The theme of the 11th Edition Of CEMAC Day is: “Improving physical Infrastructure, To Promote Exchanges Within The Population Of The CEMAC Subregion.
With the economies of the member countries of the Economic and Monetary Community of Central Africa(CEMAC) being resilient and gaining momentum before the advent of the “monster virus, COVID-19, real output growth was estimated to have increased to about 3.1 percent in 2017, and accelerated in 2018 and 2019 to about 4.1 percent.
The challenges abound, especially for the structural transformations, that would be creat more jobs and reduce poverty by deepening investments in agriculture and developing agricultural value chains to spur modern manufacturing and services. Also needed are massive investments in infrastructure.
This is why the Prime Minister, Joseph Dion Ngute at the instructions of the President of the Republic, His Excellency Paul Biya, laid the foundation stone on the bridge that will link Chad with Yagoua in Cameroon, as one of the Regional integration Project, to ease trade in the economic market.
The Yagoua-Bongor bridge construction, that has been given the official go ahead, will aim at paving the way for a new economic corridor within the subregion. Likewise, the inauguration of the 312 Kilometers Square road linking the Congolese Capital Of Brazzaville to Yaounde In Cameroon, by President Denis Sassou N’Guessou.
This will better connect the economic community in the subregion. But, the African countries do not need to solve all their infrastructure problems before they can sustain inclusive growth. Rather, they should focus on how best to use their scarce infrastructure budgets so as to achieve the highest economic and social returns, an aspect which still has setbacks amongst the CEMAC member countries.
The 12 integration Projects identified by all the CEMAC member countries are still in search of financing, in other to kick start some of the projects. Even though some of the member countries are making some progress, others are still left behind.
However, infrastructure projects are among the most profitable investments any society can make.Experience has proven that when productive, they can contribute to and sustain a country’s economic growth.
CEMAC member countries, therefore, have to be more proactive, practical and embark on concrete ambitious reforms as they prepare to commemorate the 11th Edition Of CEMAC Day, come March 16, 2020.