The French “groupe Castel” has seen great prospect in Cameroon and is thereby ready to invest in this land of opportunities. Castel Group (Groupe Castel) is a French beverage company. It was established in 1949 by Pierre Castel, who continues to run the company as a family-owned concern. Castel is the largest wine producer in Europe, number two for beers and soft drinks in Africa.
The “Investir au Cameroun”, which was the international business conference organized by the head of state, brought together businessmen to see firsthand the many investment opportunities the country has. Business gurus from across the globe met in Yaoundé at the behest of President Paul Biya to see where best to invest their money. The Castel group sees a great market in Cameroon and hopes to invest in the agriculture.
Castel Group is a member of the Societe Anonyme des Brasseries du Cameroun – SABC. The group is presently having investments in the brewery sector of the country. According to the vice president of the group, Michael Palu, the group is studying possibilities of investing in agriculture. This revelation was made during his visit to President Paul Biya on investment opportunities in Cameroon.
The group revealed that it is planning to invest in agriculture, especially in the growing of some cereals that will ensure continuous availability of the raw materials to be used for production.
The chairman and CEO of the SABC revealed that future investments of this group in Cameroon will cover areas in relation to the cultivation of Maize, rice, etc. Micheal Palu also talked about amplifying investments in the sugar sector.
The visit of the French investor came two days after the closing of the international economic conference which proves that the conference was a great forum which marketed Cameroon to foreign investors.