During the third edition of the Finance Week organized in Douala by EcoMatin, the Cameroonian group Prometal was praised for its exceptional trajectory in the industrial landscape of Central Africa. Two awards were presented to them: the Industrial Investment Leadership Award in the CEMAC zone for the year 2024, and the Industrial Leadership Award in Cameroon, given to its CEO, Hayssam El Jammal. A double recognition for a group that has made Cameroon a regional pillar in the steel transformation.
An industrial strategy on a regional scale
The first award crowns an ambitious industrial expansion strategy. In 2024, Prometal strengthened its sub-regional network with several structuring projects. The most emblematic: a 30 billion CFA franc investment in a steel plant in the Nkok free zone in Gabon, in partnership with Ariise, to address the CEMAC market.
In parallel, the group launched an integrated bauxite-alumina-aluminum transformation project in Douala, worth 88 billion CFA francs, with a capacity of 60,000 tons per year.
These investments add to an already impressive portfolio. In January 2024, Prometal inaugurated two new units in Douala: Prometal 4 (PM4) and Prometal 5 (PM5), with a combined cost of 57 billion CFA francs. PM4, dedicated to wire rod and rebar, makes Cameroon the first producer of wire rod in sub-Saharan Africa, with a capacity of 360,000 tons per year. PM5, on the other hand, produces 600,000 domestic gas bottles per year, 50% more than national demand, positioning the country as a net exporter in this strategic segment.
Hayssam El Jammal, a distinguished industry captain
The second award, presented to Hayssam El Jammal by the governor of the BEAC, distinguishes impactful management, in the words of the jury. At the helm of the group since its creation, this discreet entrepreneur has elevated Prometal from a local company to a structuring regional leader, with over 200 billion CFA francs in cumulative investments.
In 2024, he oversaw the increase of the group’s share capital from 20 to 25 billion CFA francs, strengthening its financial solidity. Under his leadership, Prometal was also classified as a “Company of high standing and national importance” by the Central African Banking Commission (Cobac), a rare recognition for an industrial company.
Beyond financial performance, Prometal embodies a vision of sustainable industrialization, in line with the objectives of the African Continental Free Trade Area (AfCFTA). The company manufactures steel products to international standards, which fuel the structuring projects of Cameroon: the second bridge over the Wouri, Memve’ele, Lom Pangar, Natchigal dams, Japoma, Olembé and Garoua stadiums.
Asked after receiving his awards, Hayssam El Jammal stated:
“I am very flattered and feel even more encouraged to do more for the industrial sector. The CEMAC zone, especially Cameroon, will be highly industrialized in the years to come. We are convinced of this.”
The ambition does not stop there. Prometal plans two new entities: PROALU, for aluminum transformation in Douala, and a steel cluster dedicated to iron ore at the port of Kribi. These projects, under study, follow a logic of import substitution and upgrading of the Cameroonian offer.
