FrancTrade view: This development seizes the initiative from distributors who have been marketing Sika products for more than a decade in the country and gives the company a clearer interface with booming activity onshore. Sika specialises in the development and production of systems and products for bonding, sealing, damping, reinforcing and protection in the building sector and the automotive industry.
Story: Sika, the Swiss specialty chemicals company, today announced it had established a new national subsidiary in the economic capital of Cameroon, Douala. Sika is looking to leverage on, and makes specific mention of, the ongoing work in residential and strategic infrastructure in Cameroon including the deep seaport in Kribi, the extension of the country’s rail network and the construction of stadiums for the 2019 African nations’ cup.
According to the press release from Sika, the new organisation will “assume responsibility for the distribution of concrete admixtures and mortar products throughout the country and continue to expand Sika’s market share in Cameroon’s flourishing construction market.”
This development comes hot on the heels of news that the Cameroonian group, Afriland first bank, is lending XAF 40.5bn to the Equatorial Guinean corporate, Grupo Abayak as part of a syndicated loan deal for the construction of a cement plant with an initial capacity of 500,000tonnes. The cement will be sold within the CEMAC zone to take advantage of momentum building in the region’s construction sector.