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Actis, a leading growth markets investor, has started the construction of the Douala Grand Mall & Business Park, Cameroon’s first destination retail and leisure mall.

Actis, with its local partner Craft Development, is developing the mall to comprise 18,000 square metres of retail and leisure space, close to Bonapriso in Cameroon’s largest city. The mall will include multiple restaurants, a children’s play zone, a five-screen cinema, a supermarket and retail shops. Phase 1 of the development also includes a business park, hosting a hotel and corporate offices spaces.

CFAO, the international group specialised in distribution in Africa, has signed an agreement to set up and operate a Carrefour Market in the shopping mall and the leading hospitality & entertainment conglomerate Genesis Group is the cinema anchor.

The project is expected to create over 4,500 jobs using local material and labour and has been granted tax incentives following a convention signed with the Government of the Republic of Cameroon.

Amanda Jean-Baptiste, Partner, Head of West Africa, Real Estate at Actis, said: “Actis is thrilled to reach this key milestone in delivering Cameroon’s first destination retail mall; anchored by two flagship brands seeking to benefit from the growing consumer power. The Mall will make a significant contribution to job creation and other economic indicators in the Cameroonian economy.”

Actis is also invested in the electricity sector in Cameroon. In partnership with the government Actis holds a majority interest in the country’s electricity utility, Eneo. Actis is in advanced discussions with the Government to facilitate further significant investment into the energy sector to continue to expand the electricity grid and improve the quality of supply. Actis has also established Honoris United Universities, a pan-African higher education business which brings together the most prestigious universities, Actis also has a strong presence across the wider Francophone Africa region including energy, education and healthcare businesses.