (SOWEDA) to upgrade its equipment pool and restructure its functioning.

FCFA 1.5 billion will be used to acquire and set up prefabricated bridges in some parts of the South West Region.

The North West on its part will gain in terms of improvement on its road infrastructure. Of the FCFA 5.6 billion allocated for the Region, FCFA 2 billion will be spent on the second access road into Bamenda.

The road will be from the Santa end of the town or the West Region. Its access spans Mile 8 Akum through Baba and then to Bemenda. It is a 19.23KM stretch.

Then, the rehabilitation of the 70KM Kumbo-Ndu-Nkambe Road, the Nkambe-Message-Wum stretch and the stretch leading to the border with Nigeria spanning 122 km, which will cost FCFA 2 billion. The Bamenda-Babadjou Road rehabilitation project will cost FCFA 1 billion.

Besides these two Regions, a chunk of the money will be spent on completing projects for the 2019African Cup of Nations (AFCON) billed for Cameroon. FCFA 30 billion will be pumped into completing the Yaounde -Olembe Sports Complex and access roads. The rehabilitation of the Garoua Roumde –Adja Stadium will swallow FCFA 20 billion. Projects for the same sporting jamboree in the West Region will Region will gulp FCFA 17 billion.

In Douala, the economic hub of the nation expected to host one or two AFCON groups, FCFA 34 billion from the money being raised will be invested to perfect projects.

The Douala Ominisport Stadium alone will take FCFA 8 billion. Construction of the sports complex and access roads at Japoma will benefit FCFA 20 billion.

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