US and Cameroon unveil $7bn pipeline of investment projects

By XOL Africa

YAOUNDE, Cameroon — The United States and Cameroon have identified about $7bn of potential investment and trade opportunities, ranging from hydropower and critical minerals to artificial intelligence and logistics, as Washington seeks to deepen commercial ties with one of Central Africa’s largest economies.

The figure, announced after the first US-Cameroon Bilateral Economic and Commercial Dialogue on Thursday, includes projects at different stages of development rather than $7bn of committed capital. The announcement nevertheless highlights growing US corporate interest in Cameroon, particularly in sectors linked to infrastructure, energy and mineral resources.

The largest project under discussion is the proposed $3.5bn Grand Eweng hydropower scheme, a 1,040-megawatt development on the Sanaga River. New York-based infrastructure investor Hydromine is working towards the project, which would represent a significant expansion of Cameroon’s power-generation capacity if completed.

Infrastructure plans account for much of the remaining investment pipeline. Illinois-based A. Epstein and Sons International and financial partner ITF are discussing a proposed $2bn airport in the Douala metropolitan area, alongside a $230mn project to develop theatre complexes in Yaoundé, Douala and Bamenda.

The push into critical minerals reflects a broader effort by US and allied companies to secure supplies of minerals needed for industrial and clean-energy technologies.

Connecticut-based Tronox and Australia’s Lion Rock are advancing a $500mn rutile project, while Washington-based critical-minerals developer ARM is discussing an initial investment of about $85mn in a cobalt-nickel-manganese project at Nkamouna.

The projects come as the US and other western economies seek to diversify mineral supply chains away from China, which dominates processing and refining of many critical minerals.

Technology is another emerging area of US-Cameroon investment. Virginia-based Cybastion has said it intends to invest $75mn in an artificial-intelligence data centre and power plant in Douala. New York fintech company Azamra is also developing plans to facilitate investment from the Cameroonian diaspora and expand cross-border digital payments.

The talks in Yaoundé focused not only on individual projects but also on the obstacles that have historically made investment in Cameroon difficult. US and Cameroonian officials discussed taxation, shipping and logistics, and reforms to the mining sector.

The two governments agreed to establish joint working groups to continue negotiations and monitor progress, with Washington scheduled to host the next bilateral economic dialogue in 2027.

Several US companies are also pursuing smaller commercial opportunities. California-based Taylor Guitars and Cameroonian partner Crelicam are working on the sustainable sourcing of ebony, while FedEx and its local service partner Globex Cameroun are developing plans for a warehouse at Douala International Airport.

New Jersey-based Hoffman Equipment is pursuing an $83mn equipment sale, which the companies say would support infrastructure development and technical training.

For Cameroon, the proposed investments could provide badly needed infrastructure and foreign capital. For US companies, the country offers access to a market of more than 25mn people and significant natural resources, although investors continue to face regulatory, infrastructure and logistical constraints.

The $7bn headline figure should therefore be viewed primarily as an investment pipeline rather than a tally of completed deals. Turning the proposals into actual projects will depend on financing, regulatory approvals and improvements to the operating environment.

The US and Cameroon said they would continue working with private-sector companies to create a more favourable business environment and convert the projects discussed during the dialogue into investment and trade.