Urban Development: A Flourishing Sector For Investors
Richard KWANG KOMETA
Following President Paul Biya’s decision to convene investors in Cameroon from 17-18 May 2016 to discuss business opportunities in the country, there have been speculations about available offers. One such sector that remains fertile for business ventures is urban planning.
Data from the last population and housing census in the country present such challenging results that any investors who eye the urban development milieu could be in for brisk business, given that the demand is real and palpable.
For instance, the 2005 General Census of the urban population of Cameroon was 8,514,938 inhabitants, against 2,184,242 in 1976 and 3,968,919 in 1987. “The urban population has increased almost by four-fold between 1976 and 2005, while the national population multiplied only by 2 in the same period, and then to 4.6 between 1976 and 2010.”
This means that the urbanization rate in the country witnessed a strong and steady increase between 2005 and 2010. Thus, in January 2010, towns were home to 10,091,172 out of the 19,406,100 inhabitants in the country, the census results indicated, while noting that the urbanization rate increased from 28.5% in 1976 to 37.8% in 1987, 48.8% in 2005 and 52% in 2010.