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IFC Executive vice president announced the news on Monday during an audience with P.M, Peter Mafany Musonge.
The story may soon be told differently on Cameroon’s electricity sector following the good news announced on Monday at the Star Building by the Executive vice president of the International Finance Corporation, Peter Woicke. The World Bank authority was yesterday afternoon received in audience by Prime Minister, Peter Mafany Musonge during which they discussed ways and means of promoting private sector activities in Cameroon. Mr Woicke was particularly impressed with the microeconomic situation in Cameroon which he described as stabilised and as proof of government’s good performance. That notwithstanding, he questioned why Cameroon’s private sector remains restless. This in effect, was particularly central in the discussion he had with the PM. It was all along the main issue under discussion with private businesses in Douala and the administration in Yaounde. Prior to his arrival at the PM’s Office, Mr Woicke had a working session with the Minister of Economic Affairs, Programming and Regional Development, Martin Okouda.
Talking to the press after the audience with the Prime Minister, Mr Woicke said his department was looking forward to financing the electricity sector in Cameroon. "We are looking at financing the electricity sector that is clearly the number one issue for Cameroon", he said. This will concern particularly medium and long term financing He said they will also like to see more investment in the oil, agriculture and processing sectors. Cameroon, he said, is a very rich country and can produce more for the national as well as international market. The other issue that was discussed at the Star Building is how to bring more infrastructure to Cameroon. According to Mr Woicke, "this has to improve dramatically in order to attract more private sector investment", he said.
Peter Woicke, executive vice president of the International Finance Corporation, doubles as managing director of the World Bank Group for Private Sector Development. He arrived in Cameroon last November 22 and had working sessions with the private sector in Douala. The IFC is the private sector arm of the World Bank Group. He leaves Cameroon for Johannesburg , Botswana and Kenya.
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