(Investing in Cameroon) – The Urban Community of Douala (CUD) is in the process of setting up the “Metropolitan Investment Corporation of Douala” (Smid), the aim of which will be to raise funds to develop the economic capital.
Fritz Ntonè Ntonè, the government delegate, talks about a need of 1400 billion CFA francs over a decade for the economic capital of the country that will host a million inhabitants by here in 2025.
According to Mr. Ntonè Ntonè, this investment company must allow the renovation of the New Deido market which will house 1800 shops, 15 stores, cold rooms, 360 stalls, etc. The Bonamoussadi market is also covered by the investment plan. The CUD is also planning to build an international conference center on the Joss Plateau, including several auditoriums, including 1,500 seats.
The Smid should help the urban community to rehabilitate the town hall and to renovate the communal city of Grand-Moulin de Deido (dwellings, halls, shops, etc.).
The last two phases concern the real estate development and construction of the City of the Fiftieth Anniversary, consisting of residences, offices and luxury shops in the Koumassi district.