Cameroonian tycoon Oumarou Fadil invests $1.79 million in Garoua grain complex

Cameroonian businessman Oumarou Fadil is investing more than 1 billion CFA francs ($1.79 million) to build a cereal-processing plant in Garoua, aiming to boost local food production and create jobs in the country’s north.

The project is led by Fadil’s company, DYA Corporation, which recently won government approval for special tax breaks under Cameroon’s private-investment incentive law. The Finance Ministry signed off on the package Sept. 15, clearing the way for construction of the plant.

Officials say the facility will process sorghum, soybeans, maize, rice, peanuts and beans. The project is part of Cameroon’s 2030 National Development Strategy, which seeks to reduce reliance on imported staples and improve food security. Authorities project the plant will generate at least 30 percent added value in industrial activities, contributing roughly 45 percent of its projected revenue.

Fadil said the investment reflects his ambition to strengthen the domestic agribusiness sector. “We want to create jobs and build value for local farmers, consumers and our partners,” he said in a statement.
The project received a boost when Afriland First Bank issued a financing certificate worth 750 million CFA francs ($1.34 million) on Aug. 6, confirming the funding’s solidity and reassuring suppliers that payments would be met on time.

Officials believe the tax incentives and bank support will help overcome some of the challenges businesses face in the country’s northern regions, including weaker infrastructure and higher logistics costs.

Fadil, 59, is vice president of Group Fadil, a family-owned conglomerate that operates in soap and chemical production, agriculture, hospitality and real estate. Born in Garoua, he earned a graduate degree in international business in the United States before returning home to help expand the group. He previously served as mayor of Douala III in 2002, experience that allies say deepened his understanding of local development needs.

Authorities and business leaders in Garoua expect the plant to support hundreds of jobs directly and indirectly, from grain sourcing and transport to processing and distribution. Analysts say if the project succeeds, it could help reduce Cameroon’s costly food imports and strengthen the economy of the country’s north, which has often lagged behind coastal regions in industrial development.