The foremost Cameroonian Investor to engage in cement production was revealed to be Emmanuel Peughouia. He owns shares in the 4th unit of cement production in Cameroon.
Medcem Cameroun, a cement manufacturing company is owned by Eren Holding, a Turkish group. The company was bespoken on the riverside of the Wouri in Doula by Prime Minister Philemon Yang on 16 December 2016.
Peughouia is the owner of Quifeurou, a hardware store chain which started business in 1983 at Bafoussam. Bafoussam is Western region’s regional capital. The shift of Peughouia in investing in cement production is brought about by his store chain’s desire to supply quality and inexpensive cement to its customers. The hardware was also encouraged by the 2013 Act on the promotion of private investments in Cameroon.
As a result, the two companies invested FCfa 20.3 billion in order to produce 600,000 tons of cement with an expansion to one million tons.
The targeted production will be marketed by the hardware chain which currently has 56 stores all-over Cameroon, Chad, and Central African Republic.
The cement production in Cameroon has been monopolized for 48 years by Cimencam. This company is a subsidiary of Lafarge-Holcim group of companies.
The monopoly was broken only in 2014 with the establishment of the second cement factory by Cimaf. Cimaf is a subsidiary of Addoha, a Moroccan group of companies.
Peughouia, on behalf of his company, is very pleased to be the primary Cameroonian business individual to invest in cement production.