Spanish company Eurofinsa wants to invest over 300 billion FCFA in Cameroon

Mar 27, 2015
Cameroon Journal
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March 27th 2015, Cameroon – The Spanish group, Eurofinsa, and international group, that counts IBT Group as a subsidiary for USA and Latin America, has proposed that the Cameroonian government accept a 500 million dollar line of credit (over 300 billion FCFA) through Deutsche Bank for road construction, affordable housing, health, energy and drinking water.
However, although the financing proposed by Eurofinsa seems to appeal to Cameroonian authorities, Eurofinsa wants to provide the funds in Cfa francs. Apart from roadwork, the sectors in which Eurofinsa would like to invest really do not inspire the Cameroonian government. Indeed, the government would like to re-direct the financing proposed for the building of an Olympic complex as well as hotels for the Africa Nations’ Cup that the country will hold in 2019.
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