Cameroon's Prime Minister, Chief Dr. Joseph Dion Ngute, praised Tony Elumelu's economic ingenuity and expansion across Africa at the Cameroon Business Meeting in Yaounde, Wednesday 26th February 2025. The event, which aimed to improve collaboration between the private and public sectors for economic growth, brought together key stakeholders from both sectors.
Dion Ngute acknowledged the efforts of prominent figures, including Celestine Tawamba, President of the Cameroon Employers Association, and Tony Elumelu, Chairman of the United Bank of Africa (UBA) Group. He emphasized the importance of the private sector in shaping policies and driving economic growth, highlighting its role as a major driver in the National Development Strategy (SND 2020-2030).
The Prime Minister also commended the excellent relationship between the government and the private sector, stressing the need for continued collaboration to achieve economic growth. He noted that the private sector provides significant support to the government and has been instrumental in improving the business climate in the country.
Dion Ngute outlined measures taken by the government to improve the business climate, including stringent measures to protect local industries, structural reforms to enhance nutritional sufficiency, and the implementation of import substitution policies. He also highlighted efforts to improve agricultural infrastructure, boost the energy sector, and enhance the overall business environment.
Tony Elumelu, in his address, stressed the need to address pressing issues such as security, infrastructure, youth empowerment, and energy to unlock the private sector's full potential. He emphasized the importance of investing in Cameroon's youthful population, enabling them to contribute to the country's economic growth.
This, he said, is needed to unlock its full potential and allow the private sector to participate effectively and efficiently in the development of the country's economy.
"Cameroon has a very youthful population so there is a need for the government to invest in the youths to enable contribute in the economic growth of the country," Elumelu highlighted.
Tony Elumelu, Chairman of the United Bank for Africa
Prior to the forum, Tony Elumelu met with Dion Ngute to explore opportunities for a more fruitful collaboration between UBA and Cameroon. Their discussions centered around investment opportunities in the banking sector, expanding UBA's presence in Cameroon and the Central African Sub-Region, and constructing a regional branch of UBA in Cameroon.
The event concluded with the presentation of awards, including The African Business and Leadership award to Tony Elumelu and The African Leadership in Mediation and Governance Award to Dion Ngute. The Cameroon Business Meeting is expected to provide a platform for the government and private sector to discuss ways to improve collaboration and drive economic growth in Cameroon.
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