Cameroon’s richest woman Kate Fotso launches new hospitality company

Mfonobong Nsehe -

Cameroon’s richest woman Kate Fotso has established a new company, Bridge Riviera Development and Hospitalities Plc (BRDH).

Specifically, the company, established on Sept. 14, 2023, for a 99-year duration, has set forth objectives including owning and operating a luxury hotel and associated luxury hospitality services in Douala and other parts of Cameroon; Initiating, owning, and developing land properties and Establishing, owning, and developing residences, houses, and other real estate infrastructures, warehouses, stores, shopping centers, and gardens.

Furthermore, the company, with Fotso as its CEO, also aims to own and develop tourist sites and activities; own, manage, and develop hospitality and catering services; own, manage, and develop entertainment businesses; own, promote, and develop concierge and business center activities and engage in artisanal fishing activities.

Now venturing into luxury hospitality, Fotso is diversifying her business portfolio.

Through her company Telcar Cocoa, a local trader for the American firm Cargill, Fotso is responsible for 30 percent of Cameroon’s cocoa exports.

The CEO of Telcar Cocoa also promotes certified cocoa cultivation in the country. Forbes estimates her net worth at $252 million, approximately 150 billion FCFA, making her the wealthiest woman in Francophone Sub-Saharan Africa.

However, her financial standing might have decreased recently due to separatist claims in the South-West region, formerly a hotbed for cocoa production in Cameroon, where Telcar Cocoa and Fotso made up to 80 percent of their purchases.

A Booming Industry

Cameroon’s hotel sector has been flourishing in recent years. Despite service quality that still needs improvement in many establishments, significant investments have been made, especially in the number of hotels. Experts estimate over 10-percent growth in new establishments between 2015 and 2017. Major hotel chains, such as Radisson Blu, have also entered the market.

Aiming for 1.081 Trillion FCFA in Revenue by 2028

In 2017, the travel and tourism industry directly contributed 3.2 percent to the GDP, a slight increase from 3.1 percent the previous year. Foreign visitor spending generated 1.860 trillion FCFA, a figure expected to rise by 3.9 percent by the end of 2018. According to Cameroon’s tourism development strategy, the nation aims to increase this rate to 5.3 percent by 2028.