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Find all the economic and financial information on our Orishas Direct application to download on Play StoreFormer Nigerian President Olusegun Obasanjo is expected in April 2025 at the autonomous port of Kribi. The latter plans to launch its consortium Obasanjo Agro-Allied Business Ltd (OABL), focused on cross-border trade between Cameroon
and Nigeria.OABL will invest in Cameroon in the sectors of agriculture, maritime transport, maritime transport, hotels, oil, etc., at a total cost of 700 million USD (about 420 billion FCFA). According to a press release from Agha Albert Ngwana, CEO of Aftel Cameroon Limited, a partner company of the Obasanjo group, Obasanjo will expand its farm in Cameroon on 610 hectares of land, growing soybeans and maize to feed its livestock. The group wants to create industries for the manufacture of packaging, the wholesale of fertilizers and the construction of warehouses.
OABL's investments will contribute to strengthening economic ties between Cameroon and Nigeria, two regional economic powers.Also they will make it possible to support and support local producers, create an environment favorable to regional development and establish the deepwater port of Kribi as a stopping point for cross-border trade activities in order to promote the achievement of the objectives of the African Continental Free Trade Area (AfCFTA) by facilitating intra-African trade. For Agha Albert Ngwana, the intention is to decongest the ports of Apapa and Lekki “by carrying out numerous services, including transshipment and numerous other maritime activities at the deepwater port of Kribi
”.
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13/06/2025 - Economie/Forex
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