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ECONOMIC GROWTH : The mining sector boosts the Cemac Zone

[abelainfo] - The Bank of Central African States (Beac) predicts that annual economic growth within the Cemac zone will experience a slight increase, reaching 3.7% between 2025 and 2027, thanks to the mining sector. This perspective aims to diversify the economies of the region and strengthen its resilience to external shocks.

According to the BEAC, the global economy has faced recurring economic shocks since 2020, highlighting the need for CEMAC to diversify its exports and enhance resilience. In this regard, several countries in the sub-region have decided to capitalize on their mining potential to ensure medium and long-term economic growth. In addition to additional tax revenues, this strategy aims to promote the creation of new businesses and the development of secondary economic activities related to the mining sector, such as transportation, catering, security, and mineral product processing. Infrastructure such as roads, railways, and electricity will also be developed to support this sector.

The BEAC emphasizes that five iron ore mining projects are currently at an advanced stage and are expected to commence production by the end of 2024, particularly in Gabon and Cameroon. These projects include Gabon’s Baniaka and Belinga iron ore projects, as well as Cameroon’s Lobé, Mbalam, and Grand Zambi projects.

La Une du journal LA VOIX DES ENTREPRISES, parution du vendredi 26 avril 2024.
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The Bank also foresees the emergence of new regional gas projects. With Europe’s strategy of diversifying gas suppliers, several significant gas projects are expected to enter the production phase in Congo, Cameroon, and Gabon.

This focus on the mining sector and natural resources aims to stimulate economic growth, create jobs, and develop infrastructure in the CEMAC region. However, it is important to implement appropriate policies and mechanisms to ensure sustainable and equitable exploitation of these resources, while preserving the environment and ensuring that economic benefits translate into an improvement in the quality of life for local populations.

Raphaël Mforlem

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