British PE firm Actis will fund the building of the Douala Grand mall in Cameroon in an investment worth US$200mn according to a statement from the British High Commission in Yaounde
Emerging markets focussed Actis will partner with local real estate developer Craft Development in a project which is expected to create about 4,500 jobs.
The construction will be complete by the end of 2019, according to the statement.
"This diversification of portfolio in Cameroon (investing beyond power sector) is a remarkable signal that Cameroon is a good business destination for multinationals like Actis," British high commissioner to Cameroon, Rowan Laxton said.
The mall will consist of 18,000 square meters of commercial center, with a Carrefour super market, a five hall cinema multiplex operated by Genesis Group, restaurants and leisure boutiques.
The second phase of the project will include a five star hotel and office spaces.
