Cameroon

Cameroon is a lower-middle-income country with a population of 28 million. It has a land mass of 475,442km² and a coastline of 360km located along the Atlantic Ocean. It shares borders with the Central African Republic, Chad, Equatorial Guinea, Gabon and Nigeria. Two of its border regions with Nigeria (northwest and southwest) are Anglophone, while the rest of the country is Francophone. Cameroon is endowed with rich natural resources, including oil and gas, mineral ores and timber, and agricultural products such as coffee, cotton, cocoa, maize, and cassava. Cameroon\'s GDP is US$53bn and the medium-term outlook is moderately positive, with an anticipated average real GDP growth of 3.9% from 2025 to 2028, supported by improved power generation and increased public investment – particularly in the construction sector. Average inflation is expected to decline further, reaching the 3% by 2027. However, the current account deficit is expected to increase at around 4.0% of GDP over the medium term, due to declining oil production and prices, mixed results from government industrial policies, and increased inputs as a result of higher public and private investment. While Cameroon’s external and overall public debt is expected to remain sustainable, the country faces a high risk of debt distress due to liquidity issues.

Its currency is the Central African franc.

Executive powers are conferred upon the president, who serves as chief of state and head of the armed forces; the president also appoints a prime minister and a cabinet. Legislative power is vested in the bicameral parliament, consisting of the National Assembly and the Senate. The 180 members of the National Assembly are directly elected for five-year terms. The Senate is composed of 100 members. Each of the country’s 10 regions is represented by 10 senators, 7 of whom are indirectly elected while the remaining 3 are appointed by the president. A controversial constitutional amendment promulgated in 2008 eliminated presidential term limits and granted immunity to the country’s president for any acts committed in an official capacity during the president’s time in office.

Cameroon’s National Development Strategy for 2030 aims to create an enabling environment for investments to spur job growth, including investment incentives. The strategy focuses on boosting local production, developing infrastructure, and leveraging technology for growth and employment. In 2023 and 2024 it implemented expanded investment incentives for agricultural, drinking water, and renewable energy projects. Medical equipment, equipment for livestock and fisheries, and vehicle parts also received breaks from customs import duties and it has introduced policies aimed at encouraging firms to hire Cameroonians, including a surtax on the salaries of non-Cameroonian employees.

In 2023 LSE listed Oriole Resources announced the discovery of lithium Adamaoua and Littoral regions which presents a significant economic opportunity for the country.

Economic growth in recent years has predominately been driven by expansion in the secondary sector, with the oil-producing and construction sectors having exceptional growth, and industrial development will predominantly be driven by the implementation of large-scale infrastructure investments such as the Lom Pangar power station and the port of Kribi the latter which is being built by the China Harbour Engineering Corporation. The multi-modal LAPSSET Corridor Programme is designed to form a land bridge through the African Great lakes’ region, linking with other proposed continental corridors and connecting the Indian Ocean Port of Lamu in Kenya to the Atlantic Port of Douala in Cameroon.


Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF. ?>