Samuel Foyou
African CEOs - 2 weeks ago

How Cameroon’s Richest Man, Samuel Foyou Made His Fort

Cameroonian billionaire, Samuel Foyou, is the driving force behind the multi-million refurbishment of the Villa Via Hotel at Harbour Island, Cape Town. 

Born in 1958 in the western provincial town of Batié, Foyou is unafraid to assert himself in the business world despite the fact that nothing is known about his private life. A Jeune Afrique article describes him as notoriously “discreet”.

Trading in Angola and the Democratic Republic of the Congo is how Samuel Foyou amassed his wealth. He started purchasing enterprises in 2000 as a method to fully immerse himself in the industrial sector. 

One of his initial purchases was Sotrasel, a company that makes kitchen salt, and in 2001, Plasticam, a production of plastic packaging.

After conducting business in the Western Cape, the industrialist mogul made the decision to bring his Krystal Hotels franchise to South Africa. He reportedly fell in love with the picturesque Gordon’s Bay and intended to build a genuinely opulent and spectacular hotel for visitors to the seaside town.

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Samuel Foyou’s recent brand launch 

Business tycoon Samuel Foyou founded Brasseries Samuel Foyou (BRASAF), a brewery. The company announced the arrival of its first beer in Cameroon in June. 25 percent corn and 75 percent malt will be included in the beverage.

“In a competitive brewing sector, this alcoholic beverage, which stands out from the others with its quality and packaging, will be officially presented to the public on June 30 in Douala,” the company said in a statement. 

According to Brasaf, it intends to alter the game. The new beer will be sold in PET bottles (plastic) that are 0.65 and 0.33 cl in size and have a 5.1 percent alcohol content. The brewing company assures the populace of affordable costs. In addition to beer, Brasaf intends to introduce a line of soft beverages called “Krystal Drink,” which is advertised as being low in sugar and gas.

It was announced eight years ago that Brasaf will be established and run. On July 10, 2014, Samuel Foyou, who already owns a distillery (Fermencam), submitted deeds of creation to a notary in Douala.

The company was founded at the time with a share capital of CFA 100 million. Eight years later, the brewing business joined the SABC Group (Castel), Guinness Cameroon (Diageo), and the Cameroonian Union of Breweries as the fourth of its kind (UCB).

Krystal Palace

Millionaire businessman Samuel Foyou of Cameroon opened the Krystal Palace in 2021 in the nation’s commercial hub of Douala for 16 billion FCFA ($27.5 million).

The billionaire’s Krystal Palace & Resorts Group includes the hotel. It is the second five-star hotel in Cameroon overall, behind the Hilton Hotel in Yaounde, and the first in Douala. 

There are 237 guest rooms and 10 suites. Foyou is the owner of the opulent hospitality organisation Krystal Palace & Resorts Group. Additionally, it is the owner of South Africa’s four-star Krystal Palace Beach hotel.

In a statement, the hospitality company offered its thoughts on the situation, 

“The Krystal Palace Douala brand is the result of the will of a family passionate about the luxury hotel industry, which, having noted a notorious absence of hotel establishments meeting international luxury hotel standards in Douala, made his dream of living his passion a reality by offering this quality product.”

On December 17, the hotel was officially opened, with Joseph Dion Ngute, the prime minister of Cameroonin attendance.

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