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Macron to push investments in Cameroon to boost Africa food security

By Amindeh Blaise Atabong YAOUNDE (Reuters) - French President Emmanuel Macron started a three-leg Africa tour in Cameroon in Tuesday, a trip meant to strengthen political ties...

By Amindeh Blaise Atabong

YAOUNDE (Reuters) - French President Emmanuel Macron started a three-leg Africa tour in Cameroon in Tuesday, a trip meant to strengthen political ties with the continent and help boost agricultural production amid growing food insecurity linked to the war in Ukraine.

The mineral-rich central African nation is a major food producer for the region and Macron's delegation will seek investment opportunities in the agricultural sector.

He will meet Cameroon's President Paul Biya in the capital Yaounde, as well as the French community and civil society representatives.

Many African nations are facing food and energy security issues due to their dependence on Russian grain and energy, but they also buy Ukrainian grain that has been disrupted by the conflict.

African governments have largely avoided taking sides and refused to join Western condemnation and sanctions over Russia's behaviour.

But anti-French sentiment is rising in France's former West African colonies, where security concerns and political instability following a string of coups are stoking frustration and swinging public opinion in favour of Russia.

The trip - Macron's first in Africa since his re-election in April - coincides with visits by Russian Foreign Minister Sergei Lavrov and U.S. Special Envoy for the Horn of Africa Mike Hammer to different countries across the continent.

Cameroon is grappling with sharp increases in prices for oil, fertiliser and foodstuffs. Severe fuel shortages hit the capital Yaounde last week leading to long queues at petrol stations.

The country is also battling Boko Haram insurgents in the north near the Nigerian border, while English-speaking separatists in two Anglophone regions in the west have taken up arms against the government since 2017.

Macron will head to Benin on Wednesday and Guinea-Bissau on Thursday.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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SJC Eximbank8,300/ 8,500
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Cập nhật lúc 10:45:15 01/05/2024
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