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Investment promotion: Mit Chimie signs an agreement with API to raise financing for the expansion of its activities beyond Cameroon

Thanks to the agreement signed with the Investment Promotion Agency (API) last week in Yaoundé, Mit Chimie will be able to improve the quality of its products and conquer new opportunities in Central Africa, particularly in the fast-growing soft drinks sector.

(EcoFinances) – Mit Chimie, a company specialising in engineering solutions for plastics processing, has just signed an agreement with the Investment Promotion Agency (API), according to its Chief Executive Officer (CEO), Emmanuel Wafo, who made the announcement on Tuesday 1 August 2023. The agreement in question was signed last week and should enable Mit Chimie to obtain the financing it needs to improve the quality of its products while extending its activities beyond Cameroon.

« I am delighted to announce a major milestone for Mit Chimie. Last week, we signed an agreement with the Investment Promotion Agency (API), marking a strategic turning point for our company. Through this collaboration, we aim to obtain the necessary financing to improve our products and expand our activities beyond Cameroon », he reveals on his LinkedIn page.

Thanks to the collaboration with API, Mit Chimie will be able to develop further.

Strengthening the leading position in the local PET preforms market

Although the head of Mit Chimie has not revealed how much money the company needs to develop, we do know that this funding will enable it to boost its production capacity, improve its product offering and eventually aim for 9001, 14,000 and 22,000 certifications to guarantee the satisfaction of its customers and partners. As he sees it, the production of closures, scheduled for October (2023, editor’s note), will complete the company’s offering and strengthen its position as leader in the local PET preforms market.

As part of its expansion strategy, Mit Chimie aims to conquer new opportunities in Central Africa, particularly in the fast-growing soft drinks sector. « Our clear objective is to seize new growth opportunities in Central Africa, particularly in the booming soft drinks sector, and contribute to the region’s economic development, while promoting sustainable management of our business », explains Emmanuel Wafo.

For the captain of industry, continuous improvement at Mit Chimie remains at the heart of the company’s approach. « (…) We want to offer industrial excellence while promoting responsible management of our activities », he stresses, thanking API for this fruitful collaboration.

As a reminder, Mit Chimie, which was founded in 2000, has, according to the data available on its web portal, achieved a turnover of 9.7 billion FCFA in 2022. According to its CEO, this performance should improve this year. With 113 employees, the company, which specialises in engineering solutions for plastics processing, boasts a storage capacity of 4,800 tonnes and to date has 163 commercial partners around the world.

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